Some books within minutes , force you to ditch the e-version of kindle & buy the hard copy instead !🙂

The Joys of Compounding is one such 💎
Content ( Curation + Creation ) at its finest !

Compressed JUST A FEW takeaways in this 🧵

Invest in yourself. Read.
Self educate. Think in isolation !

Everything in life can teach you when you possess the right mindset.
Read across a wide spectrum,for the scenes change but the behaviours & outcomes don't.

How to go about #READING & #THINKING effectively.

First Principles Thinking requires us to delve deeper & question everything until one is left with the fundamental truth in essence.

Deconstruct to effectively
Reconstruct ! ( Both in times of Greed & Gloom )

How to apply it to the field of #ValueInvesting
Know the difference between Being Rich & Staying Rich.

Quite a few become rich , FEW maintain it - For it requires humility , gratitude & a constant learning mindset.

Think probabilistically.
Consume content wisely.
Apply #LindyEffect to learning.

Some pointers
Some #TimelessWisdom

Don't sulk on missing out on trophies or fame.
Enjoy life's tiny delights .There are plenty for all of us !

For one day when we look back we shall realise that it was the little things that mattered the most ! 🙂
My fav !!

This one is on #Simplicity & Occam's Razor concept.

▫️Remember Warren Buffett's Golden Rule for successful Investing.

Rule 1- Never lose Money.
Rule 2- Never forget Rule 1.

▫️As Munger says ,
"Take a simple idea & take it seriously."

Some v.imp pointers
Achieving Financial Independence opens up a plethora of choices.

The ABILITY to choose the way to spend one's TIME being THE most important one.

How to go about achieving #FI ?
It's simple ( but not easy ) & straight forward since time immemorial 🤷🏻‍♀️

Moving onto Living Life😇

Inner scorecard > Outer

Something endorsed by Warren Buffett also.

Let your life be guided by internal principles, not external validation.
Strive to be the best version of YOURSELF ! In living a fulfilling life.

Applies to Fund Managers also!
Short Term Pain for Long Term Gain.

Organic revenue growth is the most important driver of shareholder returns for companies with high returns on capital.
But most managers aren't willing to suffer for S.T, consequentially hurting their chances of L.T success.

Look for CEO's who :

▫️Are good Capital Allocators + Discuss it rationally + Walk the talk + Are consistent .

▫️Focus on recurring Cash Flows

▫️Publish meaningful Financial + Operating goals + Clean B/S

▫️Are candid in communication with shareholders + Simplistic
#Checklists remind us that we aren't infallible & must exercise caution.
Follow process of elimination & stick to checklist.
Helps immensely in Due Diligence.

The book shares some excellent checklists including Munger's psychological one. ( Read the book to know more ! 😀)
( Something I can vouch for !!)

#Journal to remain true to yourself & avoid hindsight bias.

*Track all important decisions
*Write down your thesis & anti thesis
*When in doubt , read it to avoid being wavered
*Write,make better decisions,be happier ! True for Life also!
Charlie Munger on Skin in the Game.

An example of a really responsible system is the system Romans used when they built an arch.
The guy who created the arch stood under it as the scaffolding was removed.
It's like packing your own parachute.

Some pointers & examples

As investors we don't need perfection.Being fairly right with a good MOS suffices.
Focus on finding MOS & not why estimates were missed in a quarter.

Refrain from overuse of Excel spreadsheets. Not everything can be quantified correctly !
Nuanced judgement is needed.
Determining the Intrinsic Value is an art.

It is the sum of cash flows expected to be received from that asset, over the remaining useful life, discounted for the Time Value of money & uncertainty involved.

Read it to appreciate it !
MOS matters.
When you pay a lot entry price, you don't need too many good things to happen to get good returns.Even bad news impact is restricted.

As Buffett states,

Each line in this chapter is 👌
If a particular stock displays a price volume B/O to 52 week/multiyear/ATH with LARGE volumes, start reading about it.

Time frame is important.

Find out why someone is willing to pay a high price for it now ?
What has changed in its fundamentals ?

Much more in the 📗
What is competitive advantage?

It's a company's ability to generate excess returns ( ROIC - Cost of Cap) - this done continually enables Competitive Advantage Period.

Great businesses produce high returns on incremental invested capital + have pricing power.
Find them!
Temperament matters !

Your lifetime track record as an investor will be determined primarily by HOW you conduct yourself during occasional periods of extreme market behaviour .

Be fearful when others are greedy.
Be greedy when others are fearful.
( Rings any bells ? 😬 )
Don't aim for exceptional returns. They won't last long!

Rather settle for Consistent Returns over a long time.

A Bull Market hides many mistakes which become visible in a Bear Market.
Develop a sound philosophy & stick to it.

To Finish First , You Must First Finish !

* Keep separate Emergency Funds
* Say NO to Leverage
* Have TIME as your friend.
* Accept being wrong
* Discipline > Smartness ( in LT)
* Diversify wisely in unrelated sectors
* Embrace Volatility
* Quality only
We have two classes of forecasters .
Those who don't know & those who don't know that they don't know .

They shall fill your EARS , NEVER your POCKETS.

Stop wanting to make sense of everything & TIMING markets.
Focus on what can be controlled.
Embrace change ! Don't be rigid.

Flexible thinking is of paramount importance in today's disruptive times.
It helps in accepting a thesis hasn't played out .
As investors we shall be wrong many a number of times .
Listen to opposing viewpoints to Learn something new !
We remember the explicit cost. But it's the Opportunity Cost that matters!
Don't be penny wise,pound foolish.
Mistakes of Commission are capped to 100% but Mistakes of Omission have no ceiling !

