72. Portfolio diversification is like type diversification in Pokémon. If you just powerlevel Charmander, you risk getting BTFO by Misty’s Starmie in Cerulean City. Going all in will kill you eventually.
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73. One of the cool things about getting taken out of school in 4th grade is that I got to spend my time playing a lot of games. Gaming teaches you how to creatively analyze and exploit systems, which is useful in the market and life in general. Never stop playing! H/t
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74. Attention to detail often doesn’t matter all that much if you’re looking at compounders, but in some situations it’s crucial. Like how I accidentally created a new thread chain for the
@vgr 100 Tweet challenge at number 72. Please don’t disqualify me!
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75. Ben Graham was an innovator of investing in his day, and brought creative new ways of thinking to the field. It’s a disservice to Graham that many of his devotees refuse to do anything but emulate his investing style, when they should be emulating his creativity instead.
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76. Culture is important. If a lot of people are really into something, you owe it to yourself to check it out and see what all the fuss is about. Culture creates cash and if you want some of it, it’s important to keep an eye on what people who aren’t like you think.
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77. When I was a kid, I lived in a skating rink and later a trailer park. Rent seeking behavior towards those in poverty is disgusting, and companies that treat low income people with dignity and make their lives even a little easier can build a lot of loyalty.
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78. Sometimes, one of the worst investments you can make is in yourself. Humans depreciate quickly and if you don’t make it to the immortality cutoff, you’re screwed. But ownership is a leech on other people’s time and can keep growing stronger well after you’re six feet under.
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79. A great heuristic to gauge someone’s financial sensibility is to ask about their opinion on Rich Dad, Poor Dad. I have yet to find another question that cuts through so much BS so quickly.
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Replying to @LAForeverHall
Liz, just got to the rest of the thread. So good. Curious on the Rich Dad, Poor Dad book. That book rubs me the wrong way and there of course is John Reed's found takedown of it. https://johntreed.com/blogs/john-t-reed-s-real-estate-investment-blog/61651011-john-t-reeds-analysis-of-robert-t-kiyosakis-book-rich-dad-poor-dad-part-1 … How do you use it as a litmus test? I know dentists who love it.
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Replying to @LAForeverHall @KrisAbdelmessih
would like to know as well: How do you use it as a litmus test?
0 replies 0 retweets 1 likeThanks. Twitter will use this to make your timeline better. UndoUndo
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