I particularly enjoy watching companies undergoing a time correction for years. If the business is strong, you can skip 4-5 years of waiting by picking when the market has gone too far in underestimating the company. (1/4)
It’s a demand led inflation. Don’t let anyone tell you otherwise
And there is only one way to cool demand led inflation.
- Suck out liquidity
- raise interest rates and
- and fucking do whatever it takes to kill the consumption
When I meet somebody after years,I always analyse:have they improved?Is their thinking better?Do they display new skills?Have they evolved?
Always surprised how few people improve in any aspect of their being: thinking, fitness, personality, etc.
Improvement is tough
Working 3 years at J.P. Morgan IB was crucial in my decision to startup.
It taught me:
1. No amount of money was worth living unhappily for
2. I could live quite happily with very little money
These two reasons gave me an almost irrational resolve to buildd my startup.
When you ride on a tiger's back, the best way is to wait and survive till the tiger dies. The other way is to keep riding the tiger, till either of you die.
The central banks should shrink their balance sheets in the same fashion as these were expanded. Slow and gradual.
After coaching a lot of very successful people, here's an unsexy truth:
A lot of success is learning to grind when it's boring.
Staying engaged, working, and seeing it through when it's "boring" is a skill. If you expect all building to be exciting, you'll never make it.