48. The Greater Fool Theory is something to be cherished, not maligned. Playing it opens up a whole new world of opportunities where psychology is a competitive advantage. But if you never try, you’ll never get better.
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49.
$GOOG and$FB have faced a lot of criticism about their ads not working. Not a new problem. Most ads either don’t work or are hard to measure and advertising agencies have been feasting on that opacity for decades. Only when their lunch was eaten did they start crying foul.2 replies 10 retweets 99 likesShow this thread -
50. There is a misunderstanding that advertising returns could not be measured before big tech came along and provided a treasure trove of data. This is false. Keyed ads have been a thing in direct response advertising since before Silicon Valley was even an idea.
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51. Some of the best investment opportunities are found just by stumbling into them in your personal life and appreciating how cool the company is. Peter Lynch was pretty much right about this and this is also a big reason why emotion and empathy can be advantageous.
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52. Someone asked for elaboration on tweet #3. You can count the present value of real estate operating leases as debt if you want, I suppose, but you should think about the lease rejection damages cap. 502(b)(6) https://www.law.cornell.edu/uscode/text/11/502 …
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53. Following up, it’s hard to perfectly transmit knowledge and sometimes the understanding of a subject becomes goofy because the knowledge has become a Xerox of a Xerox of a Xerox of itself. Knowledge is viral and without close inspection, can rot and become antiknowledge.
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Replying to @LAForeverHall @valueterminal
lol I don't think I've ever seen such a meteoric rise! And the good thing is that it's completely deserved!
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It’s like showing up to the draft combine as an unknown then leaving a consensus #1 pick
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Haha, thank you both. That's very kind of you guys to say. :)
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