Jobs are stressful. So is unemployment. Not finding a partner is stressful. So is having one. Working in an office is stressful. So is working with your hands. Having 50 clients is stressful. So is having none. Life is full of trade-offs. Don’t romanticise options you don’t know.
Alexandr Wang says he's waiting to have a kid, until tech like Neuralink is ready.
The first 7 years are peak neuroplasticity. Kids born with it will integrate in ways adults never can.
AI is accelerating faster than biology. Humans will need to plug in to avoid obsolescence.
Having survived two previous market resets (2001, 2009), people frequently ask me how this 2022 market reset is different and how it is the same. The obvious similarity is that valuation multiples have collapsed. We went from a "glass very full" mindset to one with many concerns.
A fundamental Risk Management principle:
Avoid “path dependence” as much as possible.
That is, our outcome should depend only on end *state*, and NOT on the *path* taken to get there.
We may be right long term. But to get there, we MUST survive whatever happens short term.
Making money is hard ...especially if you're new to investing ...and/or don't have anybody to save you. | inspired by @nntaleb
https://t.co/FydhfAuPq6
https://t.co/UtMieIFQSw
The only way to effectively deal with negative emotions, the only way to really reduce them, is through the mind, through the application of counteractive mental states that oppose the negative emotions affecting us. That’s the only real, long-term way to reduce them.
Aside from narcissistic insensitivity, prbm w/ @jordanbpeterson is the pseudostatistical crap that produced IQ, Eugenics, scientific racism, & now "objective" aesthetics.
If there's a biological/noncultural preference for *some* shapes, it has a high VARIANCE across subjects.
How do we create a culture where it's harder to set (or become) the topic of public conversation by doing something terrible and easier to do so by doing something great?
14 Knowledge-Packed 🧵s on Fundamental Analysis
Becoming a great long-term value investor is difficult, but luckily it's very learnable for a disciplined mind!
Here are some amazing resource on:
- financial statement analysis
- how to model companies
- growth metrics
& more!
👇
Since I’ve been asked a lot:
Buy stock in several companies that make products & services that *you* believe in.
Only sell if you think their products & services are trending worse. Don’t panic when the market does.
This will serve you well in the long-term.
The largest consequence of Elon taking over Twitter may well be not any specific policy decision he makes, but rather the morale effect of his supporters feeling emboldened and his detractors feeling like they are arguing on enemy territory. This is happening already.
An entire generation of entrepreneurs & tech investors built their entire perspectives on valuation during the second half of a 13-year amazing bull market run. The "unlearning" process could be painful, surprising, & unsettling to many. I anticipate denial. Some thoughts:
1/
The Founders, written by my friend Jimmy Soni (@jimmyasoni), is one of the best business biographies I've read.
It's the story of PayPal and the early days of the Internet -- featuring @elonmusk, @peterthiel, @DavidSacks, @mlevchin, etc.
Here are 7 nuggets from the book: 👇
1/
Math is amazing.
Here’s a trick question that will take us deep into probability theory:
Suppose that I give you a circle, and ask you to pick a point A in the circle at random.
What’s the probability that A is closer to the outside of the circle than it is to the center?
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Get a cup of coffee.
In this thread, I'll show you how to read and understand a company's Balance Sheet.
As investors, we should be able to judge businesses by looking at their financial statements.
And the Balance Sheet, of course, is 1 of 3 key financial statements:
Get a cup of coffee.
In this thread, I'll walk you through 8 key concepts related to compounding and exponential growth.
To be a successful Jedi Knight, one must deeply understand the Force.
To be a successful investor, one must deeply understand the "force" of compounding.