If mobsters held you at gunpoint and threatened to shoot you in the head unless you doubled your money within the next hour, here's what you'd do.
Go to the nearest baccarat table, put it all on "Banker," and hope the slight statistical advantage works in your favor.
If mobsters aren't holding you hostage and you have an infinite time frame for learning how to gamble profitably, you'd do things different.
You might spend three months studying books on poker, three months playing friendly no-monetary games online, and three months playing low stakes at various casinos.
Eventually you'd have a pretty good strategy and know enough about table selection, player psychology, and risk management to win consistently.
Same philosophy applies everywhere else.

The quick shortcut or banking on luck is far less effective than putting in a consistent effort and letting your results and experience compound over time.

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More from @XDays

8 Oct
HOW TO EXAPND YOUR WORDVIEW THREAD

Like it or not, most people live in an echo chamber. As such, they tend to develop one-dimensional thinking over time. Image
If you live someplace where everyone is fat, it's likely you'll end up fat as well. Or, at the very least, your attempts to get into shape will be met with HUGE resistance.

To crib a buzzword, your surroundings often become "The New Normal."

Here's how you shake things up:
1. Read Biographies

Reading is not a magic cure-all for your problems, and there are plenty of unexceptional and lazy people who read books.

HOWEVER, it is very rare that you meet a do-nothing who reads biographies.
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5 Oct
LEVERAGE THREAD

Warning, not for 99% of readers or the faint of heart.

If you like risk and are comfortable with the possibility of getting financially destroyed, read on.

Also, everything here is entertainment only.
Consumer debt is for idiots.

I have relatives who take out car loans so they can show off to their fellow non-executive coworkers at the job they'll be stuck in forever.

Peak stupidity.
Leverage, AKA rich man's debt, is what you use intelligently to juice your gains and buy more equity than you can currently afford.

Done right, you actually make money on your debt.
Read 18 tweets
4 Oct
What's the easiest way to increase your standard of living while LOWERING your expenses?

Geoarbitrage.

Quick thread explaining why. Image
Geoarbitrage is the art of making money in a high income area while living somewhere cheap.

Most people already do this (living in a suburb while working downtown). But you can supercharge your returns by moving to a large foreign city.
Countries that don't use the dollar are often much cheaper than the United States (same goes for Euros and whatnot too).

In Vietnam, for example, $1 USD = 22,000 VND. While nothing ever costs 1 Vietnam Dong, things are much cheaper than back home. Image
Read 11 tweets

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