Opp cost + Circle of Competence would in conjunction.
Lastly, LUCK plays a major role.

It's often hidden because outstanding success is spotlighted, whilst failures are all around but unseen.

Stay humble always , for there is no self made man !
Keep learning & truly enjoy the Joys of Compounding in all aspects of life!
I would like to thank you @Gautam__Baid from the bottom of my heart for this beauty.

It's treasure worthy & I truly enjoyed even the APPENDIX !!

Rarely have I come across such great Content Curation & Creation in such a simplistic manner.

विद्याधनं सर्व धनं प्रधानम् । 😇🙏

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More from @VidyaG88

29 Aug

* How to #Focus *

Few young adults asked me ways to improve focus.
Sharing what I follow.

To begin with :
* Turn off all gadgets
* Sit in a room & read hard copies of books / newspapers
* Primarily try to focus & absorb the content
* Read aloud if necessary

* First read with an intention of consuming content . Read slowly
* Gradually shift to reflecting upon it
* Then memorising points
* Finally writing takeaways

* Don't use mobile / laptop for reading when developing attention span . Mostly they are counter productive !

* It takes time to develop focus.
Won't happen overnight , especially given the addiction to mobile & social media.
So begin consciously & slowly !

* Gradually increase reading speed & time & retention

* Switch to kindle only when comfortable level of focus is reached
Read 5 tweets
29 May
#LetsTalkMoney by @monikahalan is all about US understanding OUR Needs & Wants, & constructing OUR Money Box.

It helps BUILD a system in place , rather than focusing on a (non existent ) single shot solution.



A 🧵 on it .
Firstly, build your own system to manage Cash Inflows & Outflows .
Find a way that's least troublesome but automatically separates the 2.

#Budgeting & #Allocation must not be a cumbersome task !

Easy bifurcation helps in Better mapping.

A bird's eye view on the same 👇
Moving onto Emergencies . This pandemic has made so many of us realise the importance of it .

Another interesting facet :
Unwillingness to take risks comes from the FEAR of not having money when needed - typically why Bank F.Ds are preferred.

Hence the EMERGENCY fund.
Read 15 tweets
15 May
" Zen and the Art of Happiness "

It's a simple book but it makes you think .

Few of my takeaways ( with random 2 min doodles).
What is Zen ?

#Zen is a Japanese word that is derived from the Sanskrit word Dhyana meaning "Meditation" .
Zen is a journey of exploration & a way of living that , in and of itself doesn't belong to any one religion or tradition as such.

Zen doesn't teach. It merely
points, enabling us to wake up & become aware.

Ever noticed how zen stories rarely have predefined morals? 🤓

The zen of doing anything is doing it with a concentration of mind , a calmness & simplicity of mind, that brings the experience of enlightenment and, through that experience , happiness.

It could be something as mundane as sweeping or peeling potatoes !

Read 22 tweets
23 Apr
#NewAIIMSGuidelines (22.04) for #COVID19India Mangmt

Small but IMPORTANT thread for ALL.
Pls amplify. 🙏

#Plasma #TOCILIZUMAB & #REMDESIVIR are NOW in EUA/Off-label usage under CERTAIN circumstances ONLY !

Pls Understand🙏
Plasma & Remdesivir benefits HAVE NO CONCLUSIVE PROOF ( Tweeted many times on this)


Instead, LEARN #Proning .Recommended by doctors also.

Video shared
Some basic pointers on #COVID19
In non medical language . I have shared my experience & some Do's and Don'ts - HOW TO WEAR MASK , WHICH MASK etc (* again cross verified by doctors)

Pls read this
Read 7 tweets
20 Apr
Some #positivity for the day !! :))

#COVID19 hasn't stopped the Family Trust activities even in 2021.

Financial Assistance in Education of 170 needy students amounting to ₹16lakhs was provided , thanks to donors.🙏

Pending applicants will be helped as need arises. ImageImage
Updates from different Shiksha angans

*Notebooks & Stationeries for students were arranged.
*A Computer with a good table was provided .WiFi will be installed shortly.
*Books , Eatables & Carrom Board given.
*Girls learning Mehendi well.

More events Post #VaccinationDrive. ImageImageImageImage
Guides & Question Banks were distributed to needy students from parts of Wada, Mokhada, Pen ,Raigad etc residing in nearby Govt hostel .

Hundreds of Soap Bars & Masks have been distributed to the underprivileged +taught wearing mask & handwashing PROPERLY.

#HelpingHands ImageImage
Read 4 tweets
14 Apr

The #COVIDSecondWave is real .
Being prepared helps a little.

As someone who is recovering from Covid, sharing some basic points on #COVID19 .

Pls share if useful . 😇🙏

(P.S - I have cross verified with doctors prior to posting this in public domain )

If any symptoms, get tested (RT- PCR) IMMEDIATELY along with ENTIRE family.

DON'T WAIT for 2-3 days.
Labs are already backed up !

Begin wearing masks & Social Distancing EVEN INSIDE Homes.


The SOONER the treatment begins, the BETTER it shall be.

Rapid Antigen Test ( RAT) is a poor substitute for RTPCR.
Preferably, get #RTPCR Test done .

RAT has a high false negative rate.

Patients can be negative initially yet HAVE COVID. Accordingly more tests are advised.

NOTE :EARLY & CORRECT diagnosis is the key .
Read 14 tweets

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