MY FATHER SPENT 32 YEARS STUDYING MARKETS AND LEFT ME 12 RULES
Most people learn these the expensive way
Price falls 5% → Hold
Price falls 15% → Buy 10%
Price falls 25% → Buy 20%
Price falls 40% → Buy 30%
Price falls 60% → Buy 40%
Price rises 5% → Hold
Price rises 20% → Hold
Price rises 25% → Sell 10%
Price rises 40% → Sell 20%
Price rises 50% → Sell 35%
Price rises 70% → Sell 40%
Price rises 100% → Sell 90%
Always keep 10% as a moonbag
Never go all in, never go all out
Simple framework, almost nobody follows it
Follow me - the people who do tend not to regret it
📌 Concentration is only half the rule.
The other half is what makes it work:
Cut losses immediately. No exceptions.
Druckenmiller has spoken openly about blowing up positions that didn't work.
He didn't average down. He didn't "give it more time." He didn't convince himself the thesis was still intact.
When the market told him he was wrong — he listened.
This is the part nobody talks about.
Everyone wants to copy the concentration.
Nobody wants to copy the ruthless cutting.
You cannot run a concentrated portfolio without an iron rule on losses.
The two are inseparable.
Jim Simons once said:
“If you’re going to trade with models, you follow the models completely. No emotions. No second-guessing. No ego.”
That single lesson from his MIT talk completely changed how I approach trading.
Bookmark it.
Re watch it.
Study it.
French client making €900K/year.
Paid €410K in taxes last year.
His plan: "Maybe move to Portugal."
Portugal still taxes worldwide income.
We moved him to Malta.
He operates through a US LLC owned by a Panama SA that sits inside a foundation.
His net worth grows inside a Swiss bank.
He remits €31K.
Pays €5K tax in total.
From €410K to €5K.
His accountant back home: "That can't be right."
It is. You just need the right structure.
The Top Finance Newsletters of 2026:
- Citrini - thematic investing (⭐)
- East Asia Econ - macro commentary on China/Taiwan/Korea/Japan (⭐)
- The Transcript - earnings call transcript analysis (⭐)
- Capital Employed - interviews, links to stock ideas (⭐)
- Latticework - John Mihaljevic’s Substack (⭐)
- Sunday’s Idea Brunch - interviews with great investors (⭐)
- Astutex - trend-scanning through alt-data (⭐)
- HFI Research - oil & gas (⭐)
- Net Interest - Marc Rubinstein’s blog (⭐)
- Healthy Stock Picks - global healthcare sector specialist (⭐)
- DMT Capital - Young investor with a talent for short-selling (⭐)
- Byron Street Research - small-cap ideas from a pro (⭐)
- KEDM - event-driven ideas from Harris Kupperman’s team (⭐)
- ToffCap - High-quality special sits ideas (⭐)
- Yet Another Value Blog - Andrew Walker’s Substack (⭐)
- Bireme - Poker player Evan Tindell’s fund that also invests in Japan (⭐)
- Clark Square Capital - stock ideas from around the world (⭐)
- Cluseau Research - US-based investor with a tilt towards financials (⭐)
- Floebertus - opportunistic investing globally (⭐)
- Gezzogero - German investor investing global small caps (⭐)
- Halvio Capital - a talented global hedge fund (⭐)
- Sector Stories - ex-buyside analyst turned sailor and blogger (⭐)
- Sweet Stocks - Alex Sweet’s stock ideas (⭐)
- The Mikro Kap - micro-caps from David Katunarić (⭐)
- Undervalued Shares - Swen Lorenz’s newsletter (⭐)
- A Value Fund - Tim McElvaine’s fund (⭐)
- Alluvial Capital - Dave Waters’ fund (⭐)
- Base Hit Investing - John Huber’s blog (⭐)
- Bonhoeffer Capital Management - Keith Smith’s global value hedge fund (⭐)
- Kerrisdale - US long/short fund occasionally writes about Asian equities (⭐)
- Speedwell Research - high-quality deep dives (⭐)
- The Science of Hitting - Alex Morris’s blog (⭐)
- Ian’s Insider Corner - LatAm/North American stock ideas from Ian Bezek (⭐)
- Value and opportunity - Germany-based blogger (⭐)
- Asian Century Stocks - Asian value stocks (⭐)
- Collyer Bridge - Singapore-based Substack covering exciting new themes (⭐)
- East Asia Stock Insights - Value stocks in East Asia (⭐)
- Made in Japan - growth stocks in Japan (⭐)
- Offpiste Investing - great curation of Asia-related links (⭐)
- One Foot Hurdle - Taiwanese and Hong Kong equities (⭐)
- Smartkarma - a research platform for institutional investors (⭐)
- Bronte Capital - John Hempton’s Sydney-based long/short fund (⭐)
- East72 Dynasty Trust - Andrew Brown’s fund focusing on global equities (⭐)
Do NOT take this list too seriously. It's based on what I've read - what I can personally vouch for. If your publication is not included, it's probably because I haven't read enough of it. Maybe next year.
