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Tren Griffin
@trengriffin
, 3 tweets, 1 min read Read on Twitter
His use of the term "adjuncting" brings to mind adjuncts who teach college classes. People who write books often also don't understand that their work product doesn't have enough scarify value to have any pricing power. That the work outputs are "public goods" is a big challenge.
"College teaching has become a pickup job, like driving for Uber, for small stipends and little or no guarantee of permanence." wsj.com/amp/articles/t…
Average per-course pay for an adjunct teaching a three-credit course was $3,984, but figures spanned a “huge range."' insidehighered.com/news/2019/04/1… A worker's scarcity-power is what drives pricing power which determines income. Supply is the enemy of value.
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Tren Griffin
@trengriffin
"Bogle recommended a simple portfolio consisting of a bond index fund and a stock index fund, adjusted for the investor’s age." google.com/amp/s/www.bloo…
"Most investors will find that the best way to own common stocks is through an index fund that charges minimal fees. Those following this path are sure to beat the net results (after fees and expenses)." berkshirehathaway.com/letters/1996.h…
"I think it is roughly right that the market is efficient, which makes it very hard to beat merely by being an intelligent investor. But I don’t think it’s totally efficient at all. The top three or four percent of the investment management world will do fine.” Charlie Munger
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Tren Griffin
@trengriffin
"2019 is about really focusing on the unit economics of the business.” google.com/amp/s/www.lati…
Unit economics 101: google.com/amp/s/25iq.com…
The unit economics of Sirius XM in a sample quarter: 25iq.com/2017/08/19/wha…
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Tren Griffin
@trengriffin
1/ "They arrived at 10 a.m. And by 11 we had a deal. And they had us committed unequivocally, come hell or high water, for $10 billion." google.com/amp/s/www.cnbc…
Munger: “We’re guessing at our future opportunity cost. Warren is guessing that he’ll have the opportunity to put capital out at high rates of return... Our hurdles reflect our estimate of future opportunity costs.” google.com/amp/s/25iq.com…
WB: “The trouble isn’t that we don’t have [a hurdle rate] – we sort of do – but it interferes with logical comparison. If I know I have something that yields 8% for sure, and something else came along at 7%, I’d reject it instantly. Everything is a function of opportunity cost.”
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I’ve always loved science, but I was bad at it. I got D grades in most of my high school science classes. Now I write books with some of the best doctors and scientists in the world. How? The answer involves this elephant, the National Security Agency, and a porn star… A baby elephant, named Zuri, stands in front of a man-made river in her pen at Utah's Hogle Zoo, in this Deseret News photo by Keith Johnson.
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