Rignesh

🧵Mohnish Pabrai (@MohnishPabrai) just sat down with Sonia Shenoy (@_soniashenoy) to discuss his approach to investing, wealth, and finding meaning in life. A recap for those that missed it: 👇👇👇 💰 On meeting Warren Buffett: "More than 70 million of my net worth was directly attributable to learnings I got from Warren. I've gotten all these learnings, I've never paid any tuition bill. A tuition bill makes sense." 🧠 On the inner scorecard: "Do you want to be known as the best lover in the world but internally know that you're the worst, or do you want to be known as the worst lover in the world but internally know that you're the best?" 🌊 On adversity: "To encounter misfortune and overcome it is good fortune. There has never been a case in my life where any adverse things did not lead to greater growth." 📈 On wealth creation: "If you're even a slightly above average investor and you spend less than you earn and you use no leverage, you cannot help but get rich over a lifetime." ⏳ On market cycles: "From 1965 to 1982 the major index, the Dow, was flat... 17 years zero. Then from '82 to '99 it went from 865 to like 12,000 - exponential growth." 🧘‍♂️ On patience in investing: "The single most important skill that an investor needs is patience. If you are the kind of person who loves to watch paint dry, you will do extremely well as an investor." 📦 On choosing investments: "99% of stocks should go into what Buffett calls the 'too hard' pile. There's actually a box on Buffett's desk which says 'too hard' on it." 🌧️ On finding value: "Warren says when it's raining gold, don't put out a thimble, put out a big bucket." 🎭 On market panics: "When you have mass exodus going on in the theater, the baby's going to get thrown out with the bathwater. A lot of good things will go away with bad things." 💎 On money and happiness: "Buffett says the money he has cannot make him happier by spending it. Whatever happiness he can get by spending money, he's already spending." 👥 On friendship selection: "If you hang out with people better than you, you're going to get better. If you hang out with people worse than you, you're going to get worse." 👨‍👧‍👦 On parenting: "One of the biggest responsibilities we have is we're in a position to have a huge influence on some very impressionable lives. There is no substitute for good parenting." 🎮 On life having no meaning: "We're here for a short time. Try to make the most of it in that time and try to have the most fun. For me, that means playing games that I enjoy." 🌱 On a life well-lived: "A life well-lived is you leave planet Earth better than you found it. Be a good parent. Pursue your passion, do the best you can." Thanks for reading and I hope you found this recap useful.

@bkaellner Summary of the big ideas to learn. carlescarrera.medium.com/charlie-munger…

Charlie Munger advocates for what he calls "worldly wisdom," which involves having a multidisciplinary approach to thinking He believes that one should learn the major, fundamental concepts from fields like economics, psychology, physics, history, and more This approach allows individuals to see the world more clearly and make better decisions by applying these concepts in combination rather than in isolation Munger stated, "You must know the big ideas in the big disciplines and use them routinely – all of them, not just a few" Little known fact: It took Peter Kaufman (the editor of Poor Charlie's Almanack) just 6 months to learn all the big ideas from interviews in Discover magazine 👀

this christmas, i am humbly asking for your help to support dr. hankinson's research. if not with $, i would be just as grateful for a repost or a like on this thread. 100% of your donation goes directly to funding the research efforts of Hankinson Lab: gofundme.com/f/help-mira-an…

"If you do not actively choose a better way, then society, culture, and the general inertia of life will push you into a worse way. The default is distraction, not improvement." -@JamesClear

"You draw out of the world what you put into it. Want to attract reliable people? Be reliable. Want to attract trustworthy people? Be trustworthy. Want to attract welcoming people? Be welcoming. Want to attract exceptional people? Be exceptional." -@JamesClear

Terry Smith breaking down how to buy a quality company.

The cost of distraction is the person you could’ve become. If you suffer from distraction, read this. My Deep Work routine:

1/ 🧵Warren Buffett released a masterclass on how to achieve success in business yesterday Here are my 10 most powerful insights from his annual letter to shareholders 👇

"If you want to be rewarded, you have to be irreplaceable. If you want to be irreplaceable, you have to be unique If you want to be unique, you have to be authentic If you want to be authentic, stop listening to everyone and everything else It’s drowning “you” out." - @naval

This PDF will teach you more than an MBA. It will even make you smarter than most fund managers. 10.000 (!) pages full of investing wisdom from Warren Buffett, Terry Smith, Howard Marks and many more. To receive it: 1️⃣ Follow us 2️⃣ Retweet this tweet 3️⃣ Reply 👋 below

"Before you throw more time at the problem, throw more focused action at the problem. You don’t need more time, you need fewer distractions." – @JamesClear

Brian Dean sold his one-person company for MILLIONS of dollars. He built a personal brand around SEO that amassed 1m organic visits/per month The exact steps he took and what you can copy 👇

SEC filings are INCREDIBLY useful But, the forms names are confusing Here are the 9 filings that every stock picker needs to know:

How can some people invest so successfully? I think I've figured it out. THREAD: The eight strategies of investing.

The story of @cz_binance is a must see!

How long do S&P 500 corrections last? Since 1950: ▪️64% end <4 months ▪️18% end >4 months but <1 year ▪️18% end >1 year Nice table by Sean Williams

My interview with @MorganLBrennan & @michaelsantoli discussing demand for #bitcoin in 401k plans, the interaction of traders & technocrats to set $BTC price, the surge in bitcoin mining efficiency & ESG FUD, and @elonmusk's plan to deliver cyber freedom & security via @Twitter.

I must already be in heaven. Thanks @warrenbuffett - dakshana.org/wp-content/upl…

Chick-Fil-A is closed every Sunday. Despite being open 52 less days each year, they generate more revenue per location than ANY restaurant in the world. Their success is no accident. Here's how they did it 👇

I challenged myself to a week of rejection. At first, it was just for fun. Turns out, if you don't ask, you don't get. I've gotten access to some crazy experiences and met some really cool people. Also got a ton of free stuff. 🧵