How to become a SUCCESSFUL investor: a guide 1/n

1) Diversify but don’t. Diversification is for idiots, but it is also a free lunch.
2) Stay consistent but don’t. Have a consistent repeatable process, but also adapt to changing markets.
3) Read outside research but don’t. The best investors think for themselves and are lone wolves but they also talk to others to learn and copy ideas.
4) Use the sell-side but don’t. Your time is valuable and using the sell-side saves time, but it is also low quality and will add needless noise – don’t use them.
5) Talk to management but don’t. Meet with management and learn, but don’t let management influence your thinking because management is promotional.
6) Play the quarters but don’t. Stay up to date on current information and model every quarter, but also focus on the five-year performance and hold.
7) Ignore macro but don’t. Analyze individual companies because macro evens out over time, but macro also drives most of the returns so always understand the bigger trends.
8) Average down but don’t. If you like it and it falls buy more, but losers average losers so don’t.
9) Trade a lot but don’t. Stay active and move in and out of positions as new information comes in, but don’t trade too much.
10) Have a margin of safety but don’t. Make sure the balance sheet is strong enough to prevent any permanent capital impairment, but also buy high-quality businesses at fair multiples.
11) Short but don’t. Shorting is a great way to get more long, but longs make more $$$ and are less controversial so focus on them.
My point is that every great investor is different and you can’t break down success into a few quotes. This thread is inspired by:
https://t.co/Lg6dvdP0Fi

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The first ever world map was sketched thousands of years ago by Indian saint
“Ramanujacharya” who simply translated the following verse from Mahabharat and gave the world its real face

In Mahabharat,it is described how 'Maharishi Ved Vyasa' gave away his divine vision to Sanjay


Dhritarashtra's charioteer so that he could describe him the events of the upcoming war.

But, even before questions of war could begin, Dhritarashtra asked him to describe how the world looks like from space.

This is how he described the face of the world:

सुदर्शनं प्रवक्ष्यामि द्वीपं तु कुरुनन्दन। परिमण्डलो महाराज द्वीपोऽसौ चक्रसंस्थितः॥
यथा हि पुरुषः पश्येदादर्शे मुखमात्मनः। एवं सुदर्शनद्वीपो दृश्यते चन्द्रमण्डले॥ द्विरंशे पिप्पलस्तत्र द्विरंशे च शशो महान्।

—वेद व्यास, भीष्म पर्व, महाभारत


Meaning:-

हे कुरुनन्दन ! सुदर्शन नामक यह द्वीप चक्र की भाँति गोलाकार स्थित है, जैसे पुरुष दर्पण में अपना मुख देखता है, उसी प्रकार यह द्वीप चन्द्रमण्डल में दिखायी देता है। इसके दो अंशो मे पीपल और दो अंशो मे विशाल शश (खरगोश) दिखायी देता है।


Meaning: "Just like a man sees his face in the mirror, so does the Earth appears in the Universe. In the first part you see leaves of the Peepal Tree, and in the next part you see a Rabbit."

Based on this shloka, Saint Ramanujacharya sketched out the map, but the world laughed
“We don’t negotiate salaries” is a negotiation tactic.

Always. No, your company is not an exception.

A tactic I don’t appreciate at all because of how unfairly it penalizes low-leverage, junior employees, and those loyal enough not to question it, but that’s negotiation for you after all. Weaponized information asymmetry.

Listen to Aditya


And by the way, you should never be worried that an offer would be withdrawn if you politely negotiate.

I have seen this happen *extremely* rarely, mostly to women, and anyway is a giant red flag. It suggests you probably didn’t want to work there.

You wish there was no negotiating so it would all be more fair? I feel you, but it’s not happening.

Instead, negotiate hard, use your privilege, and then go and share numbers with your underrepresented and underpaid colleagues. […]