An average trader makes a trade and feels good. A great trader makes a trade and feels nothing. As in be cold and act, don’t get hung up on emotion. -Billions
“There’s no such thing as writer’s block. Writer’s block is real, but it does not exist. What it really is, is misnamed: ‘I have a fear of bad writing. I have a fear of what the world will say when it encounters my bad writing.’ The way through is to do your bad writing. You don’t have to ship it to the world, but you have to do the bad writing. Bad writing, over time—if you do enough of it—can’t persist. Good writing will slip through.” — Seth Godin
NEW podcast episode is up!
A compilation of hard-won advice on building a writing practice: how to start before inspiration arrives, work through resistance, make room for imperfect drafts, and keep going.
Featuring @GilbertLiz, @ANNELAMOTT, @JoyceCarolOates, @JerrySeinfeld, @marykarrlit, @ThisIsSethsBlog, and @BrandSanderson. Listen now.
Just finished The Market Wizards: The Next Generation. Incredible read.
Here are the top lessons that stuck with me.
-Take the first small loss. The first loss is almost always the cheapest one. The longer you wait, the more it costs you, both in money and in the mental energy spent hoping it turns around.
-Any stock can do anything. No matter how strong your thesis is, the market does not care. A stock can defy logic, fundamentals, and every chart pattern you know. Respect that uncertainty and never bet like you have it figured out.
-Being early is being wrong. You can have the right idea and still lose if your timing is off. The market can stay irrational longer than your account can stay solvent, so wait for confirmation instead of trying to predict the turn.
-Stop out quickly. When the trade goes against your plan, exit fast. Hesitation turns a small, manageable loss into a damaging one. The stop is there to protect you, so honor it.
-Try to get green as fast as possible to prove you are in the right trade.
-Focus on defense more than offense. Protecting your capital matters more than chasing big wins. You cannot make money if you blow up your account, so survival comes first and the gains follow.
-Don’t hope, just get out. Hope is not a strategy. The moment you find yourself praying a trade comes back, that is your signal to close it. Hope keeps you in losers far too long.
-Size based on how attractive the trade is. Not every setup deserves the same size. Push hard when the odds are clearly in your favor and stay small or pass when they are not. Your best ideas should carry the most weight.
-Scale back once you have made it. A common pattern among the Market Wizards: after achieving real success, many traders deliberately pull back the time and energy they pour into the markets so they can live more balanced lives. The goal was never to trade forever. It was to win and then enjoy it.
I was especially mesmerized by Simon Russo’s story.
@jackschwager@gfc4
New episode! 🚨
10 years of options trading experience in 60 minutes.
@ravishoptions presents two strategies to generate consistent 10k per week returns:
→ Delta neutral trading
→ Calendar spreads
Watch it here 👉 https://t.co/yKPqfJ05lU
Full podcast episode with @rauchg, @maxhodak_, and @bscholl.
40 minutes of unreleased material.
The AI Industrial Revolution
Part 1: Waste Tokens, Save Time
0:00 Three Frontier Founders
1:27 AI Software Factories
4:15 Waste Tokens, Save Time
5:47 Models Instructing Humans
9:29 Is Pure Software Dead?
12:03 You Don't Get Stuck Anymore
Part 2: Vibe Coding Hardware
14:39 Vibe Coding a Turbine Blade
18:07 Open Source Compounds China's Advantage
20:15 You Always Want the Smartest Model
22:44 Software Still Needs Hands
24:43 Humans Are Becoming Verifiers
Part 3: The Regulatory Frontier
27:53 The Regulatory Red Queen Race
32:32 Why There's No Innovation in Healthcare
36:49 We Need a True 50-State Experiment
40:31 China's FDA Is Beating Ours
43:37 Healthcare Is a Communist Society Inside Capitalism
45:57 Sid's Story: N-of-1 Medicine
Part 4: The Autonomous Company
47:49 Autonomous Infrastructure
51:25 Your Job Is to Train the Agent
54:54 The Next Lord of the Rings
59:08 What's Your Definition of Art?
1:05:00 Can AI Have New Ideas?
1:07:03 A Large Number of Small Teams
Streaming services killed movie nights and made everything bland as hell.
Let’s be real, streaming killed actual movie culture. You spend 20 minutes picking something then settle for some bland-ass Netflix original that’s forgettable as hell.
Streaming made entertainment “easy,” but it also sucked the soul out.
@PlanetFitness on the televisions in the gym, please make it illegal for franchisees to have the news on the television. We’re here to get motivated, not depressed.
Your kids need you.
Your wife needs you.
Your business needs you.
And somehow you still show up.
No excuses. No spotlight. No complaints.
Respect to the men who are grateful & carry the load without complaining.
🫡