BC BOOKS

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Brian Feroldi
@BrianFeroldi 4 years ago 1564 views

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I asked, “What book do you re-read the most?”

I received 441 replies

Here are 20 books that should be read again and again:

1/

7 Habits of Highly Effective People

by Steven Covey

2/

A Short History of Nearly Everything

by Bill Bryson

3/

As A Man Thinketh

by James Allen

4/

Atomic Habits

by @JamesClear

5/

Beyond Wealth

by Alexander Green

6/

Can’t Hurt Me

by @davidgoggins

7/

Extreme Ownership

by @jockowillink

8/

From Zero to One

by @peterthiel

9/

How To Win Friends And Influence People

by Dale Carnegie

10/

How Will You Measure Your Life

by Clayton Christiansen

11/

Meditations

by Marcus Aurelius

12/

The Art of Execution

by Lee Freeman-Shor

13/

The Millionaire Next Door

by Thomas Stanley

14/

The Compound Effect

by Darren Hardy

15/

The Four Agreements

by Don Miguel Ruiz

16/

The Goal

by Eliyahu M. Goldratt

17/

The Power of Now

by Eckhart Tolle

18/

The Psychology of Money

by @morganhousel

19/

Thinking, Fast and Slow

by Daniel Kahneman

20/

Think And Grow Rich

by Napoleon Hill

All of these books (and more) can be found on the “book recommendation” tab of my investing checklist

You can download a copy here:

https://t.co/3S3eoymaiZ

Enjoy this thread?

Follow me @brianferoldi

You may also enjoy my YouTube channel

https://t.co/U6cYGKyMLK

Want to see all books that were recommended?

Here’s the full thread:

Happy reading!

https://t.co/zWgNrTOdeK

What book do you re-read the most?
— Brian Feroldi (@BrianFeroldi) June 27, 2021

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Brian Feroldi
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1/ Mission Statements 🧵

I used to think mission statements were just corporate fluff

False words that companies created for HR reasons

I've slowly changed my mind about them

They are THE BEST stakeholder alignment & decision-making tool ever

EVER!

Need convincing? ⬇️⬇️⬇️⬇️

2/ What is a mission statement?

At its core, a mission statement should answer this question:

*****Why does the company exist?*****

A profound question that is easy to overlook!

3/ When used properly

Mission Statements should guide ALL of the actions of the organization

It's like a company's North Star

If an activity doesn’t advance the mission,

it should be discarded!

If an activity does advance the mission,

it should be adopted!

4/ A Mission and a Vision statement are different

Mission: WHY the company exists

Vision: What the company/world looks like if the company is successful

Both important, but they are NOT interchangeable

5/ The reason I used to think mission statements didn't matter

is because the vast majority of companies/CEOs

don't believe they matter!

Most companies SUCK at creating & communicating them!

Why should employees/shareholders care about a mission

if the company/CEO doesn't?

Brian Feroldi
@BrianFeroldi

Accounting is the language of business.

If you buy stocks, you MUST learn how to read a balance sheet.

Here’s everything you need to know:

The balance sheet is one of the 3 major financial statements.

It shows company’s:

▪️Assets: What it owns
▪️Liabilities: What it owes
▪️Shareholders Equity: It's net worth attributable to its owners

At a fixed point in time

That “at a point in time” part is key!

A balance sheet is a SNAPSHOT of a company’s net worth.

It is usually measured at the end of a quarter/year.

That’s different from an income statement or cash flow statement, both of which are measured over periods of time

All balance sheets follow the same formula:

Assets = Liabilities + Shareholders Equity

This formula must be in balance at all times

(Hence the term “balance sheet”)

Side Note:

This formula can be easily re-arranged into the “net worth” formula that you are already familiar with

Assets - Liabilities = Shareholders Equity (Net worth)

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@BrianFeroldi

What are the first metrics that you look at when evaluating a new stock?

Brian Feroldi
@BrianFeroldi

I own 7 stocks that are 15+ baggers (and counting)

Here are 10 traits they all have in common:

The data:

Stock / # of bags / purchase year:

$AMZN / 15+ / 2010
$FB / 15+ / 2012
$GOOG / 15+ / 2009
$MELI / 15+ / 2011
$CMG / 20+ / 2012
$NFLX / 60+ / 2010
$TSLA / 60+ / 2012

1: Founder-led

$AMZN - Bezos
$CMG - Ells
$FB- Zuck
$GOOG - Page
$MELI- Galperin
$NFLX - Hastings
$TSLA - Musk

Founders tend to be:
+Detail oriented
+Innovative
+Mission driven
+Think long-term
+Have skin/soul in the game

Look for founders!

