I can live for two months on a good compliment

Friday, April 26, 2024 Francisco 0 Comments

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fake compliments are horrible , but if you can congratulate your kids for something well done, make a party it's even better.

The deepest principle in human nature is the craving to be appreciated.

True

Thursday, April 25, 2024 Francisco 0 Comments

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shareholder wealth is concentrated in very few stocks

Tuesday, April 23, 2024 Francisco 0 Comments

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If you find a winner , do nothing, sit

“The results also help to explain why active strategies, which tend to be poorly diversified, most often underperform,” says Bessembinder, who found that the largest returns come from very few stocks overall — just 86 stocks have accounted for $16 trillion in wealth creation, half of the stock market total, over the past 90 years. All of the wealth creation can be attributed to the thousand top-performing stocks, while the remaining 96 percent of stocks collectively matched one-month T-bills.

“It never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight!”

— Edwin Lefevre

Picking multi-baggers isn't hard 

Letting them turn into multi-baggers is

what could ruin my way of life fast?

Wednesday, April 17, 2024 Francisco 0 Comments

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How can USA be competitive?

Wednesday, April 17, 2024 Francisco 0 Comments

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How can USA be competitive? 

they can't 

USD must fall

Stay the course

Monday, April 15, 2024 Francisco 0 Comments

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We have control over almost nothing

Monday, April 15, 2024 Francisco 0 Comments

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We have control over the way we react to what happens to us, yes we can control this. Only this. The rest is out of our hands.

Of all men's miseries the bitterest is this: to know so much and to have control over nothing.

Herodotus

I have too much stuff

Sunday, April 14, 2024 Francisco 0 Comments

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Why Cities Live forever and Companies Die a lot and faster

Thursday, April 11, 2024 Francisco 0 Comments

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 “The strength that comes from human collaboration is the central truth behind civilisation’s success and the primary reason why cities exist we must free ourselves from our tendency to see cities as their buildings, and remember that the real city is made of flesh, not concrete.”

— Edward Glaeser

Cities nurture anonymity, which liberates people to pursue their dreams. they are magnets for individuals and business.they are diverse, in terms of activities they support, skills they generate, and populations they attract. They create economies of scale and scope. They produce complex networks of exchange, including with other cities. Not least they can supply transportation, communications, water supply, sewerage, energy, health and other services far more efficientely than either rural or sprawling suburban areas.

Martin Wolf

What else

Wednesday, April 10, 2024 Francisco 0 Comments

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It is not always the same thing to be a good man and a good citizen

Wednesday, April 10, 2024 Francisco 0 Comments

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“Those who would give up essential liberty to purchase a little temporary safety, deserve neither liberty nor safety.”

The Illusion of I’ll Be Happy When

Monday, April 08, 2024 Francisco 0 Comments

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 “He who is not contented with what he has, would not be contented with what he would like to have.”

No meetings with mobile phones

Thursday, April 04, 2024 Francisco 0 Comments

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Nature does not hurry, yet everything is accomplished.

Lao Tzu

When I ear that Warren Buffet does not have a smart phone or computer, of curse it's possible to do well  without multitasking/rushing 

The king of cashmere doesn't want distractions  either

From:Wiki:

Established in 1978 in the picturesque town of Solomeo, Italy, this brand has become a global symbol of Italian craftsmanship and artisanal excellence. From its impeccable tailoring to its premium materials and timeless designs, Brunello Cucinelli stands out as a brand that convey Quiet Luxury.

From :Brunello Cucinelli 10 core ideas, Quartz

Also, mobile phones and emails have certain rules: No, it’s not 24/7, because here in the company, you start at 8 AM, and at 5:30 PM you are forbidden to work any further. No emails can be sent to more than two addresses, just one or two. No group mailing. Why must a single email be read by 10 different people, unless it’s the 10 people who are interested in that specific issue? In order to disperse responsibility?

Here, we have no meetings with mobile phones. No one is allowed to bring them into the meeting room. You must look me in the eye. You must know things by heart. You must know all of your business with a 1 to 2 percent error rate. It is also training for your mind. It is also a question of respect, because I have never called someone on a Saturday or a Sunday. No one is allowed to do so. We must discover this, because if individuals rest properly, then it is better. 

If you quit once it becomes a habit

Wednesday, April 03, 2024 Francisco 0 Comments

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 "If you quit once it becomes a habit. Never quit."

If you're going through hell, keep going. 
Winston Churchill

Resolve never to quit, never to give up, no matter what the situation. 
Jack Nicklaus

Winners never quit and quitters never win. 

Vince Lombardi

In 15 years of bike racing I quit once. After that I blame myself until today it was a really bad decision. besides that I never quit either in marriage or in business sometimes even after things are behind repair...

On that day on the bike I spent the first 3 hours with an Heart rate of 170  and then above 160 until I quit after 5 hours . I eat poorly and my brain was not functioning well with lack of sugar, I thought I was doing very badly when in retrospect they told me I crossed Marão mountain  in the top 10, I was completely empty and without food. On that day I did a lot of mistakes. Too fast, not enough food etc...

besides that I quit Transportugal Roads but to go to the Hospital and the bike was ruined.

