Joe Kuefler

Trying to live at the intersection of preparedness, opportunity and luck.

[Joe Kuefler @ArbitragingTime]

Great format. Was a lot of fun. Keep it up @twebs

[twebs @twebs]

Thanks so much to @ArbitragingTime for the deep dive on $LEGH, @BrianGlennNJ for chiming in and @garyHeff and @DollarDiligent for the questions https://t.co/eUkgHnyvL3

[Joe Kuefler @ArbitragingTime]

“It’s easy to achieve massive improvements in perception at a fraction of the cost of equivalent improvements in reality.”

- Alchemy by Rory Sutherland

[Joe Kuefler @ArbitragingTime]

@ValueStockGeek Health insurance and home insurance have become pretty material costs since the 50s. Although at $35K income government basically pays your health insurance for you.

[Joe Kuefler @ArbitragingTime]

@davidhpolansky Isn’t EVEN more like $450M?

[Joe Kuefler @ArbitragingTime]

Also, lean into your strengths and stop wasting so much energy fixing your weaknesses. Being self-aware of the weaknesses is usually good enough.

[Shane Parrish @shaneparrish]

Stop fighting your nature. Start winning with it.

[Joe Kuefler @ArbitragingTime]

Satisfaction = What you have ➗What you want

[Nassim Nicholas Taleb @nntaleb]

If someone criticizes you on a single point, it may be valid and they own you. If they criticize you on more than one point, you own them.

[Morgan Housel @morganhousel]

Spend less than you make.

Quietly compound.

Love your family.

Be nice to people.

Happy Friday.

[Sidecar Investor @sidecarcap]

Passing up good opportunities to wait for extraordinary ones is an investing superpower.

[Joe Kuefler @ArbitragingTime]

Having one of those weeks where I have ample capacity to do a lot of thinking. An open calendar and limited urgent work can make some people feel unproductive, but it is on the backside of these periods I’ve created the most value in my career.

[Joe Kuefler @ArbitragingTime]

“You waste years by not being able to waste hours.” – Amos Tversky

[Joe Kuefler @ArbitragingTime]

Take your curiosity seriously. It gets harder as I get older, but I've yet to ever regret it.

[Tom Morgan @tomowenmorgan]

It took me 3 months to put 10 years of research on curiosity into a 20min presentation...

...So when @GrahamDuncanNYC challenged me to compress it down to 5min for the @SohnConf yesterday, I obviously went insane.

Here it is.

[Nassim Nicholas Taleb @nntaleb]

How do you become a scholar? Not by actively studying boring or nonboring material. Just reduce the number of things you read that you wouldn't reread a decade (or more) from now.

[Joe Kuefler @ArbitragingTime]

@rev_cap I’m not sure where these ideas get started. Purchase applications are LOW. More supply and current rates solves the price appreciation problem.

https://t.co/Aiav0zEfuR

[Joe Kuefler @ArbitragingTime]

@PythiaR @marcelolima Helpful in finding something you are already looking for (I.e did topic X come up in this meeting transcript). Not as helpful in finding or learning new insights that aren’t already well understood.

[Joe Kuefler @ArbitragingTime]

@TheLoneWolf58 @IgnoreNarrative Why are we comparing a cumulative number (population) to an annual number? The relatively straight-line of long-term population growth means we should need a relatively constant amount of new homes.

[Joe Kuefler @ArbitragingTime]

Amazes me how many people don’t appreciate the optionality value of cash. Ask people why they hold cash and you will get a lot of answers; optionality is rarely on their list.

[William Green @WilliamGreen72]

"We used to think having cash was a byproduct of not having enough to do. But the older I get, the more I see it as a strategic asset. It allows us to take advantage of those great opportunities that come up from time to time." —Bruce Berkowitz

[Joe Kuefler @ArbitragingTime]

@ValueStockGeek I think $MKC on your watch list is my fav that your don’t already own. Probably reasonably priced at todays earnings, but if Op Margins get back to 16%-17% range in a couple years (would love to hear why someone thinks that won’t happen) then it is pretty attractive right now.

[Joe Kuefler @ArbitragingTime]

@rsosa8 That’s how it’s done!!

[Ian Cassel @iancassel]

The best way to sell what you do is to be the best at what you do. Don’t waste time creating an image that your reality can’t back up. Be willing to keep your head down while you work hard to build a reputation with a few people that matter. Then everyone else will come for you.

[Joe Kuefler @ArbitragingTime]

@ValueStockGeek Want to add efficiency to price, shop at Aldi’s. Slightly less selection, but a four-aisle store = Uber-fast shopping experience.