Bezos understood the importance of moving quickly.
Especially as Amazon grew.
To survive as a large company, you have to move at the pace of a startup.
If not, you'll die.
I read every annual letter Jeff Bezos published at Amazon.
It's a masterclass on strategy & leadership.
11 critical insights from a legendary leader:
Bezos understood the importance of moving quickly.
Especially as Amazon grew.
To survive as a large company, you have to move at the pace of a startup.
If not, you'll die.
Some problems require long thought and deliberation.
But many don't.
If a decision is easily reversible, Bezos thought they should be made quickly by "high judgement individuals or small groups."
In the 1998 letter, Bezos remarked that it was Amazon's customers and not competition that should be feared.
He understood that Amazon was providing a service.
Amazon to this day has unmatched service to their customers.
Amazon constantly focused on things that they had input on.
-# of products available
-# of items available for Prime shipping
The focus on the inputs (what Amazon could control) led to the outputs Wall Street looked for.
In the 1st letter on the 1st page, long term mindset is mentioned.
It would remain a theme throughout and something the company stuck to.
Even forgoing profitability to invest back into the company for long term results.
Many companies have shiny new object syndrome.
Amazon isn't different.
But they knew for seeds to grow, it took patience.
Amazon fulfillment center and AWS were both started as seed projects at Amazon.
The 3 questions before making a hiring decision for an employee at Amazon:
-Will you admire this person?
-Will this person raise the average level of effectiveness of the group they’re entering?
-Along what dimension might this person be a superstar?
In the early days, many vendors wondered why Amazon would allow customers to publish negative reviews.
Simply, Amazon knew it would improve the customer experience.
Better products would ultimately end up in the customers hands.
Bezos knew that if he wanted the company to focus on long-term results, ownership mentality was key.
Autonomy is given at Amazon to ensure that employees feel some sense of ownership.
It is the only way to remove the bias of short term results.
May be relevant very soon as fears raise around the risk of recession.
Amazon was able to weather the dot com bubble by building cash reserves.
A tight cash conversion cycle was critical in 2000 & 2001.
Many businesses are great at executing set plans.
But that is not where innovation is sparked.
Ideas are sparked by wanderers.
Amazon aimed to be a see-saw with wandering on one end and efficiency on the other.
You can find them on Google and total there are only about 80 pages.
I'm currently reading Berkshire and that's around 900 pages.
1/ Move Fast
2/ Don't Sweat Reversible Decisions
3/ Stay Terrified of Customers
4/ Focus On Inputs
5/ Long-Term Mindset
6/ Plant Seeds & Wait
7/ Talent Is King
8/ Be Customer Centric
9/ Owner's Mentality
10/ Build A Cash Moat
11/ Wander but Be Efficient
And give me a follow @chrisxmunn if you deem me worthy of blabbering my insights onto your timeline! https://t.co/fVfhozHnBC
I read every annual letter Jeff Bezos published at Amazon.
— Chris Munn (@chrisxmunn) April 19, 2022
It's a masterclass on strategy & leadership.
11 critical insights from a legendary leader: pic.twitter.com/d5Tj1lEuuA
More from All
MASTER THREAD on Short Strangles.
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• Positional Strangles
• Intraday Strangles
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How to sell Strangles in weekly expiry as explained by boss himself. @Mitesh_Engr
• When to sell
• How to do Adjustments
• Exit
Beautiful explanation on positional option selling by @Mitesh_Engr
Sir on how to sell low premium strangles yourself without paying anyone. This is a free mini course in
1st Live example of managing a strangle by Mitesh Sir. @Mitesh_Engr
• Sold Strangles 20% cap used
• Added 20% cap more when in profit
• Booked profitable leg and rolled up
• Kept rolling up profitable leg
• Booked loss in calls
• Sold only
2nd example by @Mitesh_Engr Sir on converting a directional trade into strangles. Option Sellers can use this for consistent profit.
• Identified a reversal and sold puts
• Puts decayed a lot
• When achieved 2% profit through puts then sold
Curated the best tweets from the best traders who are exceptional at managing strangles.
• Positional Strangles
• Intraday Strangles
• Position Sizing
• How to do Adjustments
• Plenty of Examples
• When to avoid
• Exit Criteria
How to sell Strangles in weekly expiry as explained by boss himself. @Mitesh_Engr
• When to sell
• How to do Adjustments
• Exit
1. Let's start option selling learning.
— Mitesh Patel (@Mitesh_Engr) February 10, 2019
Strangle selling. ( I am doing mostly in weekly Bank Nifty)
When to sell? When VIX is below 15
Assume spot is at 27500
Sell 27100 PE & 27900 CE
say premium for both 50-50
If bank nifty will move in narrow range u will get profit from both.
Beautiful explanation on positional option selling by @Mitesh_Engr
Sir on how to sell low premium strangles yourself without paying anyone. This is a free mini course in
Few are selling 20-25 Rs positional option selling course.
— Mitesh Patel (@Mitesh_Engr) November 3, 2019
Nothing big deal in that.
For selling weekly option just identify last week low and high.
Now from that low and high keep 1-1.5% distance from strike.
And sell option on both side.
1/n
1st Live example of managing a strangle by Mitesh Sir. @Mitesh_Engr
• Sold Strangles 20% cap used
• Added 20% cap more when in profit
• Booked profitable leg and rolled up
• Kept rolling up profitable leg
• Booked loss in calls
• Sold only
Sold 29200 put and 30500 call
— Mitesh Patel (@Mitesh_Engr) April 12, 2019
Used 20% capital@44 each
2nd example by @Mitesh_Engr Sir on converting a directional trade into strangles. Option Sellers can use this for consistent profit.
• Identified a reversal and sold puts
• Puts decayed a lot
• When achieved 2% profit through puts then sold
Already giving more than 2% return in a week. Now I will prefer to sell 32500 call at 74 to make it strangle in equal ratio.
— Mitesh Patel (@Mitesh_Engr) February 7, 2020
To all. This is free learning for you. How to play option to make consistent return.
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