Imran Akbarally

Chaiwala with no hidden agendas.

[Joe Pompliano @JoePompliano]

Roger Federer's retirement letter to Rafael Nadal is somehow even more classy than you would expect 👏

[Dr. Parik Patel, BA, CFA, ACCA Esq. @ParikPatelCFA]

In hindsight, slapping an iPad on an exercise bike was a zero interest rate phenomenon

[Anthony Pompliano 🌪 @APompliano]

"The secret to being successful from a trading perspective is to have an indefatigable and an undying and unquenchable thirst for information and knowledge." - Paul Tudor Jones

[Investment Wisdom @InvestingCanons]

Warren Buffett's tribute to Charlie Munger:

[Imran Akbarally @bluesbros12]

@hareshdesoysa @ParikPatelCFA In LKR terms I am smiling.

[Dr. Parik Patel, BA, CFA, ACCA Esq. @ParikPatelCFA]

Where to meet remarkable people:

• The pani puri stand
• Madras Cafe
• Apna Bazaar
• Costco
• Anywhere that sells samosas

Seek environments that attract motivated, high-agency people.

[Imran Akbarally @bluesbros12]

Manchester United Yearlong Deal to End With Ratcliffe Purchase https://t.co/VbO4LRpiMg

[George Mack @george__mack]

12 thoughts on incentives:

1. Don't ask your barber if you need a haircut.

2. "I can fix the $32 trillion US debt problem in 5 minutes. You pass a law that when there’s a deficit of more than 3% of GDP, all sitting members congress are ineligible for re-election” - Warren Buffett

3. 33% of British criminals were dying en route to Australia in the 1700s.

Britain switched from paying sea captains for every passenger who walked on the ship to paying them for every passenger who walked off.

Immediately, the survival rate shot up to 99%.

4. How to waste your time: Try to defy the laws of physics -- or try to get a man to understand something when his salary depends on his not understanding it.

5. “Never attribute to conspiracy what is more easily explained by incentives and incompetence.” - Naval

6. During the 1980's, the government of Athens came up with an idea to limit pollution: Odd-numbered and even-numbered license plates.

On dates with an odd number, the odd plates could drive. And vice versa.

The rich people just bought another car -- with even worse emissions. The streets got more jammed and the pollution got worse.

7. “If you reward profits alone, it’s the dumbest thing you could do. Employees will quit advertising and start shrinking the business” - Buffett

8. If video games teach us one thing: If you want to motivate humans, frequent rewards are more addicting than one-off rewards.

9. In Hungary, every woman who gives birth to 4 children or more never has to pay income tax.

Prediction for the next 2 decades: As populations decline, every government will be focused on child-bearing incentives.

10. “I think I've been in the top 5% of my age cohort all my life in understanding the power of incentives, and all my life I've underestimated it. And never a year passes but I get some surprise that pushes my limit a little farther." - Munger

11. If a person tells you why their thing is great (city, relationship, or job) - take it with a pinch of salt.

If they tell you why it's terrible - take it like a handful of gold.

If someone swims upstream against their identity and incentives, it probably holds some deep truth.

12. Skinner's Law: If procrastinating, 2 ways to solve it:

Option 1 - Make the pain of inaction > Pain of action

Option 2 - Make the pleasure of action > Pleasure of inaction

The person with a gun to their head and crack cocaine at the finish line doesn't need motivation.

[Joe Pompliano @JoePompliano]

Novak Djokovic's entire interview on 60 Minutes is excellent — but this clip of him talking about developing mental toughness is especially great.

“Even though there is no physical contact in tennis, there’s still a lot of eye contact”

[Anthony Pompliano 🌪 @APompliano]

More than 57% of all bitcoin in circulation has not moved in the last 2 years.

Holders rode the asset from $69,000 down to $16,000 and back up to $44,000.

Incredible. An all-time high amount unmoved.

[Mohnish Pabrai @MohnishPabrai]

We can never have enough Mungerisms:

https://t.co/6WNXPTNZ8w

[Elon Musk @elonmusk]

Beats a Porsche 911 while towing a 911

[Value Theory @ValueInvestorAc]

Charlie Munger passed away today at the age of 99.

Warren Buffett once said "Charlie has the best 30-second mind in the world"

How did he think so quickly & precisely?

Mental Models

Let's take a look at 21 of Munger's best:

[Imran Akbarally @bluesbros12]

RIP. https://t.co/ySM84XHQ7w

[Imran Akbarally @bluesbros12]

@APompliano @polina_marinova Congratulations Pomp! :)

[Imran Akbarally @bluesbros12]

@dougboneparth The key factor is that we make our coffee at home.

[Imran Akbarally @bluesbros12]

@ParikPatelCFA Doctor Saheb I don’t see any samosas.

[greg @greg16676935420]

Saving just a quarter a day will get you $9,125 in a year. Let that sink in

[Douglas A. Boneparth @dougboneparth]

Typical Gen Z Bank Statement:

$2,500 rent
$13 lunch
$400 student loan payment
$26 Uber
$1,000 medical bill
$8 coffee
$600 car payment

The issue is obvious. Had they made their coffee at home, they could have saved $7.