BC WISE INVESTING
Saved by @AnmolNarula11

What a privilege it was to host @Gautam__Baid for my first ever Twitter Spaces event along with @dadalife369 and @Finvents.

While we wait for the YouTube recording. Here are 8 of my biggest takeaways from today's session.

#investing

 1 - Start by coming up with a portfolio allocation strategy based on your aims and objectives for investing. Include flexibility, tracking and rebalancing as part of your strategy.
2 - Learn from those who succeeded before you to ultimately develop your own investing style

Here are three books that influence @Gautam__Baid's investing style - They are some of the best books in investing along with Gautam's The Joys of Compounding.
3 - Develop a robust repository of sources from which you can generate investment ideas.

Here are the ones @Gautam__Baid uses.

It is a super-comprehensive list.
4 - Focus on the process as opposed to the outcomes. This is very important.

Developing a superior process leads to the repeatability of exceptional outcomes.
5 - Build a powerful investment framework where you can combine different metrics and processes while integrating what you have learned from your own experience into it.

Example - @Gautam__Baid's multi-pronged approach to idea generation and validation.
6 - Avoiding a few basic red flags can go a long way.

Here is @Gautam__Baid's list of things to avoid.
7 - Analysing a company's management is one of the most important things one needs to do as an investor.

Here is @Gautam__Baid's checklist that makes this job a bit more process-driven and easier to execute.

https://t.co/ROZ6k8DTy8

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when a stock you own becomes expensive, you rationalize holding on by calling it a compounder. base rate says v v few stocks are real compounders , rest are just pigs with lipstick.
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Your view of the world and markets can change significantly when you close out your derivative positions and trading/leveraged trades v/s only hold a delivery-based portfolio.

The reason is psychological. The quick gains and losses that leveraged trades bring make you react with the same emotions you do in a regular portfolio at a faster rate. So what a 30% drawdown would make you think on a delivery portfolio ends up happening in days.

Suddenly you will find it easier to believe that negative conspiracy theory-based video or blog post than you would have otherwise.

It is therefore always a good idea to have an investment portfolio outside your trading positions to help you keep perspective of the big picture and ask the right questions.

The trading then is a subset of the big picture. Bull market cycles often go on for years and go through many bouts of hope and fear themselves. But stocks hold out better making higher highs and lows as long as the trend is intact.
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The worst thing that you can learn as an investor early in your journey is to take a reckless risk without much research, and make money

It would take you a lot of time and effort to unlearn that easy money exists in the markets
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Anish Moonka
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What if I told you to submit your PhD report by the 1st year of your BTech in engineering.

That’s what people do when they try to find multi-baggers in their 1st business cycle.
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The Disciplined Investor
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Ben Graham:

The success of an investment ultimately depends on the future developments but they can never be forecasted with accuracy.

But if you have precise information about a company's present situation, then you are better equipped than others in understanding the future.

The first step to understanding the present situation of any company is to correctly understand and interpret its financial statements:

Cash Flow Statements,
Balance Sheet and
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Post partition, every morning a weak old woman would board the Model Town bus service headed to the city. The conductor never asked her for money or he would invite anger of the last Queen of Punjab.

1/n


Princess Bamba Sutherland, the eldest daughter of Maharaja Duleep Singh and grand-daughter of Maharaja Ranjit Singh, was born on Sep 29, 1869, in London.

Duleep Singh, the last Maharaja of Punjab was taken away to England by British after annexing Punjab.

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Since he was still a child he was forcibly converted to Christianity and made to adopt British values in order to prevent him from ever thinking about regaining Punjab.

He was also kept away from his mother Maharani Jindan.
When he finally met his mother years later...

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...he was told about his lost kingdom and religion after which he decided to reclaim it from British treachery.
During his struggle he married and had six children, 3 sons & 3 daughters from the 1st marriage.

Bamba was the most colorful character among 6 and was a rebel...
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...like her father and daring like her Grandfather Ranjit Singh. She married Col Sutherland who later became principal of King Edward Medical College.

When she got permission to bring her grandmother Maharani Jindan's ashes to Lahore in 1924, she saw a huge crowd gathered...
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THREAD: 12 Things Everyone Should Know About IQ

1. IQ is one of the most heritable psychological traits – that is, individual differences in IQ are strongly associated with individual differences in genes (at least in fairly typical modern environments). https://t.co/3XxzW9bxLE


2. The heritability of IQ *increases* from childhood to adulthood. Meanwhile, the effect of the shared environment largely fades away. In other words, when it comes to IQ, nature becomes more important as we get older, nurture less. https://t.co/UqtS1lpw3n


3. IQ scores have been increasing for the last century or so, a phenomenon known as the Flynn effect. https://t.co/sCZvCst3hw (N ≈ 4 million)

(Note that the Flynn effect shows that IQ isn't 100% genetic; it doesn't show that it's 100% environmental.)


4. IQ predicts many important real world outcomes.

For example, though far from perfect, IQ is the single-best predictor of job performance we have – much better than Emotional Intelligence, the Big Five, Grit, etc. https://t.co/rKUgKDAAVx https://t.co/DWbVI8QSU3


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According to psychologists, there are four types of intelligence:

- Intelligence Quotient (IQ)
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- Adversity Quotient (AQ)

1. IQ is the measure of one's ability to comprehend, solve maths; memorize things & recall subject matters.

2. EQ is the measure of your ability to maintain peace with others; keep to time; be responsible; be honest; respect boundaries; be humble, genuine, and considerate.

3. SQ is the measure of one's ability to build a network of friends & maintain it over a long period of time.

4. AQ is the measure of your ability to go through a rough patch in life and come out without losing your mind. It is a new paradigm and can be used to determine who will give up in face of troubles and may abandon their families.

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People that have higher EQ & SQ tend to go further in life than those with high IQ but low EQ &SQ.

Most schools capitalize on improving IQ level while EQ & SQ are played down.

A man of high IQ can end up being employed by a man of high EQ & SQ even though he has an average IQ.

Your EQ represents your character; your SQ represents your charisma. Give in to habits that will improve these three Qs but more especially your EQ and SQ.

EQ and SQ make one manage better than the other.

Try not only to have a higher IQ but also to have higher EQ and SQ.
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I think we as an industry celebrate (not quite the right word) failure too much and don't celebrate success nearly enough. There is no DailyWTF for competent execution, word of which generally stays pretty local to the source while incompetence passes into legend.

Alrighty let me try to thread the needle on being the change I want to see in the world while not giving away anything that will get me in trouble:

Ruby has wonderful developer ergonomics. Typed languages are easier for machines to guarantee the correctness of. We built a type checker for Ruby (and I believe it is slated for OSS release sometime).

c.f.
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