I hope I will never quit again. I hope the phrase if you quit once you became a quieter does not apply to me!!!

In order to become the master, the politician poses as the servant.

Tuesday, April 02, 2024 Francisco 0 Comments

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In order to become the master, the politician poses as the servant.

Charles de Gaulle 

Find/create  a problem , scare the public, pretend to solve the problem , take care of you and your friends during the process make sure the problem is never resolved

So Simple

Tuesday, April 02, 2024 Francisco 0 Comments

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challenging education easy life, easy education difficult life

Tuesday, April 02, 2024 Francisco 0 Comments

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The roots of education are bitter, but the fruit is sweet.

Aristotle

When you have everything

Monday, April 01, 2024 Francisco 0 Comments

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When people have everything perhaps they don't have kids . Or perhaps the cost of living is so high that we need both parents to work a full job and kids are a huge expense if you have a full time job.

Doing well is the result of doing good

Wednesday, March 27, 2024 Francisco 0 Comments

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"The only ones who get rich by oppressing the working class are the politicians. Capitalists get rich by producing a product the world wants or needs. The more people they sell to the richer they can become. There is nothing evil or immoral about that. "

The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries.

Winston Churchill

Avoid people that act like a victim in a problem they created.

Monday, March 25, 2024 Francisco 0 Comments

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Never complain even if it's not your fault. Some people are not used to complain that is the best attitude. 

Never complain and never explain.

Benjamin Disraeli

A thankful person is thankful under all circumstances. A complaining soul complains even in paradise.

Home is the base

Monday, March 25, 2024 Francisco 0 Comments

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I have seen many types of homes, some people just scream with each other all day, home is a battlefield , I prefer silence and calm.

I grew up in a household where everybody lived at the top of his lungs.

Frank Langella

Home is where you feel at home and are treated well.

Dalai Lama

Leave men free and their natural inequalities will multiply.

Friday, March 22, 2024 Francisco 0 Comments

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The worst form of inequality is to try to make unequal things equal.

Aristotle

The list of the richest people in the world has new faces , MUSK , Bezos, Zuckerberg and that changes everything , it's possible to start from nothing and become the richest person on earth in 1 generation. why is this possible? Because of the internet , yes internet brings opportunity to billions everywhere. Internet did more to the poor that the state or the church in thousand years.

There was a problem in the world when to rich families were the same in 100 years the Rockefellers & the Rothschilds etc... with internet & Bitcoin these old families disappeared.

what are people complaining about? 

the only place where people are equal is soviet union and everybody is equally poor. If we let people be what they are , very different results will happen and luck has a big role. There is no problem with the world when you can change your status fast if you have a good idea. 

Americans have so far put up with inequality because they felt they could change their status. They didn't mind others being rich, as long as they had a path to move up as well. The American Dream is all about social mobility in a sense - the idea that anyone can make it.

Fareed Zakaria

Walking is the best possible exercise.

Monday, March 18, 2024 Francisco 0 Comments

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Walking is the best possible exercise. Habituate yourself to walk very far.

Thomas Jefferson

All truly great thoughts are conceived by walking.

Friedrich Nietzsche

A wise man pretends to be a .....

Monday, March 18, 2024 Francisco 0 Comments

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 A wise man pretends to be a fool.

"You want to be rich and anonymous, not poor and famous." -

when you need to advertise something it's because that isn't the case.

Democratic Republic means that it's not democratic

Freedom/Liberty normally there is no freedom/Liberty

The beautiful flag of Brasil says Progress & Order...

In my life dealing with really rich people normally people try do conceal their riches

The best is disguised not advertised

Everything I know about life

Friday, March 15, 2024 Francisco 0 Comments

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 I like what I do well, so it's key not to diversify, stay at anything long enough and you will love it because you get better at it 

 Focus +Stay at it long enough = success

“The most important step in becoming successful in anything is to first become interested in it." — Sir William Osler

"You make your own luck if you stay at it long enough."
@naval

My meeting with David Swensen in 2004

Thursday, March 14, 2024 Francisco 0 Comments

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Not everybody invests in Private Equity but if you do......

David Swensen was in Lisbon in 2004 to speak in a BPI event  and his message was:

Equity mentality. Only buy things that can make equity like returns. Forget bonds & cash.

The difference between the best & the rest in Equities is small. Do little research, buy the index or a cheap active manager.

The difference between the best & the rest in Hedge Funds is important. Buy the best.

The difference between the best and the median in Private equity & Venture is huge . Choose carefully if you dare to do it .** 

** Note :in venture & Private equity there is clear signs of Persistence

We need exclusion in key positions

Thursday, March 14, 2024 Francisco 0 Comments

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In a blind audition the identity of the performer is concealed from the judges so as to prevent bias. The performance takes place behind a curtain so that the judges cannot see the performer. Blind auditions have become standard in symphony orchestras.

In important roles we can't have inclusion we need exclusion. We can't have a violinist or a surgeon that is there because he/she is from a minority. Inclusion should only be allowed to less important occupations. 

Some game-changing studies have been released that show the 'conclusion' about the positive relationship between ESG and returns is flawed. Some key literature used by many asset managers and ESG proponents for years has been debunked.