It’s cool to see 53 year old Steve Stricker tied for 2nd going into the third round of the Phoenix Open
Here is a cool story about him
👇 👇
In 1997, a 30 year old Steve Stricker was paired for the first time with the 21-year old phenom Tiger Woods.
2/ After the round, Stricker would tell his wife (also his caddie) he was thinking about quitting the game. When he played Tiger he saw a person he couldn’t beat.
3/ How could he compete against someone that could drive the ball 50-yards longer, straighter, have shorter, better iron shots, better putts, etc.
Stricker points to that round of golf with Tiger as the start of a 10-year slump that would result in him losing his tour card.
4/ Stricker would make his comeback when he refocused on his strength, his accuracy and putting. Stricker would win comeback player of the year in 2006 and win 9-times on the PGA Tour.
5/ He started winning when he stopped comparing his game to Tiger, and focused on his own game.
It’s the same with investing. Don’t compare yourself to others. Focus on your own game.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
Forbes estimates that Beanie Baby creator Ty Warner’ net worth is $2.7 Billion. This is an amazing achievement considering a bulk of it was earned during a 3-year time frame selling a $5 per unit stuffed animal.
The fact that Ty Warner’s Beanie Babies were able, without the benefit of a single ad, to outpace the combined annual profits of the largest toymakers in the world for even a few years is unprecedented.
Frank Perdue took Perdue Farms, a small local company his father started, and grew it into a multi-billion-dollar business.
Mitzi Perdue tells this amazing story about her late husband:
👇👇👇
1) Frank had a tremendous head for figures. He treated numbers the way a doctor would treat an MRI: numbers enabled him to see and understand what was going on deep inside the business, plus numbers were a very quick way of detecting if something was going wrong.
2) I need to share something that happened when Frank was 85, maybe half a year before his passing. We were visiting Massachusetts General Hospital to assess how he was handling the Parkinson’s disease that was soon to take him.
You don’t hear much about full-time private investors because publicity doesn’t benefit them. In fact, publicity hurts them. Full-time private investors like the fact that even family and friends don’t quite know what they do for a living.
They like the fact that they’ve built up an extensive knowledge level in a niche of the market where it doesn’t benefit them to arm-wave their successes.
Microcap investors are mainly retail investors. Some of the best microcap investors I know are small business owners. They understand the complexity, volatility, and nuances of running a small business. Microcap isn’t an institutional asset class, it’s an entrepreneurial one.
Most "financial professionals" think you're dumb for investing in these small companies, but that is only because they can only buy them after they go up 10x, are 70% institutional held, and have 10 analysts covering them.
The financial machine loves lemmings.
The haters will say microcaps are sleazy slimy uninvestable companies. Yes, plenty of those. But a lot less than VC. The nice thing is most file audited financials with the SEC, and if you know how to read financial statements you can cut out a lot of the risk.
I've always loved Druckenmiller because he says the complete opposite of what they teach you
"The few times that Soros has ever criticized me was when I was really right on a market and didn't maximize the opportunity."
Stanley Druckenmiller
"The first thing I heard when I got in the business was, 'Bulls make money, bears make money, and pigs get slaughtered.' I'm here to tell you I was a pig. And I strongly believe the only way to make long-term returns in our business that are superior is by being a pig."
"Earnings don't move the overall market; it's the Federal Reserve Board... focus on the central banks, and focus on the movement of liquidity... most people in the market are looking for earnings and conventional measures. It's liquidity that moves markets."