BC BOOKS
Saved by @tradrdoc

20 Timeless Financial Lessons from the book:

"THE PSYCHOLOGY OF MONEY"

– Thread –

 1. Our current relationships with money are based on our past experiences & We should avoid living in that illusion.

2. One can be wealthy without superior intelligence of financial education. You just need right behavioral skills.
3. Both luck & risk are an integral part of finance.

You can make good decisions that lead to poor financial outcomes vice-versa.

4. Saying “enough” is realizing that an appetite for more will push you to the point of regret.
5. Financial success is less of a science & more of a soft skill.

6. Buying impressive items to gain admiration & respect from others is a fool’s pursuit~ These things can not be bought.
7. Don’t move your goalpost to suit your current needs.

Once you have more money & power. It's easy to get lost in ambition so stick to your goal.

8. There are certain things which are never worth taking a risk like Character, Family, Friends & Freedom, Happiness.
9. Good investing is about getting decent enough returns over decades.

That's when compounding turns wild.

10. Earning good money & keeping that money are two different areas of expertise.

Most people fail in one or the two skills.
11. Tails drive everything in life & especially in finance.

No one makes good decisions all the time.

You should always leave room for error when estimating your future returns.
12. Everything in life has a price.

You should market volatility as a fee rather than a fine.

If you can do this, you are more likely to stay in the game long enough for investment gains to work for you.
13. Doing something you love on a schedule you don't want is equivalent to doing something you hate.

14. Rich is the current income. Wealth is income not spent. Wealth is hard because it requires self-control.
15. World is full of people who look wealthy but are actually broke. Don’t imitate them.

16. The highest form of wealth is the ability to wake up every morning and say, ‘I can do whatever I want today.
17. Risk Comes from unknown.

There will always be unprecedented events, for which we will never be prepared, and therefore, will have a massive impact on how the world operates.
18. No one is impressed with your possessions as much as you are.

Humility, kindness & empathy will bring you more respect than horsepower ever will.

19. Having more control over your time & options is one of the most valuable currencies in the world.
20. Finance has a gift for bringing out the pessimist in everyone.

Pessimists often extrapolate present trends without accounting for how markets adapt.

True financial optimism is expecting things to be bad & being surprised when they’re not.
To sum up~ What's important is to understand the difference between being rich & being wealthy.

People who are rich often make risky decisions based on historical data.

People who are wealthy realize that protecting their money by avoiding mistakes is the key to success.

More from Gurleen

Gurleen
Gurleen
@GurleenKaur_19
#COPPER
The setup is bullish till Point D [795]; Post that a reversal might be in place.

Invalidation level: Point B [741.85]

#Commodities
COPPER
Gurleen
Gurleen
@GurleenKaur_19
#LAURUSLABS Multiple TF Analysis
A break-through at ATH.

Sustenance above 698 and a breakout at 705.85 would bring in higher targets of 733 followed by 800 in short term.

#StockMarket #StocksToWatch
LAURUSLABS
Advertisement
Gurleen
Gurleen
@GurleenKaur_19
#Asianpaints
Price seems to be at a neutral level. A follow up action here backed by good volume can be a turn around.

A breakdown at the major support zone of 2735.60~2882.50 would mark the journey on the southside.
ASIANPAINTS
Gurleen
Gurleen
@GurleenKaur_19
#ULTRACEM Updated chart

Seems like another retest along with a follow through move. Even the support at 6100 has been taken out.

In swing support placed at 5590 followed by 4960.

#StockMarket #StocksToWatch https://t.co/bekQfLgWEK
ULTRATECHLONGTERM
Gurleen
Gurleen
@GurleenKaur_19
#RELIANCE

The failure of the price to move past the previous high resulted in a fall back towards the lower band.

The structure looks weak and might hit 2370 initially which coincides with the channel bottom.

Thereafter, if the pivot gets taken out, Might hit Point D.
RELIANCELONGTERM

More from Books

Buzzingstock Publishing House
Buzzingstock Publishin...
@BuzzingstockH
@lalitinvestor Reason for this is lack of #Financial Literacy.

Hence we tell all retail investors, especially new ones to read some of these books and learn basics before investing or trading in #Stocks.

📚 available on https://t.co/zskR7qBBX5
BOOKS
Written Notes
Written Notes
@1WrittenNotes
15 Powerful Visuals About Psychology & Life

1.


2.


3.


4.


5.
BOOKS
Advertisement
Book Quotes
Book Quotes
@Strong_Mindd
8 Powerful Quotes From The Book "Letters from a Stoic" by Seneca

Thread


1. "If you live in harmony with nature you will never be poor; if you live according what others think, you will never be rich."

2. "Enjoy present pleasures in such a way as not to injure future ones."

3. "It is not the man who has too little that is poor, but the one who hankers after more."

4. "Associate with those who will make a better man of you."
BOOKS
Book Quotes
Book Quotes
@Strong_Mindd
15 Must Read Books That Will Change Your Life :

1. Atomic Habits


2. Deep Work


3. The Power Of Habit


4. The Psychology Of Money


5. Mindset
BOOKS
Shiromani Kant \u26a1
Shiromani Kant ⚡
@readerpreneur
15 quotes to hit your ego from the book EGO IS THE ENEMY:


1. Wherever you are, whatever you’re doing, your worst enemy already lives inside you; your ego.

2. The ego we see most commonly goes by a more casual definition: an unhealthy belief in our own importance. Arrogance. Self-centered ambition.

3. Ego is when the notion of ourselves and the world grows so inflated that it begins to distort the reality that surrounds us.

