CA Updates 🇮🇳

Updates related to ICAI and CA Course In India

[Andrew D. Huberman, Ph.D. @hubermanlab]

The data on alcohol seem clear: 0 is better than any and 2 drinks per week is the max (for adult non-alcoholics) beyond which some negative impact is observed. Whether this is direct or indirect via perturbed sleep/microbiome is unclear. Details: https://t.co/dw7lbrvRrI

[Sahil Bloom @SahilBloom]

Best I’ve heard it framed:

If you’re poor and unhappy, more money will make you happier.

If you’re rich and unhappy, more money won’t make you happier.

[Vishal Khandelwal @safalniveshak]

The Sketch-wall of Wisdom 😇

[Orange Book 🍊📖 @orangebook]

You don't have time for regrets.

You don't have energy for anger.

You don't have mental space for envy.

You are too busy living a fulfilling life, surrounded by people you love, doing what you enjoy.

[Simon Sinek @simonsinek]

Success is a team sport.

[Daily Stoic @dailystoic]

7 Stoic lessons from Marcus Aurelius:

1. Be tolerant with others and strict with yourself
2. Don't be afraid to ask for help
3. Anger is the opposite of strength
4. No one can make you upset—you choose to be
5. The obstacle is the way
6. Helping others helps you
7. Memento mori

[Andrew D. Huberman, Ph.D. @hubermanlab]

How fasting impacts your ability to focus

[Mark Manson @Markmanson]

3 Important Life Skills (Nobody Ever Taught Us):

1. How to stop taking things personally
2. How to be persuaded to change your mind
3. How to act without knowing the result

[Ryan Holiday @RyanHoliday]

Be strict with yourself and tolerant of others. Your standards are for you.

[Perfect Guidance 🧭 @PerfectGuide_]

Master yourself, master the world.

[Prof. Feynman @ProfFeynman]

What do I advise? Forget it all. Don't be afraid. Do what you get the most pleasure from. Develop your talents wherever they may lead. If you have any talent, or any occupation that delights you, do it! Your work doesn't feel like work if you enjoy doing it.

[Mindset Machine  @mindsetmachine]

90% of your success is attributed to your attitude and approach rather than your innate abilities.

[Mark Manson @Markmanson]

What you can never change:
1. The past
2. The world
3. Other people

What you can always change:
1. Your attitude
2. Your assumptions
3. Your beliefs

[𝙋𝙖𝙢𝙢𝙮 ✨️ @_Pammy_DS_]

Having an emotionally mature partner is TOP TIER. You're able to express yourself freely and openly. They don’t insult you, they don't give you the silent treatment, they don't become aggressive or manipulative. They listen, they respond – they patiently hold a safe space for you

[DAN KOE @thedankoe]

Your mind is a supercomputer.

Your attention is the RAM.

Thoughts, regrets, and tasks are the programs slowing your performance.

Writing, mindfulness, and focus are the reboot you can access at any time.

[Compounding Quality @QCompounding]

15 Timeless investing principles everyone should know

✅ In the long term, not investing is risky
✅ Avoid costs and taxes
✅ Let your winners run
✅ Don't follow the herd
✅ Compounding can be beautiful
✅ Percentage gains needed to recover from a loss
✅ Buy stocks when consumer confidence is low
✅ Be cautious for mania
✅ Always invest during stock market crises
✅ Investing versus trading
✅ Never invest in the next big thing
✅ Investing isn't gambling
✅ True wealth is about love
✅ Avoid making stupid investing mistakes
✅ The longer your investment horizon, the better

[Perfect Guidance 🧭 @PerfectGuide_]

Be smart. Respond with silence. No regret.

[DAN KOE @thedankoe]

The solution to boredom is building.

Build a skill.
Build a brand.
Build your body.
Build your mind.
Build your social life.
Build anything.

It doesn't matter if you "don't know how."

That's the entire point.

You learn, act, and discover your way out of boredom.

[Compounding Quality @QCompounding]

The best Behavioral Finance book ever

Thinking Fast and Slow

Here are 10 things I learned

1️⃣ Our brain uses two systems: System 1 and System 2

System 1 is fast, intuitive and automatic. It is prone to biases and errors such as overconfidence.

System 2 is slow, analytical, and deliberate. It is necessary for complex tasks requiring focused attention.

2️⃣ Irrationality

Humans are not rational. We all make a lot of irrational mistakes.

90% of Americans think they can drive better than average and 70% think they are smarter than average.

3️⃣ Prospect theory

The prospect theory suggests that people feel losses twice as hard as gains.

Many people don't want to play a Heads or Tails game where they can win $100 but risk losing $50.

You should take this bet every single day.

4️⃣ The Halo Effect

The halo effect is a cognitive bias where your overall impression of a person influences your perception on their individual traits or qualities.

If you like someone, you'll overestimate their capabilities and vice versa.

5️⃣ Availability heuristic

The availability heuristic is a cognitive bias where you judge the likelihood of an event based on how easily it comes to mind.

A good example is 9/11 which made people afraid of flying.

6️⃣ Sunk cost fallacy

The sunk cost fallacy appears when you keep investing in something even if it's not worth it, simply because you've already invested resources in it.

Think about choosing to finish a boring movie because you already paid for the ticket.

7️⃣ Confirmation bias

People tend to seek out information that confirms their existing beliefs and ignore information that contradicts it.

As an investor, always talk with people who have opposing views. It will be very insightful.

8️⃣ Hindsight bias

The tendency, after an event has occurred, to believe that one would have predicted or expected the outcome.

A good example is that after attending a baseball game, you might insist that you knew that the winning team was going to win beforehand.

9️⃣ Framing effect

When the way information is presented influences your decisions and perceptions, we call it a framing effect.

For example: studies have shown that 75% lean meat is usually preferred over 25% fat meat, even though it's the same thing.

🔟 Anchoring effect

The anchoring effect is a bias where you rely too heavily on the first piece of information you receive when making a decision.

If you first see a car that costs $100k and then see a second one that costs $70k, you tend to see the second car as cheap.