Random nuggets of Specuvestor

[specuvestor]

Hi Moderators

I do not have any social media except a rather passive Linked-In so I thought to borrow this forum as a notepad for my thoughts in life and investment journey as I approach half century old; to hopefully benefit someone in future. If this is not appropriate pls do let me know

Purpose is to share some ideas that have shaped my thinking and perspective which I hoped someone did the same for me 30 years ago. These are not investment advices and most are not original. Some ideas might seem dumb prima facie but takes time and experience to understand the nuances. I do not aim to be politically correct.

I will pen down as and when I am free or feel inspired

[specuvestor]

1) Better a free Spartan than a rich slave be
2) Drunken driver has the right of way; loudest have the last say
3) Most reckless drivers over-confidently believe the reason they can cut is because they are skilled rather than people let them. Rational people generally don't think it's worth it.
4) You are as skilled and sought after as the organisation you represent. Without it you can be "Who's Who" to "Who's That" within a month. Reputation and character will go longer than career.
5) Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward

[Choon]

Hi Moderators

I do not have any social media except a rather passive Linked-In so I thought to borrow this forum as a notepad for my thoughts in life and investment journey as I approach half century old; to hopefully benefit someone in future. If this is not appropriate pls do let me know

Purpose is to share some ideas that have shaped my thinking and perspective which I hoped someone did the same for me 30 years ago. These are not investment advices and most are not original. Some ideas might seem dumb prima facie but takes time and experience to understand the nuances. I do not aim to be politically correct.

I will pen down as and when I am free or feel inspired

I hope Moderators will allow. I think it can be good sharing that can benefit many. Perhaps let specuvestor give a few shots first?

[specuvestor]

6) I don't buy the idea of making as much mistakes as you can. Life is too short to make mistakes yourselves; learn from others' mistakes
7) There are mistakes so big and irreversible that cannot be made.
8) Mistakes are not wasted if you learn from it. It's tuition fee.
9) Mistakes can be progressive or degenerative; depends what you do next
10) Mistakes are habits if you do it again. Insanity is doing the same thing over and over again and expecting different results -Einstein (sic)

[cyclone]

Hi Moderators

I do not have any social media except a rather passive Linked-In so I thought to borrow this forum as a notepad for my thoughts in life and investment journey as I approach half century old; to hopefully benefit someone in future. If this is not appropriate pls do let me know

Purpose is to share some ideas that have shaped my thinking and perspective which I hoped someone did the same for me 30 years ago. These are not investment advices and most are not original. Some ideas might seem dumb prima facie but takes time and experience to understand the nuances. I do not aim to be politically correct.

I will pen down as and when I am free or feel inspired

It's greatly appreciated.

[specuvestor]

11) There's known knowns, known unknowns and unknown unknowns. We work on the former 2 constraints and if possible hedge the latter.
12) Black Swan is real but overrated. If decision making is based on unknown unknowns civilization would come to standstill.
13) Diff between conviction and overconfidence is what you actually know vs what you think you know
14) Data, Information, Knowledge and Wisdom are not the same thing. Truths are based on facts but facts might not be truths.
15) 知之为知之，不知为不知，是知也 -Confucious

PS good discussion on smart LTCM, what is sensible risk, wealth and other wisdom: https://www.youtube.com/watch?v=2MHIcabnjrA