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Brian Feroldi Profile picture
@BrianFeroldi
Apr 25, 2020 • 4 tweets • 1 min read • Read on X
Books

Personal finance:

Choose FI
You Money or Your Life
The Wealthy Barber
The Richest Man in Babylon
Think and Grow Rich
Rich Dad, Poor Day
The Millionaire Next Door
The Millionaire Mind
Stop Acting Rich
Investing:

Motley Fool Investing Guide
Little Book That Builds Wealth / Beats the Market
You Can Be A Stock Market Genius
One Up on Wall Street
Intelligent Investor
Magic Formula Investing
Margin of Safety
Common Stocks & Uncommon Profits
A Zebra in Lion Country
Biographies:
Snowball - Alice Schroeder

Accounting:
Warren Buffett & Interpretation of Financial Statements
How to Read a Financial Report
Quality of Earnings
Wall Street:

Confessions of a Street Addict
Education of a Speculator
Flash Boys
The Big Short
Liar’s Poker
Money Ball

• • •

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More from @BrianFeroldi

Brian Feroldi Profile picture
May 16
My worst investing decisions ever all contain the same word:

Sell

But that doesn't mean I "buy and forget"

Here are the exact reasons I will exit an investment: Image
1: Thesis Busted

Translation: I was wrong

This could be because:
▪️Brand deteriorated
▪️Management isn't executing
▪️I misjudged the moat
▪️Rising competition

If the original reasons I bought are no longer valid, I admit defeat and move on
2: Accounting Irregularities

If I can't trust the numbers, I'm out.

Accounting Irregularities = You are dead to me forever
Read 14 tweets
Brian Feroldi Profile picture
May 12
How to analyze an income statement, FAST.

Study these 7 infographics:

1: Income Statement Overview Image
2: Three Types of Analysis Image
3: Net Income vs Free Cash Flow Image
Read 8 tweets
Brian Feroldi Profile picture
May 11
The most powerful investing principles I've ever learned are counterintuitive.

That’s logical - if they were intuitive, I wouldn't need to learn them.

Here are 7 counterintuitive investing principles I had to learn the hard with (with visuals) Image
1: Don’t haggle

If a stock is trading at $21, I used to set a limit order for $20.50

But my orders usually didn't fill.

Haggling caused me not to BUY a few mega-winners.

Which is FAR MORE costly than slightly overpaying. Image
Think of it this way:

If stock checks all your boxes and goes from $20 to $200

Does it matter if you got in at $19.56 or $21.25?

If you think a stock has 10x potential from today's price, don’t haggle over pennies.

Just buy it.
Read 18 tweets
Brian Feroldi Profile picture
May 8
I bought my first stock 21 years ago.

Here are 21 harsh investing truths I learned the hard way:

1: The worst mistake is to sell a mega-winner early Image
2: Humans are pre-programmed to be bad at investing.

3: Your personal finances are 10x more important than your investments.

4: Handle volatility is 100x easier in theory than in reality.
5: Confidence in your strategy will rise and fall in lock-step with asset prices.

6: The best stocks put their owners through gut-wrenching volatility. The worst stocks do, too.

7: You're going to be wrong—a lot. Be humble.
Read 10 tweets
Brian Feroldi Profile picture
May 6
How to Read 10Ks Like a Hedge Fund

Here’s what metrics professional analysts focus on (using $MA as an example:) Image
1: Business overview.

Understand everything about how the business works, like:
- What is the business model?
- Who are the key suppliers, distributors, partners?
- Revenue quality?(Recurring? Recession proof?)
- What is the revenue split from products / services? Image
2: Risk Factors

Most of these are standard.

Identify the risks that are company-specific and make sure you understand them. Image
Read 14 tweets
Brian Feroldi Profile picture
May 5
"I actually spend more time looking at balance sheets than income statements."

- Warren Buffett, 2025 Shareholder Meeting

Here's exactly how to analyze a Balance Sheet in less than 2 minutes: Image
The balance sheet is one of the three major financial statements.

It shows a company’s:
▪️Assets: What it owns
▪️Liabilities: What it owes
▪️Shareholders Equity: It's net worth

At a fixed point in time Balance Sheet
That “at a point in time” part is key!

A balance sheet is a SNAPSHOT of a company’s net worth.

It is measured at the end of a quarter/year. Image
Read 11 tweets

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