Only entropy comes easy.
– Anton Chekhov
Have we ever wondered why things rust? I mean apart from the chemical process permanently changing metals, rust is quite a fascinating phenomenon. For investors like us, rust comes in the form of two things, inflation & cost of capital. For the physical world, rust is still the chemical process where metal corrodes as it ages. As investors, what we fear though is a threat of moral corrosion than a physical one. More on that later.
“The only way to win is to work, work, work & hope to have a few insights.”
– Charlie Munger
Insights are incredibly rare. I know that this insight itself is going to be lost on many of us. It was certainly lost on me for a while. I follow 200+ people on twitter & if at least 10% of them share some unique reading material everyday, that means I need to read at least 20 new things, each day. Well, great way to learn about the world, but is it something that I want to learn, today?
Does staying fit help in anyway to become a good investor?
I was listening to a very honest interview, with Mikael Syding, a former hedge fund manager from Sweden. What struck me the most about this interview, were not just his thoughts on investing but also about fitness.
The Truth can be adjusted
Lately, I have been spending a lot of time reading business biographies. I have always been enamoured by the ability of some investors to weave stories and narratives out of historical facts.
I recently presented on the Alibaba Group & its founder Jack Ma (lovingly known as Crazy Jack) at FoF. While reading about the culture of the firm, it was obvious that they’re heavily influenced by their founder’s love for martial arts and historical Kung Fu Fiction. It’s so much woven into their culture, that Jack Ma’s nickname in the company is “Feng Qingyang” which comes from a character, who is a reclusive, unpredictable & aggressive swordsman.
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