Shelly

We lament lost opportunities and achievements, but forget to be thankful for what we have now

[Brian Armstrong @brian_armstrong]

Crypto moves money forward!
💸

[Paul Grewal @iampaulgrewal]

Once upon a time, I thought patent lawyers were masters of the art of needlessly complicating a handful of basic ideas through argot and inside references. Then I met some securities lawyers.

[Paul Grewal @iampaulgrewal]

"I'm sorry, so sorry
How long must you punish me?
Why can't we just move on?
Let bygones be bygones
But you never will
What's the difference
If this time I'm the one that did the wrong?
Should it matter?"

Dolly Parton, "Bygones." And the SEC in its sur-reply in Debt Box.

[Paul Grewal @iampaulgrewal]

So the tokens themselves are once again the securities? What was said to a SDNY judge last week, in open court, was false?

[Paul Grewal @iampaulgrewal]

0.34%. I'm sorry, I missed the number for cash. Surely it can't be higher than that?

[Hunter Horsley @HHorsley]

1/ After 10 years, America finally has spot bitcoin ETFs.

Today, for millions of investors, the gates to bitcoin are finally open.

Today, progress prevails again. And crypto takes a giant step forward.

At @bitwise, we’ve been alongside you in this incredible ecosystem for 6+ years.

We're proud to launch $BITB, the Bitwise Bitcoin ETF.

A thread on the path to BITB.

[To view BITB’s disclosures and prospectus, visit https://t.co/kjsBn1pXSy.]

[Brian Armstrong @brian_armstrong]

Enjoyed reading @cdixon 's new book Read Write Own

Suggest you pick up a copy! https://t.co/H5BJPYDTMG

[David Senra @FoundersPodcast]

I love Jeff Bezos’s idea of step by step, ferociously:

“We know from our past experiences that big things start small.

The biggest oak starts from an acorn.

If you want to do anything new, you’ve got to be willing to let that acorn grow into a little sapling —and then into a small tree.

And then maybe one day it will be a big business on its own.

You can’t skip steps.

You have to put one foot in front of the other.

Things take time. There are no shortcuts.

But you want to do those steps with passion and ferocity.”

[Morgan Housel @morganhousel]

Every smart person I know is a voracious reader who also says, “every smart person I know is a voracious reader.”

[Shelly @ShellyPete79633]

Only when people treat each other sincerely can they be true friends

[David Senra @FoundersPodcast]

14 ideas from Buffett and Munger I don’t want to forget:

1. The one thing that has surprised me all my life is how many people with high IQs do massively stupid things.

2. Berkshire was a small business at one time. It just takes time. It is the nature of compound interest. You can't build it in one day, or one week.

3. Unfortunately, Bertrand Russell's observation about life in general applies with unusual force in the financial world:

"Most men would rather die than think. Many do.”

4. The sign above the players' entrance to the field at Notre Dame reads:

'Play Like a Champion Today.'

I sometimes joke that the sign at Nebraska reads

'Remember Your Helmet.'

Charlie and I are 'Remember Your Helmet kind of guys.'

We like to keep it simple.

5. You need an ability to not be driven crazy by extreme success.

6. It's so easy to get so busy that you no longer have time to think—and you pay a huge price for that.

7. We've had enough good sense when something was working well we keep doing it.

8. While an excess of self-regard is often counterproductive in its effects on cognition, it can cause some weird successes from overconfidence that happens to cause success.

9. We have been a student of other's folly, and it has served us well.

10. I like to deal with people where I feel a one-page contract would do the job.

11. Always try to simplify things to their essence–the fundamental or most important aspect of something—the core.

12. Real wisdom is not the knowledge of everything, but the knowledge of which things in life are necessary, which are less necessary, and which are completely unnecessary to know.

13. In almost sixty years of investing, we've found it practically useless to give advice to anyone.

14. The real issue is mediocrity. There are too many .240 hitters on boards.

Businesses often settle for a notch or two above mediocrity.

[Daniel Mahncke @MnkeDaniel]

21 Learnings from The Almanack Of Naval Ravikant:

1. Prioritize Assets over Money

2. Making money is a skill to learn, not a thing to do.

3. Hard work without the right direction doesn't get you anywhere.

4. All gains come from compound interest. Financially, relationship-wise, etc.

5. Gain specific knowledge. Specific knowledge is the knowledge that you care about.

6. Use the benefits leverage offers.

7. There are 3 Forms of Leverage:

a) Labor: People working for you
b) Capital: Money works for you
c) Products with no Marginal Cost of Reproduction

8. Specific Knowledge + Leverage = Reaching Your Goals

9. Productize yourself.

10. Build foundations in multiple fields instead of focusing solely on one subject.

11. You need equity to earn nonlinearly.

12. Follow Curiosty, not trends.

13. Do things for their own sake. Do them because you like doing them.

14. Optimize your independence rather than pay.

15. In all aspects of life, avoid ruin. Keyword: Downside Focus

16. Work on your good karma.
Karma will pay off because people are consistent.

17. Make luck find you. You do that by being persistent and building a reputation.

18. Networking is a waste of time. Build and let the right people find you in the process.

19. Great work will have great outcomes. Just be patient.

20. Do something that feels like play to you and like work to others.

21. You are completely in control of your own happiness, and you have no control over the happiness of others.

[Paul Grewal @iampaulgrewal]

While claiming to “regret” its “errors,” the very same agency’s Chair on the very same day is again browbeating an entire American industry. There is no humility, reflection or restraint. Why should any judge or taxpayer have any faith in this “regret”?

[Shelly @ShellyPete79633]

I love Thai food and there are Thai restaurants in Miami😋😋

[Compounding Quality @QCompounding]

Joel Greenblatt turns 66 today!

He compounded at more than 30% per year with his Magic Formula.

Here's what you need to know:

[Invest In Assets 📈 @InvestInAssets]

Pool Corporation's 10-year performance:

- Revenue CAGR: 10.76%
- EBIT: 17.16%
- FCF: 26.71%
- ROCE: 20.7%

An interesting business. What do you think about Pool?

[Shelly @ShellyPete79633]

If you want to have something you've never had, then you have to do something you've never done

[Shelly @ShellyPete79633]

No one lives in the past, and no one lives in the future. The present is the only form that life truly possesses.

[Shelly @ShellyPete79633]

@coloradotravis For many, the values and principles of liberal democracy are closely associated with Western culture and history

[Jeremy Hogan @attorneyjeremy1]

John's book is exactly what I expected from his legal work:

Direct and Brutally Honest.