Investing 101: Successful investing is all about behavior and psychology.
You can have the best model or analysis in the world but if you panic, you lose.
Said differently, everybody has a plan until they get punched in the face.
Let's begin...
Costco is a fascinating business.
You know all those groceries you buy?
Yeah, they basically sell those at breakeven and then make all of their profit from the $60 annual membership fees.
Quick [THREAD]
Most people need consistency more than they need intensity.
Intensity:
-run a marathon
-write a book in 30 days
-silent meditation retreat
Consistency:
-don't miss a workout for 2 years
-write every week
-daily silence
Intensity makes a good story. Consistency makes progress.
Me: Hey, what's the Wifi password?
Barista: You need to buy a drink first.
Me: I'll have a Latte, please.
Barista: £3, please.
Me: There you go, now what's the Wifi password?
Barista: You need to buy a drink first. No spaces and all lowercase.
ladies, if a guy...
-remembers your birthday
-knows what you enjoy
-saves your pictures
-harvests your data
-keeps your passwords in plaintext
this guy is not your man.
this guy is mark zuckerberg.