BC INVESTING
Saved by @sachm0

Worried about the recent market drop?

Here are 24 top investing quotes from Buffett, Bogle, Graham, and more that can help🧵

 "If you have trouble imagining a 20% loss in the stock market, you shouldn’t be in stocks."

-- John Bogle
"Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble."

-- Warren Buffett
“Individuals who cannot master their emotions are ill-suited to profit from the investment process”

-- Benjamin Graham
"A calm sea does not produce a skilled sailor."

-- Tom Culve
"You get recessions, you have stock market declines. If you don't understand that's going to happen, then you're not ready, you won't do well in the markets."

-- Peter Lynch
"Risk comes from not knowing what you are doing."

-- Warren Buffett
"Checking your stocks daily is like putting up a webcam in the forest to see if the trees are growing."

-- @privatportfolj
"Success is a lousy teacher. It seduces smart people into thinking they can't lose."

-- Bill Gates
"The investor's chief problem -- and even his worst enemy -- is likely to be himself."

-- Benjamin Graham
“inactivity strikes us as intelligent behavior.”

-- Warren Buffett
"The most important quality for an investor is temperament, not intellect."

-- Warren Buffett
"Patience is bitter, but its fruit is sweet."

-- Jean-Jacques Rosseau
"Patience is necessary, and one cannot reap immediately where one has sown."

--Soren Kierkegaard
"In the business world, the rearview mirror is always clearer than the windshield."

-- Warren Buffett
"People are trying to be smart - all I am trying to do is not be idiotic, but it's harder than most people think."

-- Charlie Munger
"The true investor welcomes volatility."

-- Warren Buffett
"All there is to investing is picking good stocks at good times and staying with them as long as they remain good companies."

-- Warren Buffett
"It won't be the economy that will do in investors; it will be the investors themselves. "

-- Warren Buffett
"Uncertainty is actually the friend of the buyer of long-term value."

-- Warren Buffett
"If Old Faithful turns into a super volcano, blows its top, all stocks will fall to record lows. If that happens, I will dig myself out of the foot of volcanic ash, set up my Internet and buy stocks."

-- Tom Engle
"In dieting and in stocks, it is the gut and not the head that determines the results."

-- Peter Lynch
"Compounding is hard because a bad month can feel longer than a good decade."

-- @morganhousel
"Now is always the hardest time to invest."

-- Bernard Baruch
"Everybody has a plan until they get punched in the face."

-- @MikeTyson

Enjoy your weekend

More from Brian Feroldi

Brian Feroldi
Brian Feroldi
@BrianFeroldi
My 🔟 Biggest Investing Mistakes 🧵

1⃣Only looking at the share price

I bought penny stocks at the start

My logic: 100 shares of $1 stock > 1 share of $100 stock

WRONG!

The price of 1 share is meaningless!

What matters is how great the company is!

2⃣Only looking at dividend yield

I bought stocks with 10%+ yields

My logic: 10% yield > 1% yield

WRONG!

The dividend got cut and the share price dropped -- a double-whammy!

A high yield is Wall Street's way of saying "this yield is not sustainable, watch out"


3⃣Selling a great stock early

I bought $DXCM in 2007 for ~$6

I sold it 1 month later after a 15% gain

Current price: $412.58

I was in a rush to take profits, so I missed out on HUGE upside

If the opportunity is huge, hold!


4⃣Not buying a great stock due to valuation

I've made this mistake over and over again

I didn't buy $ZM at $80 because the valuation was "insane"

Current price: $455

If you like everything about the company except the valuation, but some

Even if it's just a little bit
TRADING
Brian Feroldi
Brian Feroldi
@BrianFeroldi
I asked, “What company is worth less than $10 billion today but you think could be worth $500+ billion in a few decades?”

I received 710 answers

Here are 20 top stocks that have 50x+ potential:

1: Alteryx - $AYX

Market cap: $5.1 billion

What it does: Big data analytics

2: Boston Omaha - $BOMN

Market Cap: $900 million

What it does: Berkshire Hathaway 2.0

3: Beyond Meat - $BYND

Market Cap: $7.9 billion

What it does: Plant-based meat

4: Desktop Metals - $DM

Market Cap: $2.3 billion

What it does: 3D Printing
IDEAS
Advertisement
Brian Feroldi
Brian Feroldi
@BrianFeroldi
My inflation strategy:

Own businesses with recession-proof demand and pricing power
MACRO
Brian Feroldi
Brian Feroldi
@BrianFeroldi
Everyone knows Apple, Amazon, Microsoft...

