The Joys of Compounding is one of the best books I read this year.
It's a must-read for investors.
But also for everyone who wants to benefit from compounding in other aspects of life.
Here are my 7 favorite Learningsπ
It's a must-read for investors.
But also for everyone who wants to benefit from compounding in other aspects of life.
Here are my 7 favorite Learningsπ
1. To finish First, you must first Finish
Everything great in life takes time.
The best investing records are built over decades.
To build a track record over decades, you must survive the worst of times.
Instead of focusing on fast success, focus on longevity.
Everything great in life takes time.
The best investing records are built over decades.
To build a track record over decades, you must survive the worst of times.
Instead of focusing on fast success, focus on longevity.
2. Generalized Specialists
The best investors are "Generalized Specialists."
Generalized specialists have a core competency but keep improving in other areas.
You start with your circle of competence and then constantly expand it.
The best investors are "Generalized Specialists."
Generalized specialists have a core competency but keep improving in other areas.
You start with your circle of competence and then constantly expand it.
3. Compound Habits
Company research, reading, and learning in general, all of these are fun, but also tiring.
To not give up when motivation is low, form habits about every productive thing you do.
Habits are incredibly powerful compounding machines.
Make them work for you!
Company research, reading, and learning in general, all of these are fun, but also tiring.
To not give up when motivation is low, form habits about every productive thing you do.
Habits are incredibly powerful compounding machines.
Make them work for you!
4. The Best Investment
The best investment is never a stock, it's always an investment in yourself.
Nothing will have better returns than working on yourself.
Your knowledge, character, and health.
The best investment is never a stock, it's always an investment in yourself.
Nothing will have better returns than working on yourself.
Your knowledge, character, and health.
5. Between the Lines
Successful investing is all about reading between the lines.
The advantage over other investors comes from your interpretation of things.
Joel Greenblatt called it "context" in his Columbia class.
Find the right context for the information you're given.
Successful investing is all about reading between the lines.
The advantage over other investors comes from your interpretation of things.
Joel Greenblatt called it "context" in his Columbia class.
Find the right context for the information you're given.
6. Additive Mental Models
Mental Models level up your thinking and decision-making.
And they're additive. The more you add, the better they work.
In the best case, they come from multiple fields.
I've written many threads on this topic. Feel free to check them out.
Mental Models level up your thinking and decision-making.
And they're additive. The more you add, the better they work.
In the best case, they come from multiple fields.
I've written many threads on this topic. Feel free to check them out.
7. Microeconomics Dominate
Macroeconomics determine stock prices in the short term.
In the long term, microeconomics dominate.
If a company delivers quarter after quarter, year after year, eventually, the price will follow.
Look for situations where macro depresses prices.
Macroeconomics determine stock prices in the short term.
In the long term, microeconomics dominate.
If a company delivers quarter after quarter, year after year, eventually, the price will follow.
Look for situations where macro depresses prices.
That's it for today!
If you enjoyed it, please Like and Retweet this Thread so more people can see it!
Follow me @MnkeDaniel to learn more about Investing.
Have a great day!
If you enjoyed it, please Like and Retweet this Thread so more people can see it!
Follow me @MnkeDaniel to learn more about Investing.
Have a great day!
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