13. Value investing and growth/momentum investing both work and it’s important to respect and try to integrate the best ideas from each investing style into your own. Don’t be a cultist to one style. You’re only harming yourself and your family by drinking the Kool-Aid.
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14. Financial statements are usually the outputs of a company’s value drivers, not the value drivers themselves. Learning adjacent skill sets, such as direct response marketing, can open up opportunities to you that others can’t yet see. I recommend Tested Advertising Methods.
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15. Knowledge is abundant and by itself is only rarely a competitive advantage. But you can create an edge by synthesizing knowledge to create an understanding that is unique to you.
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Taking a break now that I’ve worked through my backlog. Will do more later if more likes come, though.
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16. The strength of the crypto and pot stock bubbles were influenced in part by how aggressively they were hyped by investment newsletters. The size of the industry would surprise most people. The largest co. has a subscriber base in the seven figures.
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17. Company narrative metagame management is one of the primary roles of a good CEO and most do a poor job of it. Managing your narrative is a big aspect of capital allocation and can create or destroy fortunes for your shareholders.
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18. This is why Elon Musk may be one of the greatest CEOs of all time, ESPECIALLY if you think Tesla is worthless. Narrative management + capital allocation alters intrinsic value.
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19. Some of the most basic setups are basically just capital structure arbitrage. Have doubled my money on
$MAR from the company replacing higher cost equity with lower cost debt. Doesn’t always work out but when it does it’s like putting biz performance on steroids.2 replies 5 retweets 152 likesShow this thread -
20. Dispassionate analysis will always have its place but emotion can add a ton of value to an investor’s skill set. Putting yourself in the customer’s shoes can help you share empathy with them, which can tell you a lot about WHY they use the products and services they do.
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Replying to @LAForeverHall
I would add: this same framework can be extremely useful for flipping a position (eg long to short)
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That makes a ton of sense to me.
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