Perhaps the most significant is that it’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong — Stanley Druckenmiller I’ve been obsessed with asymmetric bets and looking for them wherever I can find them. These are bets where you …
I’ve been thinking about small things that can have a disproportionately large impact. For example, buying options against potential Black Swans. The cost of an option for an unlikely event occurring is generally small but if it happens, the upside can be huge. Conversely, you can have the opposite happen. Credit Suisse made $17.5m in …
Verizon has announced that it sold off Yahoo and AOL to Apollo for about $5 billion. As I consider Yahoo’s history, I think about lessons that we can learn from their fall from grace. As Charlie Munger once said, “All I Want To Know Is Where I’m Going To Die So I’ll Never Go There.” …
I’m the kind of person that likes to dive head first into ventures, getting bored of things quickly and then moving on to the next thing. These include blogging, affiliate businesses (paid traffic & SEO for SaaS and eCommerce businesses), eCommerce businesses, digital courses, self-publishing books under various pseudonyms, trading arbitrage situations, and bought 2 …
God, grant me the serenity to accept the things I cannot change, the courage to change the things I can, and the wisdom to know the difference. The Serenity Prayer is something I like to keep in mind on a day to day basis. It’s applicable to all facets of life and thereby a very useful principle …
The real source of wealth is not money. Money is abundant and plentiful. Fiat can be printed at will. It’s a means to an end. Useful knowledge that advances civilization on the other hand is scarce. Great thinkers like Newton enable progress. Consider for a moment what $1 million would have bought you 500 years …
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Otter Notes is a great application for note taking. It’s an automatic transcription software (available in desktop and for iPhone/Android) — it does the transcription in real time and while it’s not perfect, it’s pretty accurate and very useful. I use it for taking personal notes (which I’ll put into Roam Research) instead of having …