RR 🌏🦅

I like predicting the future. Interested in finance and technology. Believe in the long term, whether relationships or investing.

[RR 🌏🦅 @renylr]

"Maybe all one can do is hope to end up with the right regrets." #arthurmiller @TheEconomist

[RR 🌏🦅 @renylr]

https://t.co/6y0pSRRmlj

[Muthukrishnan Dhandapani @dmuthuk]

1% of the top 1%, which is 0.01% of the world population. One needs a networth of $30 million to be part of this elite group. Roughly it works out to Rs.300 crores. There are only 13,000 such households in India.

23,000 households in India have a networth of Rs.100 crores or more .

1300 households have a networth of Rs.1000 crores or more.

229 billionaires in India, having a networth of around Rs.10,000 crores or more.

I've been speaking with people in wealth management industry and private banking to get a view of Tamilnadu. Here is what I gathered:

There are around 2000 families who own Rs.100 crores or more in Tamilnadu

There are around 1000 families who own Rs.300 crores or more

There are couple of hundred families who own more than Rs.300 crores

Here, wealth means all kinds of assets, except primary residence. It includes say multiple bungalows, agricultural lands and so on.

In all, around 25,000 families in the entire country have vast influence on the economy.

This post is just to give a view of very high rich people in Tamilnadu and India.

[RR 🌏🦅 @renylr]

@Ronitper

[Uzi @UziCryptoo]

Every Sunday I go to Costco and look for people pulling up in $125,000 cars who stand in line for 22 minutes to return a $8.99 item.

I’ll ask them where they work and then go long the stock.

I’m up 271% this year.

[RR 🌏🦅 @renylr]

Alhamdulillah

[RR 🌏🦅 @renylr]

This “situation” currently called a war will end within a week for UAE.

[Elon Musk @elonmusk]

@Sajwani UAE rocks!

[Navalism @NavalismHQ]

Be like family to your friends, a friend to strangers, and a stranger to your enemies.

@naval

[RR 🌏🦅 @renylr]

@crypto_birb The social experiment that never fails!

[Compounding Quality @QCompounding]

Joel Greenblatt averaged 40% annual returns.

Not once. Not twice.

But for over 20 years!

He shared his exact method in The Little Book That Still Beats the Market.

Here are the 10 biggest lessons:

[RR 🌏🦅 @renylr]

The final stretch imho. Be careful!!! #beatthestreet

[Compounding Quality @QCompounding]

Everyone should read Poor Charlie's Almanack at least once a year

Every single sentence is pure magic

Here's a detailed summary:

[Muthukrishnan Dhandapani @dmuthuk]

We've aims and goals. And suddenly our priorities change. I was growing very fast as a mutual fund distributor. Had I not stopped adding new clients in 2017, I would be the largest individual distributor in the country now. Post 2017, I've said no to many worth from tens of crores to even hundreds of crores.

Had I continued adding new clients, I would be billing not less than Rs.30 to Rs.40 crores every year. Add to that my policy of not accepting any money for social media posts. That is foregoing at least few crores rupees every year.

With a potential to bill upto Rs.50 crore per annum, I'm billing only a fraction of it now.

Though I'm worth in millions of dollars, I should have been worth few hundred crores today.

This is all because I wanted to live life on my terms. I live every single day precisely in the way I want. I've lot of free time and I enjoy whiling it away. I've watched every single moment of my son's growing up. I read a lot. I enjoy tweeting.

I've been blessed with such a huge following. But I've been posting with same authenticity even when I had few hundred followers.

Be it wealth, social media influence, goodwill in the society, extensive reading, the list in long - destiny has been kind enough to place me among top of the population.

I know how to compound wealth. It would compound as long as I live.

My son has developed the crazy desire of becoming billionaire, despite me telling there are only less than 200 such people in India and 3000 in the entire world.

When he reach his early twenties, want to setup small businesses and run them along with him so that he gains experience.

Life is very fragile. Death can come to anyone at any time. I'm no exception. But I would leave with the satisfaction that I lived every single day in the way I wanted.

No specific reason for this post. Just Sunday musings.

[Kelsey @kslack1313]

I’ve always loved his emphasis - none, zero.

