Random Chat, Thoughts, Posts, and/or Rants Thread

[Guest-5ty5s4]

“I would rather have questions that cannot be answered than answers that cannot be questioned.” - Richard Feynman

(tRusT tHe ScIeNcE)

 

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[jdm667]

Charlie Munger was alive during the Stock Market crash of 1929 and the subsequent Great Depression.

He's currently outperforming almost everyone, including people like Cathie Wood... Just sticking to the fundamentals

Scary to think about: all of the Wall Street guys under 34 years old have never worked during a 50% down market like we had in 2008/2009.

Munger has learned from those types of experiences (multiple times) ... the young guys have not.

I am curious to see how they do in such a market.

 

[Kak]

Scary to think about: all of the Wall Street guys under 34 years old have never worked during a 50% down market like we had in 2008/2009.

Munger has learned from those types of experiences (multiple times) ... the young guys have not.

I am curious to see how they do in such a market.

Even worse, what about wealthy boomers that have their money with a millennial manager?

I don’t trust anyone with my money anymore. That’s the primary reason I started self directing. I had JP Morgan private banker BS and it was just a pig with a TON of lipstick.

 

[Guest-5ty5s4]

Even worse, what about wealthy boomers that have their money with a millennial manager?

I don’t trust anyone with my money anymore. That’s the primary reason I started self directing. I had JP Morgan private banker BS and it was just a pig with a TON of lipstick.

I realized at a young age that it was silly to pay someone to manage my money when I could do it self directed and pay nothing (aside from a near 0% fee on some etfs)... AND take better care of it.

Those advisors don't get you "outsized returns." They plop your money into a fund just like you can do yourself, and they take out hefty fees for the privilege.

 

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[Kak]

I realized at a young age that it was silly to pay someone to manage my money when I could do it self directed and pay nothing (aside from a near 0% fee on some etfs)... AND take better care of it.

I realized when my manager basically told me-

Aggressive= 80% Stocks, 20% bonds
Moderate= 50/50
and Conservative was like 30/70 (can't remember)

That AOK, AOM and AOA iShares ETFs would do the EXACT SAME THING with NO REBALANCING tax implications.

JPM needs to beat those ETFs by a MINIMUM of 1.85% every year just to justify the fees... And that doesn't even count the rebalancing tax costs.

The short answer, they won't.

For the average person it may feel weird to just slam every dollar you have into 1 single ETF, but those three are basically what you pay big money for at a "prestigious" bank.

 

[Kak]

I realized at a young age that it was silly to pay someone to manage my money when I could do it self directed and pay nothing (aside from a near 0% fee on some etfs)... AND take better care of it.

Those advisors don't get you "outsized returns." They plop your money into a fund just like you can do yourself, and they take out hefty fees for the privilege.

At the time, I thought I was busy with a multi-billion dollar startup and managing my money for 2% a year was ignoring my core competency to pick up pennies.

As I have worked my time out of my ventures, pruned the losers, and and invested more money, it is making more sense to spend a few hours a week on it.

 

[Sander]

How come every app builder now a days are building to-do list tools?

 

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[Madame Peccato]

Productivity is the new buzzword. Gotta be "more productive" with a million to-do lists. Whatever that means. Pen and paper isn't cool anymore apparently.

 

[MTF]

Productivity is the new buzzword. Gotta be "more productive" with a million to-do lists. Whatever that means. Pen and paper isn't cool anymore apparently.

The joke is that the more you focus on productivity, the less productive you are because you spend more time managing productivity tools/techniques than getting shit done.

 

[Mathuin]

Productivity is the new buzzword

I can't stand all those "productivity gurus" on YouTube.

 

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[Kak]

Productivity is the new buzzword. Gotta be "more productive" with a million to-do lists. Whatever that means. Pen and paper isn't cool anymore apparently.

The joke is that the more you focus on productivity, the less productive you are because you spend more time managing productivity tools/techniques than getting shit done.

I can't stand all those "productivity gurus" on YouTube.

Agreed... It focuses on the wrong thing...

Your personal productivity, while needed, is not as important as organizational productivity.

What can your organization preform in your name? This can be a combination of strategic partnerships, manufacturing agreements, employees, automation, ETC... But it skews the owner's hourly income to the stratosphere.

When a deal closes without one moment of input from the owner... That's real "pRodUctivitY."

 

[Mathuin]

Agreed... It focuses on the wrong thing...

Your personal productivity, while needed, is not as important as organizational productivity.

