"If you sit down with an orangutan and carefully explain to it one of your cherished ideas, you may leave behind a puzzled primate, but will exit thinking more clearly yourself."
Teaching others actually teaches yourself.
2022
I devoured 50 years of Warren Buffett shareholder letters.
The result?
12 timeless principles from the greatest investor in the world.
Here are the golden nuggets🧵
"If you sit down with an orangutan and carefully explain to it one of your cherished ideas, you may leave behind a puzzled primate, but will exit thinking more clearly yourself."
Teaching others actually teaches yourself.
2022
“A horse that can count to ten is a remarkable horse - not a remarkable mathematician.”
Beware your comparison set.
Are you judging crappy relative performance or absolute results?
1985
The business boat you get into is more important than how effectively you row.
“When a brilliant management team tackles a business with a reputation for poor fundamental economics, the reputation of the business usually stays intact.”
1985
"Good performance should be rewarded whether Berkshire stock rises or falls.
Average performance should earn no special rewards even if our stock soars."
Judge for individual performance or risk free riding on group success.
1986
Everyone tries to predict the future.
But it's a loser's game.
Instead of predicting rain, focus on building the Ark.
The Ark is a durable business that can weather the storm.
1981
Can you be content doing nothing?
"It has struck me that all men’s misfortunes spring from the single cause that they are unable to stay quietly in one room.”
- Blaise Pascal
1982
An exec team achieved the most elusive goal:
"Keeping things simple and remembering what you set out to do."
The bigger the project, the more we need a reminder of the goal and simple things to execute today.
1982
1) Consistent earning power: future projections are useless
2) Good returns on equity with little or no debt
3) Management in place: we can’t supply it
4) Simple businesses: if there’s lots of tech, we won't get it
1985
"If we hire people who are smaller than us, we become a company of dwarfs.
But, if we hire people who are bigger than us, we become a company of giants."
Great hiring makes you the dumbest in the room.
1987
Buy businesses with superstar managers.
"If we did more business operating, less would be accomplished.
Instead, get out of the way.
If you coach a basketball team with Lebron James, don't tell him how to dribble the ball.
1988
"Berkshire is my first love and one that will never fade:
At Harvard Business School last year, a student asked me when I planned to retire and I replied,
"About five to ten years after I die."
1998
"Good jockeys will do well on good horses, but not on broken-down nags."
It doesn't matter how good you are.
Pick the wrong market or a bad business model and you fail.
What you work on matters more than anything else.
1990
And thanks @tegusHQ for sponsoring this thread and being the best tool for investors and Corporate Development teams to get smart on any business.
https://t.co/I9qAwfJwij
I devoured 50 years of Warren Buffett shareholder letters.
— Chris Hladczuk (@chrishlad) February 27, 2022
The result?
12 timeless principles from the greatest investor in the world.
Here are the golden nuggets\U0001f9f5
And join 9,000+ others to get free threads to your inbox every week:
https://t.co/40QGb1e9GG
More from Chris Hladczuk
If you use it right, Google is the most powerful tool in the world.
But the truth is most people suck at it.
Here are 8 Googling tips that you probably don't know👇
"Quotation markets"
Put quotes around search terms to let you search exactly for that word.
All results will have your terms in it.
Example: "James Clear"
Gives you all James Clear search results without just "James" or just "Clear".
- Dashes
If you want to exclude a term from your search, include a hyphen before that word.
Example: dolphins-football
You just want dolphins the animal not dolphins the professional football team.
~ Tilde
Use tilde when you want synonyms to appear in the result.
Example: music ~classes
Here you only get music classes, lessons, coaching, etc.
Site:
Use this to search within a specific website only.
Example: Kevin Ryan site:chrishlad..com
This searches for Kevin Ryan mentions on my website (chrishlad dot com).
But the truth is most people suck at it.
Here are 8 Googling tips that you probably don't know👇
"Quotation markets"
Put quotes around search terms to let you search exactly for that word.
All results will have your terms in it.
Example: "James Clear"
Gives you all James Clear search results without just "James" or just "Clear".
- Dashes
If you want to exclude a term from your search, include a hyphen before that word.
Example: dolphins-football
You just want dolphins the animal not dolphins the professional football team.
~ Tilde
Use tilde when you want synonyms to appear in the result.
Example: music ~classes
Here you only get music classes, lessons, coaching, etc.
Site:
Use this to search within a specific website only.
Example: Kevin Ryan site:chrishlad..com
This searches for Kevin Ryan mentions on my website (chrishlad dot com).
More from Finance
Having made over 1000 boxes for vulnerable families in Cambridge via @RedHenCambridge (thanks to our customers 🙏🏽) My thoughts on the £30 box thing. Lots of factors at play here. 1/
If the pics in this @BootstrapCook thread are true and correct then the Govt/taxpayers & families in need are getting absolutely SHAFTED 👇🏽 2/
There are some mitigating circumstances. A £30 box won’t ever contain £30 (retail) worth of food - people aren’t factoring in
-the cost of the box
-paying someone to fill it
-rent & rates
-& most expensive the *transport/distribution*
3/
If you’re doing the above at scale. Delivering *across the UK* it’s not cheap BUT IMHO there should be at LEAST £20 worth of groceries in a £30 box. To get more value they need more fresh produce. Just carrots & apples is terrible. 4/
I’m gonna put my rep on the line here & say something about these big national catering companies whose names I’ve seen mentioned. They are an ASSHOLE to deal with & completely shaft small businesses like mine with their terms which is why I won’t deal with them. 5/
If the pics in this @BootstrapCook thread are true and correct then the Govt/taxpayers & families in need are getting absolutely SHAFTED 👇🏽 2/
Hi all. I\u2019ve been sent LOTS of photos of the food parcels that have replaced the \xa330 vouchers and asked what I would do with them. I\u2019m replying with advice privately because to do so publicly would look like justifying these ill thought through, offensively meagre scraps /1.
— Jack Monroe (@BootstrapCook) January 11, 2021
There are some mitigating circumstances. A £30 box won’t ever contain £30 (retail) worth of food - people aren’t factoring in
-the cost of the box
-paying someone to fill it
-rent & rates
-& most expensive the *transport/distribution*
3/
If you’re doing the above at scale. Delivering *across the UK* it’s not cheap BUT IMHO there should be at LEAST £20 worth of groceries in a £30 box. To get more value they need more fresh produce. Just carrots & apples is terrible. 4/
I’m gonna put my rep on the line here & say something about these big national catering companies whose names I’ve seen mentioned. They are an ASSHOLE to deal with & completely shaft small businesses like mine with their terms which is why I won’t deal with them. 5/
