Sri

[Sri @fixius14]

@zerodha /@Nithin0dha /@nikhilkamathcio Can you guys maybe create a Proverbial Coffee Can Construct 🥫within the Zerodha Kite UI such that I can put stocks inside it and don't have to look at the Gains/Losses every time I log in and I can save myself from myself by not selling

[Sri @fixius14]

@CapitalmindMF Folks, can you help me understand how Federal Bank, a 4.2% holding in Capital Mind Flexi Cap Fund trades at 2 times Book value compared to say IDFC First Bank or Indusland Bank? Is it just a consequence of a higher/better ROE?

[Finding Compounders @F_Compounders]

“If you are not disciplined in the little things, you won’t be disciplined in the big things”

[Sri @fixius14]

@jrkelly That's great, I lost 84%/$294 investing in $DNA still Holding, do you think you'll ever break even to your previous highs?

[Dirtcheapstocks @dirtcheapstocks]

Thoughts on Situational Awareness.

Every few years we get a chance to learn the same lesson:

Leverage will kill you.

Borrowing money to buy liquid assets that have rapidly changing values is a recipe for disaster.

Why?

Because when you’re levered, you’ve got to be right at all times. If the stock trades below your band of expected value at any point, you are done.

You can be right 500 days in a row. But if you’re offside on day 501, it’s over.

That should be obvious, but smart people make that same mistake over and over.

Archaegos, Amaranth, LTCM. All the same thing when you boil it down.

What’s the lesson for an individual investor?

First and foremost, don’t trade on margin.

Beyond that, keep plenty of cash on hand. I always say to keep twice as much as you think you need. Think you need 6 months of spend? Keep 12.

As @iancassel says, keep your fixed costs low and your variable costs variable.

In terms of investing, I like companies that are heavy on cash and light on debt. And I like to buy them at less than 10x a conservative estimate of normalized earnings.

And finally,

If you have the opportunity to invest in a business that is making money in a new way… don’t.

[Sri @fixius14]

#5) Best Case Hydrogen Fuel Cells doesn't win against current case Batteries then obviously it doesn't make sense, that will become apparent in the next few years. It will be super obvious as time goes by.

[Sri @fixius14]

@elonmusk on use of HYDROGEN FUEL CELLS 10 years ago 🧵

#1) Hydrogen is an energy storage mechanism, it's NOT a source of energy so if you get it from H20 - Electrolysis is extremely inefficient as an energy process
Contd.

https://t.co/Np2HY55YyC

[Sri @fixius14]

#4) If you are going to pick an energy storage mechanism, H is an incredibly dumb one to pick. You should just pick Methane or Propane

[Sri @fixius14]

@MebFaber Now, down to $70.83 Meb and since you are always generous to make a PDF available later on as you have for your past books - folks might inadvertently wait for the free eBook

[Sri @fixius14]

@MebFaber $76 for 196 pages - What is the rationale behind such a high cost please?

[Dividendology @dividendology]

I think about this often.

[Sri @fixius14]

@PaperBozz SELL Half of it immediately, you only need to get rich *checks notes*…………Once!

[Sri @fixius14]

@dollarsanddata May Congratulations to you and your wife, Nick. I am sure you will make a great dad!

[Kevin Carpenter @kejca]

Charlie Munger: "Envy, resentment, revenge, and self-pity are disastrous modes of thought. Self-pity gets pretty close to paranoia."

"When you avoid it, you get a great advantage over almost everybody else — because self-pity is a standard condition."

[Ronit Pereira @CAronitpereira]

“I am not a victim, I’m a survivor. I don’t like any feeling of being victimised, so I just put my head down and adjust without ever feeling betrayed.”

“It’s a very counterproductive way to think as a human being.”

- Charlie Munger. 2011

[Sri @fixius14]

Re-reading @dollarsanddata's amazing book "Just Keep Buying"
Punchlines:
- Focus on INCOME over Expenses
- Don't Buy Individual Stocks
- Just Keep Buying esp in a downturn
- Beware of Lifestyle Creep
- Think of Existential side of retirement than just Financial

[Kevin Carpenter @kejca]

MUNGER: It takes a long time to read [an] annual report — even if it's a comparatively simple business. If you're really trying to understand it, it's not a bit easy.

BUFFETT: On average, in a business we're really interested in, it's gonna be 45 minutes or an hour on a report.

[Big Brain Business @BigBrainBizness]

Elon Musk, after learning Australians were skipping meals due to energy costs: "I didn't expect that. We'll work harder."