To get better at investing, study great investors
I recently read through @chamath's account to learn more about his investing process & principles
Here are 12 key lessons that will make you a better investor:
I recently read through @chamath's account to learn more about his investing process & principles
Here are 12 key lessons that will make you a better investor:
1/ Write a 1-page summary BEFORE you invest
I love this idea. I already do it with my checklist & journal, but I love the idea of writing a 1-page paper too
Writing forces you to slow down & think things through
Start doing it!
I love this idea. I already do it with my checklist & journal, but I love the idea of writing a 1-page paper too
Writing forces you to slow down & think things through
Start doing it!
https://twitter.com/chamath/status/1369328384812093441?s=20
2/ Zoom out to find the big problems
Chamath zoom's out to find the biggest problems in the world, then zoom's in to find companies that can solve those problems
Big problem = Big opportunity
Chamath zoom's out to find the biggest problems in the world, then zoom's in to find companies that can solve those problems
Big problem = Big opportunity
https://twitter.com/chamath/status/1355924348486381569?s=20
3/ Get in early
If you think you've found an idea that will work, invest right away
The biggest returns come from investing when the company is still small
If you think you've found an idea that will work, invest right away
The biggest returns come from investing when the company is still small
https://twitter.com/chamath/status/1381280556290244609?s=20
4/ Consider hidden risks
Chamath thinks that a carbon tariff is a BIG risk. This wasn't even on my radar!
I regularly update my checklist when I find a risk that I should be considering. Perhaps I need to add climate change/carbon tax?
Chamath thinks that a carbon tariff is a BIG risk. This wasn't even on my radar!
I regularly update my checklist when I find a risk that I should be considering. Perhaps I need to add climate change/carbon tax?
https://twitter.com/chamath/status/1380170899069009925?s=20
5/ A blank slate is an underestimated advantage
Startups have no sunk costs. No legacy systems to protect. They can adopt the newest tools, techniques, & business models (counter-positioning).
Starting from scratch can be a BIG, overlooked advantaged
Startups have no sunk costs. No legacy systems to protect. They can adopt the newest tools, techniques, & business models (counter-positioning).
Starting from scratch can be a BIG, overlooked advantaged
https://twitter.com/chamath/status/1358170492272787463?s=20
6/ Listen to your gut with management
Integrity matters. If you get the sense that management lacks integrity, TAKE A PASS!
Integrity matters. If you get the sense that management lacks integrity, TAKE A PASS!
https://twitter.com/chamath/status/1354947541125611526?s=20
7/ Trust the process
Short-term results will fluctuate wildly
Long-term results will only be as good as your process
If you develop a good process, trust it. The long-term will take care of itself
Short-term results will fluctuate wildly
Long-term results will only be as good as your process
If you develop a good process, trust it. The long-term will take care of itself
https://twitter.com/chamath/status/1357819830884204544?s=20
8/ Audit yourself & learn from your mistakes
Chamath passed on $COIN
Rather than bemoan his decision, he asked himself "what did I get wrong?"
Notice how he ends that tweetstorm — with praise & well wishes for the team!
Chamath passed on $COIN
Rather than bemoan his decision, he asked himself "what did I get wrong?"
Notice how he ends that tweetstorm — with praise & well wishes for the team!
https://twitter.com/chamath/status/1379564925966815236?s=20
9/ Admit when things aren't going well
Don't be afraid to admit publically when your portfolio is getting smashed & your strategy is having a setback
Don't be afraid to admit publically when your portfolio is getting smashed & your strategy is having a setback
https://twitter.com/chamath/status/1368247773481500673?s=20
10/ Consider the macro
This hit home:
"Early in my investing life, I would respond to fear of the unknown with bravado. Then I would usually lose a ton of money..."
Perhaps I use 💎🙌 thinking too much myself?
This hit home:
"Early in my investing life, I would respond to fear of the unknown with bravado. Then I would usually lose a ton of money..."
Perhaps I use 💎🙌 thinking too much myself?
https://twitter.com/chamath/status/1376567529754095616?s=20
11/ Study history
I'm not a financial history buff, but @morganhousel & @InvestorAmnesia are
My short-cut is to study/read what they write
I'm not a financial history buff, but @morganhousel & @InvestorAmnesia are
My short-cut is to study/read what they write
https://twitter.com/chamath/status/1375244032230625281?s=20
12/ Have fun!
Investing can be dry. Make it FUN!
When I need a laugh, I head to @ParikPatelCFA, @dougboneparth, & @Cokedupoptions accounts
Investing can be dry. Make it FUN!
When I need a laugh, I head to @ParikPatelCFA, @dougboneparth, & @Cokedupoptions accounts
https://twitter.com/chamath/status/1370944714996740096?s=20
Enjoy this thread?
I regularly tweet about money, investing, and self-improvement
Follow me @BrianFeroldi
You may enjoy all the other threads that I’ve written
I regularly tweet about money, investing, and self-improvement
Follow me @BrianFeroldi
You may enjoy all the other threads that I’ve written
https://twitter.com/BrianFeroldi/status/1386309937597321218?s=20
Summary:
1: Write a 1-page paper
2: Zoom out
3: Invest early
4: Find hidden risks
5: Blank slate = good
6: Integrity matters
7: Trust the process
8: Audit yourself
9: Admit mistakes
10: Consider the macro
11: Study history
12: Have fun
1: Write a 1-page paper
2: Zoom out
3: Invest early
4: Find hidden risks
5: Blank slate = good
6: Integrity matters
7: Trust the process
8: Audit yourself
9: Admit mistakes
10: Consider the macro
11: Study history
12: Have fun
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