THREAD, PM EXIT STRATEGY

I sometimes get the question “At what price do I liquidate my PM portfolio?” The short answer is:

A) I´ll never sell all of it

and

B) I don´t have a PT. I could start selling at $1900 or at $100000, it depends.

For the longer explanation, 👇

Albert Einstein once famously said “Everything is relative”. I find that quote very useful in the world of investing as well.

First off, my preferred style of investing is more influenced by macro than micro (macroeconomics vs company specific).
That means I often buy a commodity, an ETF or a basket of companies operating in the sector of interest.

I frequently look at certain ratios, or said another way, instrument X relative to instrument Y.
By analyzing historical data, I´ve set up different “ratio milestones” for when history tells me to start unwinding the ratio. As these milestones are triggered, I sell 25% of the relatively stronger instrument. For every additional 10% skew in the ratio, I sell another 25% etc.
This means I´ll never pick the absolute top nor the bottom, but I should extract much of the value while keeping my emotions out of it.

An example where this principle is adopted is shown in the Gold/Silver ratio -graph below.
By shifting the milestones to 70 and 50 you´ll get the reasoning behind it.

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The One with Free Cash Flow Explained


The One with Mutual Funds


The One on Laurus Labs
Having a finance degree did not make me a better investor.

Rather, I learned 10x more about investing from Twitter University.

🧵 Here are 5 threads from world-class Fintwitters.

What you learn: Build an investing checklist.

From: @BrianFeroldi, writer at Motley


What you learn: Read 10Ks like a Hedge Fund

From: @FabiusMercurius


What you learn: Perform a DCF analysis.

From: @10kdiver


What you learn: When to sell your stocks

From: @borrowed_ideas, founder at

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1/ Here’s a list of conversational frameworks I’ve picked up that have been helpful.

Please add your own.

2/ The Magic Question: "What would need to be true for you


3/ On evaluating where someone’s head is at regarding a topic they are being wishy-washy about or delaying.

“Gun to the head—what would you decide now?”

“Fast forward 6 months after your sabbatical--how would you decide: what criteria is most important to you?”

4/ Other Q’s re: decisions:

“Putting aside a list of pros/cons, what’s the *one* reason you’re doing this?” “Why is that the most important reason?”

“What’s end-game here?”

“What does success look like in a world where you pick that path?”

5/ When listening, after empathizing, and wanting to help them make their own decisions without imposing your world view:

“What would the best version of yourself do”?
@franciscodeasis https://t.co/OuQaBRFPu7
Unfortunately the "This work includes the identification of viral sequences in bat samples, and has resulted in the isolation of three bat SARS-related coronaviruses that are now used as reagents to test therapeutics and vaccines." were BEFORE the


chimeric infectious clone grants were there.https://t.co/DAArwFkz6v is in 2017, Rs4231.
https://t.co/UgXygDjYbW is in 2016, RsSHC014 and RsWIV16.
https://t.co/krO69CsJ94 is in 2013, RsWIV1. notice that this is before the beginning of the project

starting in 2016. Also remember that they told about only 3 isolates/live viruses. RsSHC014 is a live infectious clone that is just as alive as those other "Isolates".

P.D. somehow is able to use funds that he have yet recieved yet, and send results and sequences from late 2019 back in time into 2015,2013 and 2016!

https://t.co/4wC7k1Lh54 Ref 3: Why ALL your pangolin samples were PCR negative? to avoid deep sequencing and accidentally reveal Paguma Larvata and Oryctolagus Cuniculus?