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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