87. Not caring what others think can be a strong competitive advantage. One of the most profitable businesses I’ve ever seen writes spam letters that open Boomer wallets like they’re running out of baked beans. Owner is a billionaire and few people know or want to emulate it.
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97. Most of the people who complain about indexing seem to be active fund managers who can’t sleep at night because they’re worried about the existential threat cheap alternatives pose them. The financial industry needs a good shakeout. This has been a long time coming.
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98. They’re losing business to... no one. No one is doing a better job than most asset managers. As in having no one as a manager is better than having most managers as managers. I’m glad the economic meat grinder is moving up the economic ladder to higher value targets.
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99. Just as asset managers and workers have been replaced by robots, CEOs soon will be as well. Twilight Zone predicted it back in 1964, and it’s cool to see how close it has become to reality. AlphaGo beat the top minds of Go. Can it beat Buffett?
$BRK https://en.m.wikipedia.org/wiki/The_Brain_Center_at_Whipple%27s …Show this thread -
100. Don’t be afraid to invent your own investing concepts. The field’s philosophy reminds me of heatlamped hamburgers left out to rot for decades. Investing is artistic so be artistic and try new things. It’s fun. Like I tried this hundred tweet thread andnowImdonethanks
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This was a lot of fun and I got to meet a lot of new friends, who are now 1/3 of my followers! Excited to have finished my AphorismsTwitter debut successfully. Thanks for putting up with the last 30 tweets! Link to the start of thread, since I broke it. https://twitter.com/laforeverhall/status/1205979160625049600?s=21 …https://twitter.com/LAForeverHall/status/1205979160625049600 …
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