But how do you find the next $AFRM, $PLTR, or $USPT early?

Here are 9 GREAT resources for finding stock ideas (8 of them are FREE):

1: ETFs

Look through the holdings of high-growth ETFs

Google the ETF symbol and “holdings”

These are worth cracking open:
▪️ $ARKF / $ARKG / $ARKK / $ARKW
▪️ $FFTY
▪️ $HACK
▪️ $IZRL
▪️ $TMFC

2: Fund Managers

Type a fund you respect into @Whalewisdom

You can see all their holding and get emails of any changes

These funds are worth tracking:
▪️AKre Capital
▪️AKO Capital
▪️Dorsey Asset
▪️Fundsmith
▪️Polen Capital

More


3: Newly Public Companies

▪️Direct Listings
▪️IPOs
▪️SPACs

Are a great idea source

Helpful resources:
▪️ https://t.co/jJW01WpJQh
▪️

4. Screeners

@Finviz is great for screening by sector/industry

@Stockcard is great for screening by themes (like the mega-trends listed below)
WATCHLIST
Brian Feroldi
Brian Feroldi
@BrianFeroldi
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
BOOKS , ALL , READINGS

More from Investing

Sahil Bloom
Sahil Bloom
@SahilBloom
Dollar Cost Averaging 101

Many of the brightest minds in the investing world share one common trait: they recommend dollar cost averaging as an investment strategy.

But what is dollar cost averaging and how does it work?

Here's Dollar Cost Averaging 101!

👇👇👇


1/ Dollar cost averaging, or "DCA" for short, is a simple investment strategy in which an investor splits the total amount to be invested in a given asset across regular periodic purchases.

The regular purchases occur regardless of price, volatility, or economic conditions.

2/ The goal is to remove the complexities of market timing from the process, allowing an investor to build their desired position without concern for external factors.

Its simplicity removes behavioral and psychological biases from the equation.

Let's look at an example.

3/ Imagine you want to build a $10,000 position in bitcoin. You have done your research and believe in the long-term story.

You aren't sure if it will go up or down in the near-term, so you decide to dollar-cost average.

Great decision! How will you do it?


4/ You split the $10,000 up into 20 pieces ($500 each). You could have done any number of pieces, but 20 felt right.

You decide on a weekly DCA, so every Monday, you buy $500 of $BTC, regardless of price. After 20 weeks, you have built your desired $10,000 cost basis position.
INVESTING
Ram Bhupatiraju
Ram Bhupatiraju
@RamBhupatiraju
My biggest mistakes in the last decade & what I learned.

There are 2 types of Investors in the Market. Those who make mistakes & admit them openly while learning, and those who give the illusion that they never make mistakes. I want to be firmly in the former camp.

Here we go⬇️


Putting those mistakes/examples/lessons down again in the thread below for easy reading.

Note that the lessons learned are very subjective. They are not recommendations. It depends on each person's Portfolio goals & strategies.

OK let's go. ⬇️⬇️

1⃣ Mistake : Actions not aligning to goals & competencies.

Ex : Mainly during 2010-14 - Dabbling in cheap (low quality) stocks & Options (LEAPS, but w/o clearly identified catalysts)

Lesson : Make sure your process and actions are leveraging your interests/strengths and aligned to your Portfolio goals. For me, that was leveraging my patience and interest in quality Cos. Monitor & improve the process over time.

2⃣ Mistake :Confusing between Quality/Durability and Temporary Business momentum or ST stock momentum.

Ex : Buying GILD/SAM in 2016, PTON/FVRR etc in early 2021.
INVESTING
Advertisement
Dan Rose
Dan Rose
@drose007
In 2009, an unknown investor from Russia came out of nowhere to make one of the greatest late stage venture bets in the history of Silicon Valley. Why did FB choose an outsider to lead our Series D round? Here’s the inside story:

2 years earlier we famously raised from Microsoft at $15B valuation. That turned out to be a mistake because it set us up for a painful down round. By 2009 growth had slowed and the financial crisis crushed advertising. “Smart money” bids for our Series D were coming in at $3-6B.

We had a high bid at $8B from a respected valley firm, and we had a wildcard bid from Yuri Milner/DST who offered to top any other bid by 20%. We initially chose the reputable firm at a lower price, but they refused to drop a ratchet provision so we decided to give DST a chance.

