A classical guide to patient capital
Invest with method, not momentum.
Harrington Review is an educational publication about long-term investing, portfolio discipline, capital preservation and the practical habits that support sound decisions.
Editorial Note
“A durable investment plan is designed for uncertainty, not for perfect forecasts.”This site teaches general investing concepts. It does not recommend securities or promise returns.
The discipline of long-term ownership
Good investing begins with a clear objective, a suitable level of risk and a portfolio structure that can survive difficult markets.
I / Objective
Give capital a defined purpose
Retirement, education, estate planning and future purchases each require different time horizons and liquidity.
II / Balance
Combine growth and resilience
A portfolio should pursue returns while preserving enough stability for the investor to remain committed.
III / Conduct
Write rules before markets move
Predefined review and rebalancing rules reduce the influence of excitement, fear and short-term headlines.
The Harrington memorandum
Four duties of a thoughtful investor.
Know when the money will be needed.
Accept only risks that can be endured.
Diversify across genuine economic exposures.
Review the plan without reacting to every market movement.
From the current issue
New essays on valuation, patience, income and portfolio governance.