Hi Friends this post I highly recommend you to read and post your comments, these are life changing articles.
Have a great and Happy life. I highly expect you to share the learning with your family and friends.
#1. You will learn about investing from the legendary Investor Peter L. Bernstein. Great Insights for Investors
A (LONG) CHAT WITH PETER L. BERNSTEIN
#2. The importantance of Luck from one of the greatest Thinker : Khaneman
The thought father: Nobel Prize-winning psychologist Daniel Kahneman on luck
#3. What you think, you become. The power of thoughts, if you plant a good thought in your mind you will experience positive thoughts similarly if you plant a negative thought you will experience negative thinking. So be carefull with your thoughts.
The Next 32 Minute will Change your Life for Ever! (Not Religious)
Enjoy!!! Have a Great Week
Tweets that makes sense to me, hope you will enjoy as much as I do.
Have a Great Day, Enjoy!!
This memo covers three ways in which securities markets seem to be moving toward reducing the role of people:
(a) index investing and other forms of passive investing,
(b) quantitative and algorithmic investing, and
(c) artificial intelligence and machine learning
A fascinating discussion, please read it and enjoy!!
Investing Without People, Howard Marks
Every week I go through a ton of reading, these are the interesting content I found useful for this week.
I hope you will enjoy as much as I do.
If you enjoy it please share and comment your feedback.
Quote, I’m pondering —
“The big question about how people behave is whether they’ve got an Inner Scorecard or an Outer Scorecard. It helps if you can be satisfied with an Inner Scorecard.”
— Warren Buffett
How Much is Enough?
Smarter, Not Harder: How to Succeed at Work
Courage to Be Yourself: E.E. Cummings on Art, Life, and Being Unafraid to Feel
How 10 Billionaires Surmounted Failure to Build Massive Empires
“How do you guys have time to manage money, between tweeting and writing and tv and radio?”
Enjoy and Have a Great Week End.
I will tell you in a single line.
Be ready to take advantage of the opportunities to succeed.
Here is a story from Charlie Munger on how to Succeed.
The combination of patience and opportunism is important.
Charlie had a great-grandfather who had a great influence on his life. This man was one of Charlie’s only ancestors who became rich.
He toldCharlie that you have to be ready to take advantage of opportunities to succeed. This is what they do at BRK. They are always ready.
You do not want to be timid when great opportunities arise.
It is kind of like how most marriages don’t work and you may have only one chance to marry the right person.
Naval is one of the greatest minds out there in public forum, he is a great reader, thinker. Here is a thread of tweet he shared recently which made a lot of sense on few important aspects of life like wealth, knowledge.
Here is the collection of the thread please read it and enjoy!!
- Seek wealth, not money or status. Wealth is having assets that earn while you sleep. Money is how we transfer time and wealth. Status is your place in the social hierarchy.
- Understand that ethical wealth creation is possible. If you secretly despise wealth, it will elude you.
- You’re not going to get rich renting out your time. You must own equity – a piece of a business – to gain your financial freedom.
- You will get rich by giving society what it wants but does not yet know how to get. At scale.
- The Internet has massively broadened the possible space of careers. Most people haven’t figured this out yet.
- Play iterated games. All the returns in life, whether in wealth, relationships, or knowledge, come from compound interest.
- Pick business partners with high intelligence, energy, and, above all, integrity.
- Learn to sell. Learn to build. If you can do both, you will be unstoppable.
- Arm yourself with specific knowledge, accountability, and leverage.
- Specific knowledge is found by pursuing your genuine curiosity and passion rather than whatever is hot right now.
- Building specific knowledge will feel like play to you but will look like work to others.
- When specific knowledge is taught, it’s through apprenticeships, not schools.
- Specific knowledge is often highly technical or creative. It cannot be outsourced or automated.
- Embrace accountability, and take business risks under your own name. Society will reward you with responsibility, equity, and leverage.
- The most accountable people have singular, public, and risky brands: Oprah, Trump, Kanye, Elon.
- “Give me a lever long enough, and a place to stand, and I will move the earth.”
- Fortunes require leverage. Business leverage comes from capital, people, and products with no marginal cost of replication (code and media).
- Capital means money. To raise money, apply your specific knowledge, with accountability, and show resulting good judgment.
- Labor means people working for you. It’s the oldest and most fought-over form of leverage. Labor leverage will impress your parents, but don’t waste your life chasing it.
- Code and media are permissionless leverage. They’re the leverage behind the newly rich. You can create software and media that works for you while you sleep.
- If you can’t code, write books and blogs, record videos and podcasts.
- Leverage is a force multiplier for your judgment.
- There is no skill called “business.” Avoid business magazines and business classes.
- Reading is faster than listening. Doing is faster than watching.
- You should be too busy to “do coffee,” while still keeping an uncluttered calendar.
- Set and enforce an aspirational personal hourly rate. If fixing a problem will save less than your hourly rate, ignore it. If outsourcing a task will cost less than your hourly rate, outsource it.
- Work as hard as you can. Even though who you work with and what you work on are more important than how hard you work.
- Become the best in the world at what you do. Keep redefining what you do until this is true.
- There are no get rich quick schemes. That’s just someone else getting rich off you.
- Apply specific knowledge, with leverage, and eventually, you will get what you deserve.
- When you’re finally wealthy, you’ll realize that it wasn’t what you were seeking in the first place. But that’s for another day.