Yuri understood 2 things that nobody else could see at the time: 1/ He had seen virtual currencies in Eastern Europe and China, believed FB could make money this way. 2/ We were offering secondary shares at 40% discount to preferred, DST was the only firm who valued this.

Yuri not only offered to clear the highest bid by 20%, he also offered to let Zuck vote all of his shares including any secondary shares purchased from early employees. This allowed Zuck to consolidate his voting power.
INVESTING
Aswath Silber
Aswath Silber
@Aswath_Silber
Hilo con los mejores ETF indexados de RV

Con 4-5, podéis haceros vuestra propia cartera global por un coste muy inferior al que ofrecen por ahí

Tablas con ISIN, Acum/Dist, comisión y reparto por países

🟩la menor comisión en su categoría
🟪sin comisión de compra en degiro

👇

1- MSCI World o ACWI 🌍

Un ETF que contiene todo el mundo, para los más "vagos"

Contras: emergentes pesan nada muy poco


2 - USA 🇺🇸

Imprescindible en cualquier cartera. S&P500 y Nasdaq

Muchas opciones muy baratas. Acumulación o Distribución, para todos los gustos

Atención a los recién salidos L&G y Amundi Prime que baten a los ishares y vanguard en comisiones


3 - Europa 🇪🇺

Más variedad de índices

Stoxx 600: 600 acciones, large y mid. Usado por Vanguard

MSCI Europa: 400 acciones. Usado por el resto

Stoxx 50: las 50 más grandes


4 - Emergentes 🇨🇳🇮🇳🇧🇷🇷🇺🇹🇼

A recalcar:

China pesa entre un 30 y un 40% en todos

BABA y Tencent principales posiciones (10% aprox)

*Vanguard no incluye Corea del Sur como emergente, el resto si
INVESTING
The King Tut
The King Tut
@kingtutspacs
🔎 $RTP/@hippo_insurance: SaaS harnessing AI to revolutionize the home insurance industry 🦛🏠

- Everything you need to know
- One-stop-shop for all things smart/connected home
- Higher growth & revenue than closest public competitor $LMND/@Lemonade_Inc

Time for a thread 🧵⬇️


Hippo was founded in 2015 by Assaf Wand, an ex-McKinsey consultant and Eyal Navon, serial entreprenuer and software engineer.

Wand's interest in insurance was inspired by his father's lengthy career in the "antiquated" insurance industry. $RTP


After two years of R&D, fundraising, and product development, Hippo launched in April 2017 in California.

The company's marketing was centered on the delivery of a 60-sec quote for insurance policies, transparent process, and smart home integration.

https://t.co/msy9u2ZpST $RTP


By March 2019, with Hippo insurance available to more than 50% of the homeowners in the US, the company reported a 25% month-over-month sales growth and total insured property value of more than $50 billion, with a 93% customer retention rate.

https://t.co/D5AyWgonVp $RTP


Hippo is going after a slightly different market. Most of the new insurance companies have pitched services to renters and city dwellers made up of the mostly millennial demographic, while Hippo is aiming its services squarely at homeowners. $RTP

https://t.co/MYo9HWDmdV
INVESTING

You May Also Like

\U0001f1fa\U0001f1f8I Support Our Military & Law Enforcement\U0001f1fa\U0001f1f8
🇺🇸I Support Our Milita...
@TheWiseOwl_AZ
1. There are more people added on the list of arrests and executions of famous people but no further intel is available at this time.

ARRESTS and EXECUTIONS OF FAMOUS PEOPLE 2020 UPDATED
Explanation of the latest military tribunal arrests and executions of famous people in 2020.

2. The tribunals are arresting these people in plain clothes. We saw the Obama’s arrest, although we didn’t know it was an arrest at the time. The arrest was done nonchalantly so as to not get noticed by the public.
All arrests of these famous people were done this way.

3. If the person is convicted of child sex trafficking, crimes against humanity or treason, they will be executed.
If the person arrested has evidence on someone else to help their prosecution, or is willing to help Trump, & they want to cooperate, they may be allowed to do so.

4. A sentence of execution down to life in prison may be accepted if their evidence is worth anything.
When a plea deal is done, the defendant must present evidence they have to make their sentence lighter. This information is given to the prosecution, defense, and to the judge.

5. If evidence is accepted, they are presented the plea deal. They will have to make a guilty plea to the crime with a video confession & written statement. That is how all plea deals work.

