Tess Ang

A recap of Charlie Munger's Daily Journal Corporation annual meeting. It's a 2 hour-long video filled with pearls of wisdom from Munger. Here are my notes in 9 tweets:

When you invest, you are compounding your money. When you borrow, you are compounding others' money.

"Investing is a liberal art that involves the cross-pollination of ideas from multiple disciplines." #JoysOfCompounding @Gautam__Baid

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Persuasion through logos, or logic and fact is but only one way of communication. What are some of the best stories you have heard in a presentation? #storytelling #presentationskills

⚖️ Stories are like leverage When a topic is complex, stories are like leverage. It brings to attention topics that people ignore, when they've previously been presented with nothing but facts and figures.

Numbers are not the ingredient to a compelling presentation. It’s stories. Why?

Reflecting on my first presentation back in university… Before a presentation, I used to prepare by memorising a script that included all the facts and figures. I thought that it would make me persuasive. But that wasn’t it.

I was recently asked, “How would you advise complete beginners on saving money and investing?” Having studied many books on this topic, I've found this to be the best piece of advice: automate your finances. The reality is, most of us struggle with the willpower or discipline needed to consistently manage our spending. We often fail to track expenses, sometimes overspend our bank balance, or even "accidentally" slip into overdraft on our credit card account. When it comes to investing, strategies like Dollar Cost Averaging (DCA) – regularly buying stocks and other investments – are proven methods to build wealth. However, if we rely solely on our self-discipline, there's a high chance we'll either forget or spend the money we intended to invest. As creatures of habit and impulse, the best way to achieve financial goals is by minimizing the need for willpower. Automation is the key. Let’s say your objective with each paycheck is to invest 10% in the stock market and save 15% for home renovations in two years. The smart move? Automate these allocations. By setting up your bank account to automatically transfer 10% of your salary into index funds and 15% into high-yield savings account as soon as your salary arrives, you eliminate the temptation to overspend. This 'out of sight, out of mind' approach makes saving and investing seamless. This strategy is inspired by the book "The Automatic Millionaire." If your New Year's Resolution is to read more and upgrade your financial knowledge, I’ve something special for you to make sure this resolution don't become just another set of forgotten goals. Give this post a like to help others learn about this and check out the next post below 👇

@SteadyCompound Great takeaways, I enjoyed the part when he was talking about how LKY has built SG. Thanks @SteadyCompound for compiling!

Charlie Munger & John Collison podcast. It's bittersweet listening to one of Charlie's final interviews. His words of wisdom were always simple and straightforward. Here're my 15 takeaways:

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#Singapore is expected to be the largest digital lending market in SEA, while Indonesia is the biggest digital payments market. #southeastasia #digitaleconomy

In 2020, “growth” was the buzzword. In 2023, the key focus is on “monetisation” and “profitability”. How does this affect your company and customers?