1/ Thread: Value of fintwit
Since we are seeing some exodus (temporary or permanent) from fintwit, I want to share how I perceive the value of fintwit to me and perhaps many of you.
Before I get into that, some brief reminders on life before fintwit (or social media).
Since we are seeing some exodus (temporary or permanent) from fintwit, I want to share how I perceive the value of fintwit to me and perhaps many of you.
Before I get into that, some brief reminders on life before fintwit (or social media).
2/ What has always stunned me about Buffett and Munger is their ability to stay in the great game of investing.
How do you play such an intensely competitive form of endeavor for decade after decade? Why did they enjoy longevity?
How do you play such an intensely competitive form of endeavor for decade after decade? Why did they enjoy longevity?
3/ There are certainly more than one reasons. One of my thesis is they both enjoyed longevity in this great game of investing because of each other.
It was just easier to show up. It was easier not to get bored. It was easier to forget how much you love this game.
It was just easier to show up. It was easier not to get bored. It was easier to forget how much you love this game.
4/ But when did they meet? In 1959.
Buffett was 29 and Munger was 35 years old.
What is the probability "Buffett" would find "Munger" in those formative years in Omaha, Nebraska in '50s-'60s? Low, very low.
Buffett was 29 and Munger was 35 years old.
What is the probability "Buffett" would find "Munger" in those formative years in Omaha, Nebraska in '50s-'60s? Low, very low.
5/ Buffett and Munger had to be incredibly lucky to find each other. It is clear as day how much they enjoy each other's company.
They each may still be super wealthy without meeting the other, but their lives would be far less fun, and who knows they might stop showing up.
They each may still be super wealthy without meeting the other, but their lives would be far less fun, and who knows they might stop showing up.
6/ Today, each of us has much, much higher probability of meeting our "Buffett or "Munger" when the whole fintwit is built on top of our interest graph.
It's easy to underappreciate this super power if you are surrounded by investing geniuses in real life.
It's easy to underappreciate this super power if you are surrounded by investing geniuses in real life.
7/ But the vast majority of us is NOT surrounded by investing geniuses.
Not a single person in my entire family is remotely interested in investing. *Almost* nobody in my social circle is interested in investing.
It's been lonely journey before I found fintwit.
Not a single person in my entire family is remotely interested in investing. *Almost* nobody in my social circle is interested in investing.
It's been lonely journey before I found fintwit.
8/ I have met and talked to people from fintwit with whom I could literally talk for days without allowing silence to encroach in our conversation.
I did feel like a kid in a candy store at times.
I did feel like a kid in a candy store at times.
9/ And because these relationships are based on our content and interest, there is a sense of mutual respect even if the person on the other side is legitimately 10x better than you are.
It's a special feeling and hard to create in real world as quickly as you can online.
It's a special feeling and hard to create in real world as quickly as you can online.
10/ Fintwit is a BIG community. Just like any community, you'll find people you like, admire, hate, and be indifferent to.
Of course, we can all feel jaded at times, just as we do in real life. It's normal and a break may be warranted at times.
Of course, we can all feel jaded at times, just as we do in real life. It's normal and a break may be warranted at times.
End/ But let's not miss the forest for the trees.
Just it was the recipe for longevity for Buffett and Munger, the most important thing is to keep showing up. Most things usually work out pretty well if you just show up.
Enjoy your weekend, fintwit! ❤️
Just it was the recipe for longevity for Buffett and Munger, the most important thing is to keep showing up. Most things usually work out pretty well if you just show up.
Enjoy your weekend, fintwit! ❤️
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