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

Their letters from 2002 to 2015 provided a treasure trove of insights into their investment frameworks and how they look at the capital cycle.

Here are my main takeaways:

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.”

3. On how many stocks you should own.

"Owning stocks is like having children. Don't get involved with more than you can handle."

4. On making mistakes.

"There's no shame in losing money on a stock. Everybody does it. What is shameful is to hold on to a stock, or worse, to buy more of it when the fundamentals are deteriorating."

At 98, Munger is as sharp as ever.

His recent 2-hour sharing at $DJCO was 🔥

Talked about $BABA, $COST, $ATVI, crypto, interest rates, envy, antitrust, the great resignation, growth vs value investing and MORE.

Here are my notes:

1. Let's get the white elephant out of the room and talk:

$BABA

Why invest in China? And why Alibaba?

To find out more about $BABA without going through 10 years of annual report, check out my deep-dive here.

More than 20,000 people have viewed it in 7

2. It's no secret that Munger has a contempt for crypto

While there are legitimate use cases (IMO), Munger hates the negative spillover it brings.

3. On whether there'll be a major interest rate increase

Japan managed to maintain low interest rates and reduce their debt without compromising their living standards.

But we're not sure if the U.S. can pull off the same trick.

Here's why:

Youtube provides us access to the top investors worldwide.

But 98.8% don't use it to its full potential.

Five videos that provide the best investing insights:

What you learn: Fundsmith investing philosophies and company's thesis.

From: Terry Smith, founder of

What you learn: Characteristics of compounders & understanding your competitive edge

From: @yliownyc and @tseides

What you learn: How to research a stock from scratch

From: @BrianFeroldi and @Brian_Stoffel_

What you learn: What makes internet stocks attractive?

From: @DennisHong17 and @goodinvestingc

@CoachGossett13 @chambershoops @TJ_NoZer0Days Hope you enjoy it 📚

Raise Your Game: High-Performance Secrets from the Best of the Best 🏆

10 books that taught me more about life + death than I learned in 6 years of medical school:

#1: Dear Life by @doctor_oxford:

#2: The diving bell and the butterfly by Jean-Dominique Bauby:

#3: This is going to hurt by @amateuradam:

@amateuradam #4: When breath becomes air by Paul Kalanithi:

10 Life-Changing Lessons “The Art of War” by Sun Tzu

⚡️Book Thread⚡️

1. “Let your plans be dark and impenetrable as night, and When you move, fall like a thunderbolt.”

We should devote a significant amount of time to planning.

But remember, without solid action, a plan is just a plan, and nothing more.

2. "There are not more than five primary colors, yet in combination, they produce more hues than can ever be seen.”

It’s not about the number of tools you have, it’s about how you use them.

3. “If he sends reinforcements everywhere, he will everywhere be weak.”

Focus is important in order to succeed.

Concentrate on key areas of improvement, and don’t try to be everything and anything at once.

4. “There is no instance of a nation benefiting from prolonged warfare.”

We shouldn't wait forever to tackle our problems

We should make progress toward our goals as soon as possible

15 Powerful Visuals About Psychology & Life

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1/22
I first read this book in 2009 after losing 80% of my monies on Penny stocks as a student when the 2008 drawdown happened.

Thought it was too simple !

Now in 2021, I think this is one of the best books to absorb & implement.

A 🧵

#BookTwitter
#BookRecommendations

2/22
Investing means different things to different people - Be it health/ career/external assets with an intent to reap benefits in future.

So then is everyone an Investor ?
No.
When people do different things with even same investment products we give it a different name.
👇

3/22
Investing is a PERSONAL Plan .
It's NOT a product . NOT a procedure.

One needs to have a clear picture of one's financials BEFORE making an investment plan.

Investment products comprise of items with distinct characteristics DESIGNED to satisfy a particular need.
👇

4/22
Nothing is permanent except CHANGE.
Same applies for market cycles.
Different Asset Classes help us in that.

By smart movement one can increase the velocity of one's money.

It is NOT about timing the markets.
It's ABOUT the trends in an asset class.

Few pointers
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5/22
Many folks acquire Speculative habits mistakenly thinking they are Investing. ☠️

L.T Investing is central for optimum returns.
Markets will be volatile.
But in long run shall only go ⬆️

Some notes on Cash Flow & Capital Gains Model , Speculation & Law of The Farm
👇