1987 lou simpson interview & checklist

http://www.berichcorp.com/wp-content/uploads/2014/01/lou-simpson-1987-profile.pdf

According to Simpson, his investment principles are as follows:
(a) Think Independently. "We try to be skeptical of conventional wisdom and try to avoid the waves of irrational behaviour and emotion that periodically engulf Wall Street. We don't ignore unpopular companies. On the contrary, such situations often present the greatest opportunities."
(b) Invest in High-Return Businesses Run for the Shareholders. "Over the long run appreciation in share prices is most directly related to the return the company earns on its shareholders' investment. Cash flow, which is more difficult to manipulate than reported earnings, is a useful additional yardstick.