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.

The art of being wise is the art of knowing what to overlook.

Monday, March 11, 2024 Francisco 0 Comments

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Most things in this world don't matter. You know my position about news, politics, football etc.. never try to change someone. I try to be with nature, kids and animals and of course reading is the biggest pleasure.

I don't  pay too much attention to doctors I let my body heal. Normally it does.

Very little is needed to make a happy life; it is all within yourself, in your way of thinking.

Marcus Aurelius

The art of being wise is the art of knowing what to overlook.

William James

What is your company about?

Monday, March 11, 2024 Francisco 0 Comments

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Attitude is a little thing that makes a big difference

Winston Churchill

When you have a reason to exist besides making money it's probable that you will resist many years.

I received this last week from Microsoft , we canceled one email in Lisbon Family Office  and they credit us with the  correspondent money back . I did not ask for it. 

From Master Investment

‘Charles R. Walgreen Sr. would be heartened to learn that the company he started over a century ago has succeeded by sticking to the basic values he established in his first store: Put the pharmacy first, even when it's not making the most profit; hire people on character and promote internally based on performance; treat your employees like family; and, most important, treat every customer "like a guest in your home," as he said.’

"Has life regressed into paying bills and living for a weekend?"

Friday, March 08, 2024 Francisco 0 Comments

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"Has life regressed into paying bills and living for a weekend?"

MJ DEMARCO

Well begun is half done

Wednesday, March 06, 2024 Francisco 0 Comments

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 Well begun is half done.

Aristotle

Apparently there is a book called An Educated dog is a happy dog, in my dog case what I start doing in the first place stayed forever, it's difficult to change bad habits. better to start in the right foot.

when you hire someone write clearly what are the rules of the place, print them and put them on the fridge in the kitchen.

'Good fences make good neighbors.'

Robert Frost

There is a Portuguese proveb that says what is born crooked never gets straightened. (O que nasce torto nunca se endireita) 

Capitalists get rich by producing a product the world wants

Wednesday, March 06, 2024 Francisco 0 Comments

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"The only ones who get rich by oppressing the working class are the politicians.

Time spent on any item of the agenda will be in inverse

Monday, March 04, 2024 Francisco 0 Comments

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Time spent on any item of the agenda will be in inverse proportion to the sum involved.

C. Northcote Parkinson

This could be funny but it's true , in Portugal everybody is happy with a discussion of the new Lisbon Airport , politicians will vote in 5 minutes something that costs 8 or 10 billion euros , they just can't comprehend the size, and they reach a yes in 5 min without asking if there is a need for a new airport in the first place.

If they are deciding the  supplier of coffee in the parliament they would spend hours , it's something they can do some calculations.

lesson:

If you want to pass something fast make it big behind comprehension