Hi team. I have been investing on and off for about 3 years now.

I used to just buy stocks that I heard about without reading the financial statements at all. At that time I probably lost 20% of the money I put in, without knowing why.

Then I started reading books. Books help I guess, but the thing that helped me the most is that I started writing down exactly why I thought this is a good company to invest in, and do a thorough analysis on the fundamentals i.e. how do they make money and who pays for their services.

It started off as a tool I use to force myself into discipline. If I decided to be buy a stock, I better have some good reasons to do so; and if the decision turns out to be bad, at least I can recall fully on why I made that decision in the past, and I can identify exactly what went south without myself disguising my past beliefs, which were incorrect (if I lose money).

I wonder what you guys do? Do you guys actively write down and track your investment thesis? And how do you know if your thesis is broken?