2: Consumer-facing

All of these companies attract millions/billions of consumers

This eliminates customer concentration risk and enables long-term brand building

3: High sales growth

All of these companies were growing revenue 20%+ BEFORE I bought them

Sales growth is the engine that drives profit growth

Profit growth is the engine that drives stock appreciation

Find companies that can grow sales 20%+ for decades

$Brian Feroldi (\U0001f9e0,\U0001f4c8)$

Brian Feroldi (🧠,📈)...
@BrianFeroldi

Over 51,000,000 YouTube channels exist.

99.8% of them are a waste of time.

Here are 10 channels that are GUARANTEED to entertain you AND make you smarter🧠:

1/ @theatlaspro

I had no idea that geography, geology, biology, and ecology could be so

2/ @TheCrashCourse

10 minutes lessons on any almost subject that you can think

3/ @MarkRober

Former NASA engineer teaches science lessons through videos that will entertain the whole

4/ @thephysicsgirl

Short videos that explain physics in a fun and easy-to-understand

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@Dinesh_Sairam

1/ There are a ton of books about Financial & Fundamental Analysis, Scuttlebutt and Technical Analysis. But there aren't many books 'taking risk'.

Among the few that exist, 'Zurich Axioms', written in 1985, is the best. Here are my key takeaways from the book.

2/ A bit about Max Gunther's (The Author) background. He was an Anglo-American journalist and writer, who wrote 26 Books.

His father, Franz Heinrich, was the New York Head of Schweizerischer Bankverein, which later merged into the famous Union Bank of Switzerland (UBS).

3/ The 'Zurich Axioms' were a set of unwritten rules followed by a informal group of Swiss Bankers and Traders who used to socialize around Wall Street after World War II. Mr. Heinrich was one of the founding members.

Max Gunter formalied these 'Axioms' by writing about them.

4/ There are 12 'Major Axioms' and 16 'Minor Axioms' (Corollary to the Major Axioms) in the book.

But remember, this is MY key takeaways from the book and not an exact summary. So you might find quotes, phrases and links inserted here and there by me (Not from the Author).

5/ Axiom #1: In order to earn returns, you must take risk. Risk will make you worry.

Risk-taking and worrying go hand-in-hand. If you're not worried about an investment, you're not taking risk.

Spend half your energy towards earning an income and the rest towards speculation.

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10 Incredible Lessons From the Book “Zero to One”

⚡️Book Review⚡️

1. Focus on One Thing

👉 The truly successful ones will put all of their effort behind one unique idea or business plan and throw all of their weight behind that effort.

2. The 80/20 Rule

80% of your profits or yield will be produced by 20% of your customers or products.

👉This fact is also true for most of the other topics.

3. Invest Early

Maximizing retirement savings should be a key interest to any successful entrepreneur.

👉It will lead to greater dividends as you age and will generate wealth much more quickly than you might think.

4. Ignore the Common Wisdom

To be successful, to truly create a 1 from 0, you’ll need to:

👉 think for yourself and come up with a new product or solution that people don’t already know that they need.

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Peter Lynch averaged 29.2% annual return between 1977 to 1990.

His books One Up Wall Street and Beating the Street offered great insights into his success.

Here are my top 10 lessons from the legend:

1. This quote was so good Warren Buffett cited it in his shareholder letter.

“Selling your winners and holding your losers is like cutting the flowers and watering the weeds.”

2. Volatility is the price of admission.

“People who succeed in the stock market also accept periodic losses, setbacks, and unexpected occurrences. Calamitous drops do not scare them out of the game.”

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Marathon Asset produced several iconic investors such as Nick Sleep and Jeremy Hosking.

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Here are my main takeaways:

1/ Periods of high profitability leads to reckless investments.

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-Boost CAPEX with little regard for ROIC
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-CEO's incentives aren't aligned with shareholders

It's a race to the bottom.

2/ The capital cycle will swing down when investments are taken too far.

Forecasts that were reasonable will now look overly optimistic.

Profits collapse, management teams are changed, CAPEX is cut, and consolidation begins.

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3/ Asset growth matters

Consider both asset growth at the company and industry level.

Avoid industries where assets are growing rapidly.

4/ We tend to extrapolate

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We have a tendency to forecast linearly when many things are cyclical.

Examples: trade cycles, credit cycles, etc

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Naval Ravikant

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Impactful quote:

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Impactful quote:

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The hilarious autobiography of one of the 20th century's most intelligent and interesting men.

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Sharing one incident... After Modi's Trichy youth conference, the very next morning when police were clearing up their mini-control room, they found 5 strange boys who were roaming there with bags. When police enquired them "Sir, we are from Subramaniapuram in Trichy.

