"A Decade Watching the Craziest Game"
"The only thing we have to fear is fear itself — nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance." - Franklin D. Roosevelt
I wrote my entire master's thesis at a coffee shop 5 minutes away from my place while at university. For some reason, I found deep, effortless focus there.
So every once in a while I go back with my laptop or a book, grab a latte or two, and just read. I usually come across a gem of an article or an idea.
Here's one I came across about investing that takes 5 minutes to read, but leaves its readers with more than a lifetime's worth of investing books. It's a summary of lessons learned, and is fittingly called "A Decade Watching the Craziest Game".
Although it was extremely hard to pick, I'll highlight the ones that resonated the most with me.
- "I’ve learned that every investor should go to investment conferences, if only to meet 400 other people who look like you, think like you, speak like you, work like you, went to the same as school you, and look at the same data as you, all of whom claim to have an edge over everyone else in the room."
"I’ve learned that cash earns the lowest return but offers the most options, and options can provide the highest long-term returns."
- "I’ve learned that the numbers of words is negatively correlated with the amount of insight."