4. We will learn that though we think big, we must act and live small in order to accomplish what we seek.
BOOKS

You May Also Like

Patrick McKenzie
Patrick McKenzie
@patio11
Most software founders, particularly in B2B, need to get radically better at sales. @Steli , who is the best person for explaining the scrappy stages in the beginning and then building out a team with scripts and processes, wrote a guide to:

For technical founders it is irrationally, obscenely hard to reverse years of programming (ba dum bum) that sales is a value-destroying activity. Sales is CLEARLY a value-creating activity, contingent on you have a value-creating product.

The world will not drop what they are doing to adopt your work. This is particularly true in B2B, where simply building a better mousetrap won't overcome the activation energy required to get people with additional non-mice problems to prioritize changing mousetraps today.

This is very non-obvious for founders because founders are not often people who *want* to be sold to. We often come from a background where trying out tools is a bit of a fun hobby. We like looking at all the options, making charts, and ripping out partially complete tests.

"This week I unsuccessfully trialed four software options for automating that thing that has been killing us. Our actual production process remains the same as last week. Don't worry; this was a great use of time." is not a thing you want to write in a progress report to manager.
TECH
Pat Walls
Pat Walls
@thepatwalls
And here they are...

THE WINNERS OF THE 24 HOUR STARTUP CHALLENGE

Remember, this money is just fun. If you launched a product (or even attempted a launch) - you did something worth MUCH more than $1,000.

#24hrstartup

The winners 👇

#10

Lattes For Change - Skip a latte and save a life.

https://t.co/M75RAirZzs

@frantzfries built a platform where you can see how skipping your morning latte could do for the world.

A great product for a great cause.

Congrats Chris on winning $250!


#9

Instaland - Create amazing landing pages for your followers.

https://t.co/5KkveJTAsy

A team project! @bpmct and @BaileyPumfleet built a tool for social media influencers to create simple "swipe up" landing pages for followers.

Really impressive for 24 hours. Congrats!


#8

SayHenlo - Chat without distractions

https://t.co/og0B7gmkW6

Built by @DaltonEdwards, it's a platform for combatting conversation overload. This product was also coded exclusively from an iPad 😲

Dalton is a beast. I'm so excited he placed in the top 10.


#7

CoderStory - Learn to code from developers across the globe!

https://t.co/86Ay6nF4AY

Built by @jesswallaceuk, the project is focused on highlighting the experience of developers and people learning to code.

I wish this existed when I learned to code! Congrats on $250!!
MAKERS
Advertisement
Eric
Eric
@ericbahn
1/ Recently, I learned about the concept of ‘struggle porn’. This refers to the fetish of sacrificing nearly everything (health, relationships, time) for your startup. I fear that this label is creating more harm than good.

2/ @nateliason wrote a fabulous article about this topic, which first introduced me to this concept. Everyone should read it:

3/ @alexisohanian also recently spoke about struggle porn, though referring to it as ‘hustle porn.’ (as the co-founder of @hustlefundvc, obviously I take issue with this pejorative definition of ‘hustle’, but that’s another topic)

4/ Struggling in itself isn’t necessarily bad. Let’s be real here--if you’re going to start a startup, you will struggle. Founders should expect to work harder generally than employees. You will be challenged in many ways and also be super rewarded in others. This is normal.

5/ However, if you are over-indexing on hard work without clear purpose and degrading your mental health/relationships in the process--then this is very bad and we obviously should not celebrate this behavior.
STARTUPS
Simon Wardley #EEA
Simon Wardley #EEA
@swardley
X : Our executive team is concerned that we need to up our game in order to out innovate Amazon.
Me : Do you map?
X : Yes
Me : Like this?
X : No. What's that?
Me : A map of a tea shop.


X : Why is that a map?
Me : Long story, all to do with how space has meaning. To keep it short, maps help people to focus on user needs, the components involved, to communicate missing components and scenario play ideas like staff becoming robots.


Me : They’re also good for measuring and managing capital flow, making investment decisions, removing bias and getting rid of duplication.
X : I don’t see how that helps with innovation?


Me : Well, innovation is a tricky word because we use it to describe many things. If you’re talking about differentiation with the adjacent unexplored then you’re experimenting in the “uncharted” space e.g. immortality with magic provided by the special custom built kettle.


X : That sounds like nonsense.
Me : A lot of what people think will be the next great innovation is nonsense. Actually, most of it is. That’s the nature of the uncharted space, it’s experimental, high risk and generally results in failure.
X : We need more reliable innovation.
TECH
Erik Torenberg
Erik Torenberg
@eriktorenberg
1/ Someone emailed me asking how to break into VC, so I wanted to answer on Twitter where others could see and contribute to the conversation.

2/ “Being a VC” can mean a lot of different things, so it’s worth asking:

What actual activities do you want to do?

- Deep market analysis?
- Be in the flow of information and people?
- Make deals?
- Work closely w/ founders over time (e.g take board seats?)
- Manage capital?

3/ It’s worth specifying what type of VC you might like to become — as there are different archetypes. E.g.

- Benchmark (Lead series A/B - couple investments a year)
- First Round (Lead seed rounds, partner w/ a few companies a year)
- SV Angel (Make lots of seed investments)

4/ Continued:

Expa - Incubate companies

YC / Village Global - Build a platform to help entrepreneurs at scale

Do you want to join a firm or start one? There’s a lot to consider.

Different paths will require different skillsets & sets of experiences.

5/ Since the person who wrote the email is a young person trying to break into VC by joining a firm (and who doesn’t want to start a company), I’ll tailor this tweet storm to that goal. There’s some overlap.
STARTUPS