Whatever political meeting or conference is held in this ground, we come here on the same night or morning hours to collect the Liquor bottles to sell in the scrap shop for 50 paisa to 1 rupee per bottle and we used to earn Rs 200 to Rs 400 on each such event.

Even in the last DMK meeting the very next day we collected around 1500 bottles. But for Modi's BJP meeting, we could not find even a single bottle in the whole ground. We are coming around and around and not a single bottle in any corner of the G Corner ground in Trichy,

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Trending news of The Rock's daughter Simone Johnson's announcing her new Stage Name is breaking our Versus tool because "Wrestling Name" isn't in our database!

Here's the most useful #Factualist comparison pages #Thread 🧵

What is the difference between “pseudonym” and “stage name?”

Pseudonym means “a fictitious name (more literally, a false name), as those used by writers and movie stars,” while stage name is “the pseudonym of an entertainer.”

https://t.co/hT5XPkTepy #english #wiki #wikidiff

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Alias #versus Stage Name: What’s the difference?

Alias means “another name; an assumed name,” while stage name means “the pseudonym of an entertainer.”

https://t.co/Kf7uVKekMd #Etymology #words

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What is the difference between “alias” and “pseudonym?”

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Jaya_Upadhyaya
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DEVI KARUMARIAMMAN, THIRUVERKADU (TN)

Devi is worshipped here as both Swayambhu (self-manifested) and as Parashakti (with 4 arms holding skull,sword,trishul,udukkai/damru).

Here, Muruga got Vel from Devi to fight Suran. So the place was called Vel kadu which became Verkadu.

It is said that there was an anthill here long ago. Devi appeared in the dream of a devotee and asked him to build a shrine at that spot. When the anthill was removed, the swayambhu murti of Devi emerged. So Devi is called Karuvil Illadha Karumari ( not in the womb of mother).

Once, Devi went to Surya in the form of an old woman but Surya neglected her. Devi’s anger made Surya lose his brightness.
To appease her, Surya said that His rays would fall on Her directly twice in a year and touch her feet. Also, Sunday is celebrated as day of Devi Karumari.

There is also a wooden image of Devi (Marachilai Amman) here. Devotees offer locks to her in the belief that She would safe guard their houses.
Temple tank (Thiruchamber Poigai) is said to have been created by Subramanya. Taking dip in it is said to cure skin related disorders.

Respectable Lawyer
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There's been a lot of talk about the missionary killed by the natives of North Sentinel Island. They're probably so aggressive because of this weirdo, Maurice Vidal Portman. So here's a big thread about this creep and some facts from my decade-long obsession with the island.

The Sentinelese are often described as “uncontacted,” but this not strictly true. They had a very significant contact in 1880 with Commander Portman.

Portman, the black sheep third son of some minor noble, was assigned by the English Royal Navy to administer and pacify the Andaman Islands, a job he pursued from 1880-1900 with the full measure of his own perversity.

Portman was erotically obsessed with the Andamanese, and he indulged his passion for photography by kidnapping members of various tribes and posing them in mock-Greek homoerotic compositions.

During his 20 years in a sexualized heart of darkness, Portman measured and cataloged every inch of his prisoner’s bodies, with an obsessive focus on genitals.

WORLD OF SANATAN DHARM...
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LESSER KNOWN DETAILS ABOUT THE BATTLE OF PRATAPGAD - THIS YOU ALL SHOULD READ

In the 1659 Adilshah sent Afzalkhan with the army of 75000 soldiers to destroy Chhatrapati Shivaji Maharaj with his empire. He was the main soldier, warrior and minister in Adilshahi Sultanate.

He was the Subhedar of Wai province.

He was very powerful physically. His height was 7.3 ft. due to same he was very popular as a strong man from Adilshahi Sultanate.

Whole India was not daring to fight with Adilshahi due to Afzal Khan.

Badi Begum Sahiba sent him to kill Chhatrapati Shivaji on any cost.

Voluntary he decided to destroy Chhatrapati Shivaji’s empire with him. He started his operation against Chhatrapati Shivaji from "wai". He destroyed many temples like as Tulja Bhavani Temple.

He destroyed so many villages, killed villagers to torture Chhatrapati Shivaji.

DETAILED VIEW- Running commentary

1. Chhatrapati Shivaji chose Pantaji as a lawyer to communicate with Afzal Khan. Pantaji was very sharp minded, who did his job very nicely.

2. He presented Chhatrapati Shivaji is fearing Afzal Khan and he wanted to invite him in his kingdom near Pratapgad.

3. Pantaji succeed in the communication with Afzal Khan and he brought him as per the planning of Chhatrapati Shivaji.