“Past a certain level of income, what you need is just what sits below your ego. Spending past a pretty low level of materialism is mostly a reflection of ego approaching income, a way to spend money to show people that you have (or had) money. Think of it this way, and one of the most powerful ways to increase your savings isn’t to raise your income, but your humility.”
Via Collaborative Fund https://www.collaborativefund.com/blog/let-me-convince-you-to-save-money/
Tag: linkedin
Why save
“You don’t need a reason to save. Are you saving for a house? Or a vacation? Or a new car? No, I’m saving for a world where curveballs are the most common balls thrown. Only saving for a specific goal makes sense in a predictable world. But ours isn’t. Savings is a hedge against life’s inevitable ability to surprise the hell out of you at the worst possible moment.” (This applies especially for companies at times like these)
Via Collaborative Fund https://www.collaborativefund.com/blog/let-me-convince-you-to-save-money/
Control over your time is a strategic advantage
“That flexibility and control over your time is an unseen return on wealth. When time isn’t on your side you’re forced to accept whatever bad luck is thrown your way. But if you have flexibility, you have the time to wait for no-brainer opportunities to fall in your lap.”
Via Collaborative Fund https://www.collaborativefund.com/blog/let-me-convince-you-to-save-money/
The Power of Flexibility
“In a world where hard skills become automated, competitive advantages tilt toward nuanced and soft skills – like communication, empathy, and, perhaps most of all, flexibility. Having more control over your time and options is becoming one of the most valuable currencies in the world.”
Via Collaborative Fund https://www.collaborativefund.com/blog/let-me-convince-you-to-save-money/
The ability to learn faster than your competition is a sustainable competitive advantage
The world is filled with smart people who get nowhere because their intelligence was acquired 20 or 30 years ago in a vastly different world than we live in today. And since intelligence has a lot of sunk costs, people tend to cling to what they learn, even while the world around them constantly changes. So the ability to realize when you’re wrong and when things changed can be more effective than an ability to solve problems that are no longer relevant.
Via Collaborative Fund https://www.collaborativefund.com/blog/sustainable-sources-of-competitive-advantage/
Every Great Investment Hurts
What is true that you know but others don’t?
“Obviously you don’t make money if you’re wrong. What most people don’t realize is that you don’t make money if you’re right in consensus. Returns get arbitraged away. The only way you make money is by being right in non-consensus. Which is really hard.”
Via Collaborative Fund https://www.collaborativefund.com/blog/every-great-investment-hurts/
Some Things I’m Pretty Sure About
“Successful investing is having everyone agree with you … later. That means you can’t “ignore the noise” forever. Your success relies on getting the noise, the idiots, and the gamblers to eventually see eye to eye with your thesis.”
Via Collaborative Fund https://www.collaborativefund.com/blog/some-things-im-pretty-sure-about/
Some Things I’m Pretty Sure About
“Few superpowers are as super as the ability to change your mind. It is so much easier to fool yourself into believing a falsehood than admit a mistake.”
Via Collaborative Fund https://www.collaborativefund.com/blog/some-things-im-pretty-sure-about/
Rules in the Textbooks, Guidelines in the Trenches
“Jeff Bezos recently explained why he listens to individual Amazon customers in addition to broad data: ‘The thing I have noticed is when the anecdotes and the data disagree, the anecdotes are usually right. There’s something wrong with the way you are measuring it.'”
Via Collaborative Fund https://www.collaborativefund.com/blog/rules-in-the-textbooks-guidelines-in-the-trenches/
Not Caring: A Unique and Powerful Skill
“Napoleon’s definition of a military genius was “the man who can do the average thing when everyone else around him is losing his mind.” It’s harder than it sounds and requires an iron will of detachment.”
Via Collaborative Fund https://www.collaborativefund.com/blog/not-caring-a-unique-and-powerful-skill/
New Disruptors 