Michael
Finance analysts earn $95k–$250k/year.
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God has given each of us a personal guardian angel from the moment of our conception until death, a heavenly protector assigned by divine love. The Catholic Church teaches this clearly, and the saints urge us to turn to them in prayer with confidence and devotion.
Here are three powerful reasons, rooted in the Catechism of the Catholic Church and the reflections of the saints:
✅ For Divine Protection
Our guardian angels watch over us constantly, shielding us from harm, both physical and spiritual. The Catechism of the Catholic Church (CCC 336) affirms: “From its beginning until death, human life is surrounded by their watchful care and intercession.”
St. Jerome reflects on the dignity this brings: “How great is the dignity of souls, that each person has from birth received an angel to protect it.”
✅ For Spiritual Guidance
They act as faithful shepherds, leading us toward eternal life with God. As St. Basil the Great teaches (quoted in the Catechism): “Beside each believer stands an angel as protector and shepherd leading him to life.”
✅ For Faithful Friendship and Intercession
Our guardian angels are our closest companions, with us day and night, interceding before God and helping us especially in temptation and prayer.
St. John Vianney encourages us: “Our guardian angels are our most faithful friends, because they are with us day and night, always and everywhere. We ought often to invoke them.”
St. John Bosco adds: “When tempted, invoke your angel. He is more eager to help you than you are to be helped.”
Pray to your guardian angel today, thank them, ask for their help, and grow in friendship with this heavenly guide God has given you.
The Guardian Angel Prayer:
Angel of God, my guardian dear,
to whom God’s love commits me here,
ever this day be at my side,
to light and guard, to rule and guide.
Amen🇻🇦
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@Divergent7651 Enquest and Petrotal. #ENQ low mcap high production, great pricing, tax losses. Petrotal $tal.to low mcap, will start drilling again and get back to 20k bopd by year end, now doing 13-15k bopd, good pricing, low debt. https://t.co/E4jzMVshMK
De wakkeren zijn hun eigen probleem. Ik ken ze al 22 jaar (had in 2005 het grootste 'complotforum') en ze zullen NOOIT onderdeel zijn van een oplossing.
Het zijn teleurgestelde mensen die niets liever willen dan de oorzaak daarvan buiten zichzelf leggen en anderen daarin meetrekken. Een boze overheid, een schimmige cabal, 'ze'. En dat maakt ze vatbaar voor valse profeten (zoals de influencers die geld aan hen verdienen) en hysterische groepsjank (de rage baiting accounts). Maar ook voor psyops.
De emotie is makkelijk te herkennen in de manier van discussiëren. Voor ons of tegen ons. Tautologisch. Onlogisch. Feitvrij.
In 2004 werd er al over EXACT DEZELFDE onderwerpen gesproken. Er is letterlijk niets nieuws gaande, hooguit wat verschil in implementatie of technologie. Er is ook helemaal niets veranderd. Hoewel, minder graancirkels. En de CBDC heette toen anders. Maar de chemtrails waren er al, de petrodollar stond al op vallen, de zionisten waren al ontmaskerd, de overheid was ons al aan het slaven, de energy weapons, de regime changes, de plandemiën en de prikjes, de maanlanding, alles was er al.
Wat we nodig hebben, is een truth movement. Feitelijkheid voor alles. Een no-bullshit truth movement.
Pas dan zullen we zien dat de oplossingen er ook gewoon zijn. Altijd al zijn geweest.