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Charlie Munger on why comedy on Financial Twitter is useful:

"To make teaching endurable, it has to have enough wiseassery in it. And we do." "We’ve done a lot of preaching to not much effect. To the extent you’re working on it, you’re on the side of angels, but lots of luck.”
Munger once asked Buffett how he wanted to be remembered and Buffett said, “As a teacher.” Munger said he'd like to remembered that way too, but more likely he'll be remembered as a "wiseass."

google.com/amp/s/www.cnbc…
"Humor must not professedly teach, and it must not professedly preach, but it must do both if it would live forever.”

Samuel Clemens (Mark Twain)
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More from @trengriffin see all

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Tren Griffin
@trengriffin
1/ "If the price of a painting goes from $250 to $50 million in one hundred years, what's the annual rate of return? Buffett's answer was instantaneous: '13.0 percent.' The astonished Stavrou asked, "How did you do that?"

Robert Hagstrom writes in
"The Warren Buffett Portfolio"
2/ Buffett pointed out a compound interest table revealed the answer. (He's a walking interest table? Maybe.) Another way to approach the problem was "to go by the number of times it doubles ($250 doubles about 17.6 times to get to $50M, a double every 5.7 years, or about 13%."
3/ "I asked him whether he ever used a calculator." Buffett replied, "I never owned one and wouldn't know how to use one."
"But how do you do more complicated calculations?" Stavrou pressed. "Are you gifted?"
"No, no," Buffett said.
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Tren Griffin
@trengriffin
"Terrified that shrinking forecasts for economic growth are sounding the death knell for equities?" bloomberg.com/news/articles/…

I base a stock market investment on a GDP forecast, exactly never. That will continue.
"Nobody can predict interest rates, the future direction of the economy, or the stock market. Dismiss all such forecasts and concentrate on what’s actually happening to the companies in which you’ve invested.” Peter Lynch
"The investor’s time is better spent trying to gain a knowledge advantage regarding ‘the knowable’: industries, companies and securities. The more micro your focus, the great the likelihood you can learn things others don’t.” Howard Marks.
Read 3 tweets
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Tren Griffin
@trengriffin
Fred Wilson: "I read a piece on Alan Shugart, the founder of Seagate, one of the most successful disk drive companies. Alan was quoted as saying that 'cash is more important than your mother.' That got my attention because mothers are really important." avc.com/2019/11/cash-m…
"Cash is everything in a startup. It is the fuel that keeps the car running. Startups fail largely because they run out of cash. Forecasting cash is more art than science, particularly in a growing company. You have to engage in cash forecasting [and] engage in it regularly..."
There have been a lot of breathless articles lately about the need for startups to "get profitable." What's really happening is business are being forced to focus on cash and cash management. Shit happens. Having cash gives you optionality. Not having cash when needed is deadly.
Read 4 tweets

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Cyber Anakin
@cybanakinvader
.@twitter You don't need to delete inactive accounts to maintain #Twitter's integrity. Here's my idea; please scroll through this thread to know about it. @twittersupport @jack @delbius @vijaya @kayvz
You divide Twitter into an old sector on "1.twitter.com" and put all things we have now over there and a new sector at 2.twitter.com.
Handle pools would start afresh on 2.twitter.com while all users would be checked for activity by having them completing a prompt to switch over to the new sector along with their username & content,
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George Mack
@george__mack
CHARLIE MUNGER'S 7 IRON LAWS:

Charlie Munger has been the biggest COGNITIVE INFLUENCE on my life so far.

Here are a list of my favourite PRINCIPLES from the eccentric billionaire.

THREAD...
MUNGERS LAW #1 - IF IN DOUBT, INVERT.

“It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.”

Avoiding stupidity is easier than seeking excellence, yet nobody does it.
His golden piece of advice is two-fold:

1. Avoid being lazy
2. Avoid being unreliable

No matter how connected, well-read or talented you are - if you don't avoid these two, you are destined to fail.
Read 30 tweets
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Nikhilesh De
@nikhileshde
The dream team of @baidakova and De is back. We're live at #DTCCFintech, hosted by @The_DTCC today in New York. Thread for @coindesk starts here:
@baidakova @The_DTCC @coindesk Now on stage: @MikeBodson and R. Martin Chavez of @GoldmanSachs #DTCCfintech
Takeaways:
- GS has code on Github
- GS is trying to provide open-access APIs and such
- the US dollar has dematerialized to some degree already
-- (your money is not sitting in piles of cash)
#DTCCfintech
Read 43 tweets
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Tessa
@ClacesShadow
Shane is fangirling about meeting Rebekah and Kol, the Original vampires, and bragging about not being able to be compelled. Then Bex tells Kol to beat the location of the cure out of him. Lol. Imagine meeting your idols and they beat the shit out of you.
Back to this. "Truth or dare, Elena?"
"Dare." Damn that's brave.
"I dare you to tell Stefan the truth about Damon."
Sweetie, that's truth not dare, but I am here for this.
"Seriously?!" Caroline being there for Stefan again.
Bex is being really childish though
"Being with Damon makes me happy." HSHDFLK YES IT DOES.
"Makes you happy? Clowns make you happy Elena. Dig a little deeper."
Actually, clowns do quite the opposite of making me happy, but to each their own Rebekah. 🙈
Read 1801 tweets

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