1/ The benefits of writing down your ideas is one of the topics I discussed with Patrick OShaughnessy's father in our recent Infinite Loops conversation. I also argued putting your ideas "out there" in public is an act of bravery. investorfieldguide.com/hinkie/

h/t Liberty
2/ "If you can't write it down, you haven't thought it through" Buffett has said. The writing process exposes the missing or broken elements of your ideas. It forces you to think things through. The next step is to put it out in public. That potentially exposes writing to fire.
3/ When you publish your writing, you're basically putting your emotions and your heart out there. You are saying, "This is me." Anyone can attack it. And people, lots of people, do. Any public act of creation, like writing a book or starting a business, is an act of bravery.
4/ "Be brave. Be audacious and put your ideas in writing. Dialogue going back and forth is wonderful because you learn. If someone says, "Well what about this?" You probably weren't clear in explaining it. There's a hole in your thought. Writing is cathartic. Writing is art."
5/ Some people don't write. Their creative outlet is starting a business or painting. Others are more talkers than writers. That's all good. But if you want to temper your ideas in a forge to make them strong an act of bravely pays dividends since you're drenched with feedback.
6/ Making mistakes is how you learn. Be brave.

As you get older, there are some lousy things can appear in your life. Back pain is just one example. One of the best things about being older is that its far easier not to care about what other people think. I don't give a shit.

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More from @trengriffin

20 Dec
That 982 megahertz isn't designated for use in Earth-based satellite communications means exactly nothing.

Its nearly certain that intelligent life in Proxima Centauri would have their own frequency allocation systems. They also don't use G designations. scientificamerican.com/article/alien-…
The radio waves emanating from just 4.2 light-years away are concentrated at 982.002 megahertz, which is nice.

To test the source of the waves, Berkeley scientists sent back a message at the same frequency asking if they wanted to make dinner reservations at The French Laundry.
What human-created 982 MHZ sources exist?

"That's also the wavelength (982MHz) of the Intel Stratix 10 FPGA as well as the NVIDIA GeForce RTX 2060 6 GB GDDR6 with ROG Boost (Base: 982 MHz) and Fermi DVFS (982 MHz at 0.981V)."

These aliens are planning to sell FPGAs in Q1 2021!
Read 4 tweets
19 Dec
1/ Charlie Munger said this week: "What helps everyone is to get in something that's going up and it just carries you along without much talent or work. You've got a big tailwind."

Making that prediction hard: everyone is dealing with complex systems. 25iq.com/2013/07/11/a-d… Image
2/ Munger also said this week: "Good investing requires a weird combination of patience and aggression, and not many people have it."

One huge investment people make is in their career path. How do you know when to "bet big" on something that will create that career tailwind?
3/ In the late summer of 1993 I saw a potential career and investing tailwind coming in the form of a commercially valuable Internet.

You may recall in my blog post on Tupac that I quoted Marc Andreessen describing the consensus view in 1994 in this way: 25iq.com/2018/08/18/les… Image
Read 6 tweets
16 Dec
1/ I said in my recent Infinite Loops podcast that I Iove telling stories and this is one:

"You've got to show strength" was Milken's first comment. "How much you looking for?"

"225."

"We'll have to show strength. We'll go for $275," Milken said. archive.seattletimes.com/archive/?date=…
2/ Once when I was part of a team raising money for a startup Michael Milken advised us to focus in raising money from people who recently became wealthy. He said that “old money” is far too attached to it. “Focus on the recently rich" was his advice. 25iq.com/2015/12/26/a-d…
3/ Milken was actually talking to Rufus Lumry.

"Lumry was incredulous. 'How in the world can you get this done when no one else can? When Salomon and PaineWebber can't get this done.'

Milken smiled. 'Your problem is, you went to veterinarians when you wanted brain surgery.'"
Read 4 tweets
16 Dec
@LT3000Lyall Charlie Munger has said numerous times: 1) the level of skill is far higher in investing now; 2) bargains that existed after the Great Depression have disappeared; and 3) trading pieces of paper isn't a particularly noble way to contribute to the world. amazon.com/gp/aw/d/023117…
@LT3000Lyall “The investment world has gotten tougher. Maybe now we have small statistical advantages, when before it was like shooting fish in a barrel.” “We can’t bring back the low hanging fruit; we will have to reach for higher branches.” 25iq.com/2017/06/02/a-d…
@LT3000Lyall "We had idiot competition when we were young. Now we’ve got tough competition scrounging every area and little niche. It's way harder. It’s gotten hard to find easy value investments because the world is so competitive." Charlie Munger wsj.com/articles/dinne…
Read 4 tweets
15 Dec
1/ Peter Bevelin, who has written books like “Seeking Wisdom: From Darwin to Munger,” provided me with a rough transcript of the Charlie Munger talk from yesterday. I did some clean up and editing and focus on points I didn’t make in my tweets yesterday. amazon.com/Seeking-Wisdom…
2/ “All successful investment involves trying to get into something where it's worth more than you're paying. That's what successful investment is. There are a lot of different ways to find something worth more than you're paying. You can do what Sequoia does [e.g, in VC]."
3/ “Good investing requires a weird combination of patience and aggression and not many people have it. It also requires a big amount of self-awareness about how much you know and how much you don't know. You have to know the edge of your own competency."
Read 34 tweets
15 Dec
"You can't live a successful life without doing some difficult things that go wrong. That's just the nature of the game, and you wouldn't be sufficiently courageous if you tried to avoid every single reverse." Charlie Munger
"A lot of brilliant people think they're way smarter than they are. And of course that's dangerous and causes trouble. I think great investors to some extent are like great chess players. They're almost born to be investors."

Charlie Munger bloomberg.com/news/articles/…
"So many people are investing and the frenzy is so great and the reward systems are so foolish. I think the returns will go down. Nobody knows when bubbles are gonna blow up. We're in very uncharted waters. This has been unbelievable. There's never been anything quite like it."
Read 6 tweets

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