We try not to break these..............

Joe Stampone's A Student of the Real Estate Game blog brings
us Sam Zell's Fundamentals.  Zell has the reputation of being
one to the all time great, and hard-nosed, real estate and business
investors.  Here he offers his rules for investing:

Rule #1 - Operate on the condition of no surprises

Rule #2 -Everyday that you’re not selling an asset in your
portfolio, you’re choosing to buy it

Rule #3 - Ensure management’s interests are aligned with
shareholders

Rule #4 - Look for good companies with bad balance sheets

Rule #5 - Nothing should stand between a company and its
fiduciary responsibility to shareholders

Rule #6 - Look for opportunities in markets with pent-up
demand

Rule #7 - The definition of a partner is someone who shares
your level of risks

Rule #8 - Liquidity = value

Rule #9 - Sentimentality about an investments leads to lack
of discipline

Rule #10 - Take meaningful positions so you can influence
your own destiny

Rule #11 - When everyone is going right, look left

Rule #12 - Understand the downside

Rule #13 - It all comes down to Econ 101 – supply and
demand.