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The Four Reserve Rules
In preparing to speak to two different audiences in two days, both made up of new boardmembers and new managers, I wanted to make sure I was communicating the simple truths about Reserve planning. It forced me to get down to the real basics, and in almost 30 years I found I had never crystallized my thoughts on the matter. What indeed are the underlying rules, on which all the details are based? So after some pondering, reflecting on questions I’ve recently fielded, and problems I’ve recently helped solve, I came up with this short list. I believe it defines the underlying reasons why Reserve planning, Reserve Studies, and National Reserve Study Standards are important: