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My highlighted passages from The Psychology of Money by @morganhousel. Thread below

1. The 401k - the backbone savings vehicle of American retirement - did not exist until 1978. The Roth Ira was not born until 1998. If it were a person it would be barely old enough to drink

2. NYU professor Scott Galloway has a related idea that is so important to remember when judging success - both your own and others': "Nothing is as good or as bad as it seems."

3. Margin of safety - you can call it room for error or redundancy

4. "Every job looks easy when you're not the one doing it because the challenges faced by someone in the arena are often invisible to those in the crowd."

5. "The average equity fund investor underperformed the funds they invested in by half a percent per year, according to Morningstar - the result of buying and selling when they should have just bought and held."

FEAR - It’s the re-experience of failure in advance.

Many traders face the issue of Not entering in trades because of fear.

A thread on How to pull the trigger when the opportunity knocks.

Lets First start from knowing the cause of this "FEAR" of pulling the trigger.

A traders goes through many phases before becoming Profitable.

The first phase is the " APUN HI BHAGWAN HAI" phase-

When we first begin Trading, we don’t know any concepts, we don’t know about the risks , the dangers.

So we start trading, and like most guys by beginners luck we start making good, we start to calculate how much money we will make in next 1yr, 5 yrs, Greed start to Hop in.

We get introduced to Various instruments, F&O, LEVERAGE.

We take big positions as we don’t have any FEAR cause we haven't seen those bad phases yet.

Now we get the Big blow, account down -50%, or in many cases wiped out.

The first phase ends here.

Now we know How the market can kick our ass, we now know the risk that comes with those big positions.

"THE LEARNING PHASE"-

Now we know that we were just lucky initially and now we have to learn why we get those losses, so we start learning concepts , fundamental, Technicals.

A frequent question I get when talking with senior designers: Will my growth as a designer stall if I start managing?

There is often a second question underneath that, which is:
Will I no longer be respected as a design leader if I can't keep up as a designer?

Thread below👇

My short answer to "Will my growth as a designer stall if I manage?" is yes, absolutely, if "designer" is someone who produces design work.

Managing a 5-8 ppl team does not leave you time to design. When you don't practice a craft, you should not expect to get better at it.

However... (and this is a BIG however)...

What you *can* continue to grow (as both a design manager and a designer) is the following:

1) Your design eye
2) Your design voice

A strong design eye means that others trust you to know what is good.

It means your taste is well-honed through extensive study of an area.

It means your sense for usability, simplicity and aesthetics is well-developed even at subtle or fine granularities.

Very early in my design career, my manager asked me to review some design portfolios. I sat there, petrified, clicking through dozens of links. I could tell which ones were really bad, but many of the portfolios seemed good! I could not really distinguish between them on quality!

10 Red flags to note in relationships .

A thread !

1. Secrecy - There is a difference between being private and being secretive . Anyone who doesn’t want people to know you are dating may have somethings they are hiding . It’s ok to be private but alarm bells should ring where there is secrecy .

2. Barter - The relationship is almost always about what is being exchanged . While there will be exchanges in every relationship, an undue focus on this will indicate that someone is there for something they can get and not what they can give .

3. Misaligned values - What is sacred to you isn’t respected by the other .values like honesty , integrity , respect isn’t important to the other party . A relationship with nonaligned values cannot work ! There will always be conflict .

4. Mystery income - Some folks are dating thieves , robbers and fraudsters and always have signs to indicate that their partners are fraudulent. It is a huge red flag not to know what your other half actually does for money . It’s not wise to join a sinking boat .