[Billy Oppenheimer @bpoppenheimer]

As he was struggling to break into Hollywood, Matt Damon read about how Quentin Tarantino did it:

Essentially, he got a big-name actor (Harvey Keitel) to want to star in Tarantino’s first movie (Reservoir Dogs) then leveraged that to get the movie funded.

“And so,” Damon said,

“We wrote ‘Good Will Hunting’ and that part that Robin [Williams] eventually took—we called it ‘the Harvey Keitel part.’”

“Ben [Affleck] and I wrote the movie specifically because we wanted the parts as actors…But we knew [we needed] a big-name actor who could get us some money because Ben and I were worth nothing.

And so we wrote ‘the Harvey Keitel part’ really open-ended. So we could adjust it: if Morgan Freeman or Denzel Washington wanted to come in and play it—we could make that character from Roxbury [a neighborhood in Boston], and we could explore the historic racial tension in Boston. If Meryl Streep took the part—instead of a father-son relationship, we could make it a mother-son relationship.

So we really left it open-ended because we wanted to cast as wide a net as possible because we were just trying to get the movie made.”

“And then once we got Robin to sign up to do it, that’s really what got us a green light to make it…He changed our lives.”

Takeaway 1:

In one of my favorite talks, "Runnin' Down A Dream," the venture capitalist Bill Gurley explains that while studying the career trajectories of three of his heroes—the restauranteur Danny Meyer, the coach Bobby Knight, and the musician Bob Dylan—he noticed a pattern:

They studied the career trajectories of the icons in their respective industries. Like Damon, they studied how others successfully got their foot in the door then climbed to top of their profession. And then, they took similar steps towards doing the same.

Coincidentally, Tarantino did this too. He made scrap books for each of his favorite filmmakers: Brian De Palma, Howard Hawks, Douglas Sirk, and Martin Scorsese. "I was like a film historian," Tarantino said. "I was obsessed with studying how they did it, the evolution of their careers."

"Greatness isn't random," as Gurley puts it. Instead, it's usually a predictable step along a studied path of strategically modified emulation and, of course, determination.

Takeaway 2:

In the clip above, Damon goes on to explain that, not only did Robin Williams sign on to be in "Good Will Hunting," he also went off script and improvised one of the most iconic lines ("Son of a bitch, he stole my line") in the movie.

It reminded me of something Pixar co-founder Ed Catmull writes in his book, Creativity. Inc.:

"Getting the right people is more important than getting the right idea…If you give a good idea to a mediocre team, they will screw it up. If you give a mediocre idea to a brilliant team, they will either fix it or throw it away and come up with something better."

- - -

“Bob Dylan said, 'I'm a musical expeditionary.' I looked up 'expeditionary'—it's to travel for scientific research or exploration. And that's what Dylan did...For hours upon hours upon hours, he studied what other artists did. He was a mimic. He was studying, studying, studying.” — Bill Gurley

Follow @bpoppenheimer for more content like this!

[Thomas Fahrer @thomas_fahrer]

I still think about @saylor's blueprint for an exceptional life:

1. Focus your energy
2. Guard your time
3. Train your mind
4. Train your body
5. Think for yourself
6. Curate your friends
7. Curate your environement
8. Keep your promises
9. Stay cheerful and constructive
10. Upgrade the world

If I were to add a few of my own, they would be:
1. Focus on the process
2. Think long term
3. Take responsibility, no matter what

What would you add?

[Vitaliy Katsenelson @vitaliyk]

Envy is the deadliest sin out there.

Charlie Munger tells the story of Mozart to illustrate this point.

Mozart was the greatest musical talent that ever lived.

What was his life like?

He was bitterly unhappy, and he died young.

That’s the life of Mozart.

What the hell did Mozart do to screw it up?

He did two things that guaranteed misery:

1. He overspent his income.
2. He was full of jealousy and resentment.

If you overspend your income and are jealous and resentful, you will have a lousy, unhappy life and die young.

All you have to do is learn from Mozart.

[Navalism @NavalismHQ]

"The purpose of wealth is freedom."

@naval

[Navalism @NavalismHQ]

"Be so big that it’s cool to hate you."

@naval

[Elon Musk @elonmusk]

Incompetence, in the limit, is indistinguishable from sabotage