Corrections will come and go. Focus on owning correct business & 9 basic principles of investing in small- and mid-cap stocks

A correction is underway on the street, with all segments of the market witnessing a decline. On Tuesday, there was a sharp correction at the level of the Nifty and Sensex – coupled with extremely negative market breadth. It is not the first time – nor will it be the last – that such corrections have taken place. As an investor, your focus has to be on owning the correct business – and not corrections. And the correct business is one with a track record of growth and sharing profits with minority investors. The other important thing: Stick to the nine basic principles of investing.