All famous people arrested were either treasonous or involved in satanic worship rituals.
CRIME
Maurice Casey
Maurice Casey
@MauriceJCasey
I am reading through reams of late-1920s communist poetry and easily my favourite title so far is: "To a Lady who Rejected a Poem about Spring as a Petit-Bourgeois Deviation"

The last lines:
"So here's my hat into the air,
Three cheers for your amazing hair,
For coal mines, and for turbines, too,
For steel, the Comintern and you!"

A not exactly graceful (though possibly satirical) title: "Lines Disassociating Myself from Yessenin and Supporting the Otherwise Unfounded Legend that I am a Foremost Proletarian Writer"

An excerpt:
"Goodbye verses of Yessenin
Goodbye literary slop-
You are not the line of Lenin
You are not the line of WAPP

Never shall I moan a
simple lyric from the heart
I'll devote my new corona
to the proletarian art"

The poet was Joseph Freeman, who published much of his revolutionary verse in the New Masses, a stylish journal of the interwar American literary Left.
CULTURE
Advertisement
Vibhu Vashisth
Vibhu Vashisth
@VIBHU_Tweet
THE LESSER KNOWN MAHARANA OF MEWAR:RANA KUMBHA
Kumbalgarh Fort is one of most spectacular sites of India,atop a hill abt 3600ft above sea lvl in the https://t.co/LkjmzzBhE2's second largest wall is surrounding it.A fort wall second only to Great wall of China,still not so famous.


This longest wall of India stretches to almost 36Km and encompasses a few hills, many step wells and over 360 temples and palaces. Birth place of the Great Maharana Pratap, this fort is named after another Great Maharana of Mewar, who is not given his due in the History.


Builder of many architectural marvels like the Kumbhalgarh Fort, an erudite scholar, a patron of arts, music, culture & a great warrior was the Great Maharana Kumbha. Yet we don't know much about him. Let's get to know him a little.


Maharana Kumbha was the undefeated King of Mewar from 1433-1468CE.He never lost any battles &kept Mewar out of the reach of Islamic Invaders till the time he was alive. Born on Makar Sakranti to Maharana Mokal & Saubhagya Devi, Rana Kumbha was only 13 when he ascended the throne.


His father was killed by his own relatives in a political conspiracy. He was a powerful King about 8ft tall &charismatic personality,a hardcore Hindu Rajput who could shed his life for Hindu honour without thinking twice.He was an ardent skillful warrior who never lost a battle.
ALL
Erik Torenberg
Erik Torenberg
@eriktorenberg
1/ Some initial thoughts on personal moats:

Like company moats, your personal moat should be a competitive advantage that is not only durable—it should also compound over time.

Characteristics of a personal moat below:


2/ Like a company moat, you want to build career capital while you sleep.

As Andrew Chen noted:


3/ You don’t want to build a competitive advantage that is fleeting or that will get commoditized

Things that might get commoditized over time (some longer than


4/ Before the arrival of recorded music, what used to be scarce was the actual music itself — required an in-person artist.

After recorded music, the music itself became abundant and what became scarce was curation, distribution, and self space.

5/ Similarly, in careers, what used to be (more) scarce were things like ideas, money, and exclusive relationships.

In the internet economy, what has become scarce are things like specific knowledge, rare & valuable skills, and great reputations.
LIFE
Roger Grosse
Roger Grosse
@RogerGrosse
Important paper from Google on large batch optimization. They do impressively careful experiments measuring # iterations needed to achieve target validation error at various batch sizes. The main "surprise" is the lack of surprises. [thread]

https://t.co/7QIx5CFdfJ


The paper is a good example of lots of elements of good experimental design. They validate their metric by showing lots of variants give consistent results. They tune hyperparamters separately for each condition, check that optimum isn't at the endpoints, and measure sensitivity.

They have separate experiments where the hold fixed # iterations and # epochs, which (as they explain) measure very different things. They avoid confounds, such as batch norm's artificial dependence between batch size and regularization strength.

When the experiments are done carefully enough, the results are remarkably consistent between different datasets and architectures. Qualitatively, MNIST behaves just like ImageNet.

Importantly, they don't find any evidence for a "sharp/flat optima" effect whereby better optimization leads to worse final results. They have a good discussion of experimental artifacts/confounds in past papers where such effects were reported.
MACHINE LEARNING