If you want to live in a happy country there are 2 possible strategies move to the Nordics or move to a catholic ex Spain colony. Yes Argentina is pari pasu with Portugal and all the latin catholic countries are much higher that their GDP per capita would suggest. I read this in Vaclav Smil The Numbers don't lie.
"The ideal would be to make money with your mind, not with your time."
Not everyone can have the benefit of being insane, but anyone can make life easier for themselves by turning down the beam of their reason slightly.
How to Live : A life of MontaigneNever invest in the next big thing
There is some true in this words, it's safer to invest in the TOP Dog the big thing vs the next big thing. However, Blockbuster was the thing and Netflix was the next big thing. The rest is history.
all said it's safer to invest in the current big thing, what happened to Blockbuster is not the usual, to be the number one is a great position, you have more money to spend on the brand and if you reinvest your competitors can't outspend you.
The Dow jones was up more than Nasdaq since 1971 according to professor Jeremy Siegel. yes almost without technology.
"The only valid political system is one that can handle an imbecile in power without suffering from it." - Nassim Nicholas Taleb
If a country can be governed by anyone it's a good country. If the top guy rotates and nothing happens. we are good. When the government change almost nothing should change.
A leader is best when people barely know he exists, when his work is done, his aim fulfilled, they will say: we did it ourselves.
"I think business networking is a complete waste of time. The reality is if you’re building something interesting, you will always have more people who will want to know you."
Lot's of people have just average or below average products so business networking is good for them. If you make something UNIQUE you will always have a following.
What is perfectly acceptable is to have a product that has a very good feature and you focus on that and only focus on that. There are always prospects that value that feature. Don't be everything to everybody.
A leader is best when people barely know he exists, when his work is done, his aim fulfilled, they will say: we did it ourselves.
The best countries and companies we don't know who is the CEO or President. It doesn't matter, there is a system a culture.
If the president matters a lot it's not a good country. Tesla is a one man show, I think it's doomed.
About culture today I saw this.
BlackRock CEO Larry Fink on Working from Home: " Working from home during the first year of covid, before vaccination was so successful. It worked so well beyond any imagination...But over time, working remotely has degraded every firm. It is a breakdown of culture"
I couldn't agree more. Working from home and spending the morning in pajamas and going to the kitchen 30 times a day didn't work for me.
It does not matter how slowly you go as long as you do not stop.
Everybody knows that effort matters. What was revelatory to me was how much it mattered.
You will never build something truly magnificent or become really great at something if you go in with the attitude of wanting it now.
Mark Minervini
If you want something now you are easily manipulated, if you can resist you can do anything in life.
resist
wait
Things take time
A man who is a master of patience is master of everything else.
Some companies have the mission of helping their clients do more.
yes they offer cheap solutions that solve clients problems. They are doing good for their clients. When a company can build cheap housing they are doing good. When IKEA figured out that it's much cheaper to assemble furniture in your house vs transport everything ready to use they helped lot's of people in the world. ZARA helped millions of people to have accessible fashion clothes.
We recently bought TJX for our clients and the case is this:
Strong business model: TJX is a leading off-price retailer, which means it buys products from a variety of sources and sells them at discounted prices. This business model allows the company to offer a wide range of products at competitive prices, which has helped it attract and retain a large customer base.
Wide selection of products: TJX has a diverse selection of products, including clothing, home goods, and other items. This variety of products helps the company appeal to a wide range of customers and increases the chances that customers will find something they want to buy.
Strong brand recognition: TJX has a number of well-known retail chains, including T.J. Maxx, Marshalls, and HomeGoods, which have strong brand recognition and customer loyalty. This has helped the company generate strong sales and customer loyalty over the years.
Operational efficiency: TJX has a strong focus on operational efficiency, which has helped the company keep costs under control and maintain strong profitability. The company has a streamlined supply chain and uses data analytics to make informed business decisions.
Adaptability: TJX has shown a ability to adapt to changing consumer trends and market conditions. The company has a history of successfully adjusting its product mix and merchandising strategies to meet the changing needs of its customers.
You don't need Technology and the new thing to beat the S&P.
The original 20 companies of the S&P 500 (1957 ) beat the S&P. If we consider the Full 2022 the difference would be even more. How is this possible?
Yet despite the odd construction of the Dow Jones Industrial Average, the return over the past 50 years (1971-2021) of 11,26 % per year has beat the 11,14% of the S&p and the 10,85% of the Nasdaq!
Jeremy Siegel , Stocks for the Long Run
Assuming if there's such a thing as reality, if you have a false relationship with it, how can you do anything but fail?
11,258 scientists agree with 1,180 governments: it’s time to declare a climate emergency. They write in a paper published in BioScience on 4 November 2019: “We declare, with more than 11,000 scientist signatories from around the world, clearly and unequivocally that planet Earth is facing a climate emergency.”
If you have something signed by 11,000 scientists and 1180 governments (there are only 195 countries in the World) and no one opposes, no discussion no debate no loser side it's because there wasn't any study, there wasn't any debate. It's like in my country the budget has 4000 pages and no one reads it. they just vote on it.
I saw this on twitter written by Gary Savage. Gary is a balanced guy. I know him personally.
reality will prevail as always
A $300 or a $30 watch both tell the same time!
After disaster I had my first victory ever
The fundamental delusion
Terrible day at the bike
There are two distinct periods in every man’s life:
I finished It
Don't take your girl to a cheap restaurant!
My meeting with David Swensen in 2004
Big Money Thinks Small
If you quit once it becomes a habit
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