Charlie Munger explains Private Equity and Investment Bankers with an example of a dumb Horse 😂
“Man goes to a Vet complaining about his horse who gets vicious sometimes. The Vet replies: The next time horse behaves well…sell it.”
“That’s how private equity works.”
@CDInewsletter Problem is that the OAS clawback effectively raises the marginal tax rate in the clawback zone to exceed the top tax bracket. Why is the government punishing people who did the right thing and saved for their retirement?
📈Entrepreneurs take risks to build wealth. But protecting that wealth requires a different mindset.
Bruce talks with wealth manager/author Geoff Saab @LowRiskRules about low-risk investing, the hidden cost of fees & why “prestige” investments and illiquid assets can quietly erode returns.
Watch 👇
https://t.co/YDVtKVrdkF
📈Entrepreneurs take risks to build wealth. But protecting that wealth requires a different mindset.
Bruce talks with wealth manager/author Geoff Saab @LowRiskRules about low-risk investing, the hidden cost of fees & why “prestige” investments and illiquid assets can quietly erode returns.
Watch 👇
https://t.co/YDVtKVrdkF
Today on Moolala, @SXMCanadaTalks 167
√ Janel Abrahami: Career Minimalism
√ David Mak @Wealthsimple: Stock Lending
√ Jon Shell: Employee Ownership Research Initiative
√ Geoff Saab: @LowRiskRules book
Dostoevsky wrote this after nearly being executed:
“When I look back at my life, I feel pain not because of suffering, but because of wasted time. I see how carelessly I lived, how often I ignored the quiet voice of my soul, how rarely I understood the value of a single moment. Only when death stood before me did I realize that life is not merely existence—it is a miracle. Every minute is a treasure, and in every breath, there is the possibility of happiness.”
@dailydirtnap I'm often surprised at the number of very successful people in our business who do this, or take sponsorships for the podcast, or whatever. The marginal dollar can't be worth it, in the big picture.
@PythiaR Too much headache to trade today, for example if you're selling US securities and buying Canadian you will go negative on cash. Nothing to lose by waiting 'till tomorrow.