The Complete TurtleTrader: How 23 Novice Investors Became Overnight Millionaires
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The Complete TurtleTrader: How 23 Novice Investors Became Overnight Millionaires
Even if their forecasts were true (they aren’t), no individual can get the same returns as the market unless he has infinite pockets and no uncle points. This is conflating ensemble probability and time probability. If the investor has to eventually reduce his exposure because of losses, or because of retirement, or because he got divorced to marry
... See moreNassim Nicholas Taleb • Skin in the Game: Hidden Asymmetries in Daily Life
Poor Charlie’s Almanack: The Essential Wit and Wisdom of Charles T. Munger
Warren Buffett • 1 highlight
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Most of the best deals that we have done would not have survived the scrutiny of a partnership.
Tarang Shah, Tarang Shah, Sheetal Shah • Venture Capitalists at Work: How VCs Identify and Build Billion-Dollar Successes
The great art dealers operated like index funds. They bought everything they could. And they bought it in portfolios, not individual pieces they happened to like. Then they sat and waited for a few winners to emerge.