Frederik Gieschen Profile picture

Apr 11, 2021, 12 tweets

Notes from a recent talk by @yliownyc about training, edge, game selection.

"What is your plan to be among the best performers?"
"Are you even the top 5% version of you?"

- Never fight fair fights
- Train hard
- Do good things with good people ('play infinite games')

What you can decide today (=what is in your control):
- How fast you learn
- How successful you *can* be

"Quality of your life sits on the other side of
focused effort (and tremendous struggle)"

Lots of strategies that can work and the hall of fame

Hall of fame patterns:
- Survival
- Process-driven
- Basis to predict outcomes
- Assess and price risk
- Ability to navigate volatility, mistakes
- Boldness when opportunity presents itself

Buffett: created structural advantages and survived drawdowns

"The genius of the man is how he structured his life and his business"

In order to learn and improve you need a repeatable process

Extreme volatility is like flying with zero visibility. Need a system to help navigate those moments

Game selection: "Choosing which game we play is the most important decision we make"
- This is where you will spend your attention and energy
- Pick a game you can win repeatedly and that is valuable

Stable asset/company value: 'high prediction environment'
Volatility can be your friend (if you survive)

Look for the bottom of the "Swoosh" which has "accumulated potential"

Pattern recognition & focus

Full talk here:

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