Luis Ernesto Celis

[Sahil Bloom @SahilBloom]

A mentor once told me this: You don't plan your future. You plan your actions today, and those actions create your future. I’ll never forget that.

[Investment Wisdom @InvestingCanons]

“The iron rule of life is everybody struggles. If you soldier through, you can get through almost anything. And it’s your only option. You can cry all right but you can’t quit.”

— Charlie Munger

[James Clear @JamesClear]

One of the most valuable skills in life is being able to see another person's perspective.

If you're going to someone's house, think about how it might feel to be the host. If you're creating a product, spend as much time as possible thinking like the customer. If you're calling customer service, think about how it might feel to be on the other end of the conversation.

The more clearly you understand the viewpoint of your spouse or customer or coworker, the better positioned you are to find a solution.

[Shane Parrish @shaneparrish]

The day you decide you're in charge of what happens to you, there is suddenly opportunity all around you.

[Reads with Ravi @readswithravi]

Jeff Bezos said it right:

“The world wants you to be typical in a thousand ways, it pulls at you. Don't let it happen. You have to pay a price for your distinctiveness, and it's worth it.”

[Sahil Bloom @SahilBloom]

I'm convinced that adaptability is the highest form of intelligence. Knowledge matters, but the ability to learn and unlearn matters more. To change your mind in response to new information. The rigid cling to what was. The adaptable adjust to what is. The future belongs to them.

[Bill Ackman @BillAckman]

A must watch from Jamie Dimon.

[deep value insights @NoelWieder]

I've always liked the story of Charlie Munger.

At 31, he was basically at rock bottom.

He was freshly divorced, had lost the house, and his son died of leukemia. Munger paid for every treatment out of pocket and was left with almost nothing.

Yet he kept going.

Instead of drowning in bitterness, he worked, he read, and he kept his head down.

With a new marriage and some stability, he began investing his lawyer's salary into stocks and real estate.

Then in 1959 he met Buffett.

Inspired by someone who was already running his own partnership, Munger founded Wheeler, Munger & Company in 1962.

The wealth started to accumulate. Through real estate projects and his growing investment partnership, Munger became a millionaire around age 43.

Many successful investments followed, many alongside Buffett, and the relationship grew close enough that working together was the only thing that made sense.

Munger wound down his partnership in 1975. Over 13 years, he had compounded at 19.8% annually, against 5% for the Dow.

In 1978, he became Vice Chairman of Berkshire Hathaway and helped build the empire it was set to become.

Somewhere along the way he lost an eye to a failed surgery, but that didn't bother him much. He still had one left. Plenty enough to read annual reports.

When most people think of Munger, they just see a rich old wise man who almost stood in Buffett's shadow. But the truth is that Munger's wisdom didn't come from nowhere.

He worked himself up from rock bottom, a place where many others would have stayed down, to become one of the most respected investors in history. And a billionaire on top of that.

He never let it go to his head. He lived in the same house in Pasadena for decades. The place didn't even have AC. He cooled it with ice and fans.

Hard to find a better role model than that.

[Boring_Business @BoringBiz_]

Howard Marks on holding onto winners in your stock portfolio

From his recent interview at Wharton

"Buffett says he made all of his money on 12 ideas. Guy invested for 70 years and said he made all his money on 12 ideas. Charlie Munger used to say he made all his money on 4 ideas. He didn't have as many good ideas as Warren"

[Sahil Bloom @SahilBloom]

The worst mistakes in life are made when you try to do fast what’s meant to be done slow. Real, durable things take a long time to build. Careers. Businesses. Relationships. Health. No hacks or shortcuts. The long way is the right way.

[Reads with Ravi @readswithravi]

James Clear: The ability to bounce back quickly is a key skill in life.

[True market Leader @TmarketL]

How to take advantage of the market correction..

[Reads with Ravi @readswithravi]

Increase Your Value:

[Ryan Holiday @RyanHoliday]

You know what’s better than building things up in your imagination? Building things up in real life.

[Ben Wilson @BenWilsonTweets]

10 Ideas from Episode #100 Lee Kuan Yew:

1. Don’t demand control first. Do a good job where you can and then seek and acquire more power.

2. Be obsessed with talent.

- LKY goes and gets top Asian talent at western universities early on for the government.

- “It had taken me some time to see the obvious, that talent is a country’s most precious asset. After several years in government I realised that the more talented people I had as ministers, administrators and professionals, the more effective my policies were, and the better the results.”

3. Give capable young people the reigns over the veterans (It's difficult but necessary).

- "The new MPs, bright young men who had won scholarships to renowned universities overseas and in Singapore, were taking over key jobs within three to four years of joining the PAP. The veterans felt that they should not have such an easy path to office, but should learn and wait. I did not think young and talented men would sit and wait; either they were going to make it or they would want to move on. It was an emotionally difficult but necessary changeover. I had to do it, whatever my own feelings.”

4. Connect with the common man.

He learned Mandarin and Hokkien at a high level and already knew Malay and English. Through it he could communicate with the diverse ethnic groups in singapore directly.

5. Connect with elites

LKY was very good at developing strong one-on-one relationships like with various British ambassadors, foreign statesmen like Kissinger, Bush, Tony Blair, and others. He was a great golf player, dinner companion, and very charismatic and social.

6. Only the paranoid survive (Book by Andy Grove, former CEO of Intel)

- "​​I was also troubled by the apparent over-confidence of a generation that has only known stability, growth and prosperity. I thought our people should understand how vulnerable Singapore was and is, the dangers that beset us, and how we nearly did not make it.

7. Another word for initiative is aggression.

8. In leadership not everyone has to be Hemingway, but you have to be clear.

- “Impress by the clarity of your ideas…I speak as a practitioner. If I had not been able to reduce complex ideas into simple words and project them vividly for mass understanding, I would not be here today.”

9. Always work on the biggest problem (like Elon Musk)

10. Be a united front externally

- "Differences on policy we kept within the cabinet until we had resolved them and reached a consensus. Then we would put forth a clear line which people could understand and accept. Once a decision had been taken in cabinet, we made a point of abiding by it.”

[Sahil Bloom @SahilBloom]

The older I get, the more I realize you can reinvent yourself as many times as you need. New habits. New mindsets. New standards. New people. New career. You’re never stuck. You’re allowed to change. Today, tomorrow, and as many times as it takes to create the life you want.

[CnEVPost @CnEVPost]

Nio sub-brand Onvo reaches 100,000th car production milestone

Delivery of Onvo's 100,000th vehicle is expected to be completed this weekend. https://t.co/pN7G1pyBz7 👇

[Oaktree @Oaktree]

To celebrate 35 years of @HowardMarksBook’s memos, we’re excited to release The Best of . . . , a curated collection of the memos he considers most impactful.

Watch Howard discuss this milestone: https://t.co/VCAXdJ1MQe
Read The Best of . . . now: https://t.co/XMmHODUObZ

[Sahil Bloom @SahilBloom]

Everyone needs to hear this…

The Surfer Mentality:

(a visual thread)

[Dhaval (Investment Books) @InvestmentBook1]

20 Most Powerful Paradoxes of Life by @SahilBloom