What can your organization preform in your name? This can be a combination of strategic partnerships, manufacturing agreements, employees, automation, ETC... But it skews the owner's hourly income to the stratosphere.

When a deal closes without one moment of input from the owner... That's real "pRodUctivitY."

Felix Dennis has a good take on this in 'How To Make Money'. States the work undertaken by your colleagues and employees is more important than your work and it's undisciplined to let yourself fall into the trap of working like a Trojan.

 

[Kak]

The Karen…

 

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[Lex DeVille]

View attachment 41884

The Karen…

The story of Netflix

 

[Guest-5ty5s4]

View attachment 41884

The Karen…

This reminds me of every single super hero and blockbuster movie in the last 5 years

 

[Antifragile]

 

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[Guest-5ty5s4]

Starting or buying a business - which one do you prefer and why?

I was going to start a thread on this but it seemed like a stub of a post. Just one simple question or poll.

 

[Kak]

Starting or buying a business - which one do you prefer and why?

I was going to start a thread on this but it seemed like a stub of a post. Just one simple question or poll.

Probably starting, because everyone brings their own flavor of eccentricities to a business, I know how to deal with mine, but I don’t want someone else’s.

 

[jdm667]

Starting or buying a business - which one do you prefer and why?

I was going to start a thread on this but it seemed like a stub of a post. Just one simple question or poll.

Starting.

Logically, I know it is probably better to buy an established business with a proven track record (solid profit, follows CENTS) and business model.

However, I like to do things my way, and that includes how the business is built and run. Someone else's SOPs that make no sense would drive me crazy.

 

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[WillHurtDontCare]

Live in a cool place near cool things in your 20s. That will help you meet and socialize with interesting & smart people.

 

[Mammoth]

 

[Antifragile]

Was @Simon Angel banned from the forum over the rants in the copywriting thread? I thought I saw a “goodbye” thread that disappeared while I was traveling and checked in again. @thechosen1 replied?

All rants go here folks!

 

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[Xavier X]

The joke is that the more you focus on productivity, the less productive you are because you spend more time managing productivity tools/techniques than getting shit done.

Reminded me of this

View: https://www.youtube.com/watch?v=j5mqbKs1PoI

 

[Guest-5ty5s4]

Was @Simon Angel banned from the forum over the rants in the copywriting thread? I thought I saw a “goodbye” thread that disappeared while I was traveling and checked in again. @thechosen1 replied?

All rants go here folks!

I have no idea. I ignore almost everything on copywriting but I replied to his “goodbye thread” to encourage him to stay.

 

[Antifragile]

I have no idea. I ignore almost everything on copywriting but I replied to his “goodbye thread” to encourage him to stay.

Good on you. I don’t like people leaving over a little squabble. And I appreciate diverse opinions. Hope he stays.

 

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[GPM]

I have been showing my not-quite-two year old son videos of truck convoys the last few days. He excitedly shouts "Truck! Truck!" the whole time.

I guess he decided to make his own convoy! I am happy that he is excited about this, even though he does not yet understand.

I am hopeful that this means he can have all the things a child deserves. They deserve to see other children's faces. They deserve to play at parks. They deserve to be able to play with other children they see at the grocery store and the mall without their parents pulling the other children back in terror. They deserve to visit Grandma and Grandpa whenever they want, without their parents fear of being ticketed by the government. They deserve their childhood.

What scares me is children having to grow up without ever seeing facial expressions outside of their own home. It is time people stopped being terrified and started living again.

 

[MJ DeMarco]

He was not banned, only he was banned from the the copywriting thread when he thought relentless ad hominem attacks was a good way to prove his argument. His departure thread was deleted, If the forum no longer works for anyone, it is unnecessary to post some grand proclamation of your exit, you simply leave and never return. Or message the forum and request an account deletion.

 

[MJ DeMarco]

fyi if suddenly don’t seem to be around for the next few days…

HOT! - IDEA - Great opp? Medical: Mobile IV Service

So I've been sick in bed for the last 5 days (non COVID, likely the flu) and it was probably the worst I felt in my life. First, I rarely get sick. Second, I vomited several times which for me is unusual -- in my 52 years of life on this planet, I've only vomited 2 times due to sickness. Now...

www.thefastlaneforum.com

 

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[Antifragile]

Get well soon @MJ DeMarco
Sending healing vibes your way.

 

[Andy Black]

Starting or buying a business - which one do you prefer and why?

I was going to start a thread on this but it seemed like a stub of a post. Just one simple question or poll.

Starting. I like figuring stuff out.