If you reduce investing to the financial atom level, it really has to do with money flow. Money always flows from weak hands into strong hands. That's something you should have learned in kindergarten. The smart money buys at bottoms and sells at tops. The dumb money sells at bottoms and buys at tops. I've heard that 70–90% of investors lose money and if the number is accurate, that's why.

So anytime you make an investment, forget location, management and balance sheet. Look to see what the smart money is doing and what the weak hands are up to. Do the opposite of what the dumb money is doing. That makes you the smart money automatically.