Around a month ago, I started a YouTube channel - A Simple Life.
Short two-minute videos so far on -
Zen
Trading
Investing
Mindfulness
Financial Freedom
"That man is richest whose pleasures are cheapest."
- Henry David Thoreau
A good book.
A morning walk.
A hot cup of coffee.
A window with a view.
What else?
A few books that have influenced me
1. Personal Finance: Rich Dad, Poor Dad
2. Trading: Trading in the Zone
3. Mindfulness: The Power of Now
4. Philosophy: The Shortness of Life, Letters from a Stoic, Incerto
5. Biography: Snowball on Buffett
6. Life: A Book of Simple Living
Here are my notes and highlights from “Atomic Habits” by James Clear.
The book deals with how to go about developing good habits, one small bit at a time, and letting go of bad ones. It is a well-researched book and a highly engaging read, full of practical solutions. (1/n)
A thread on my notes and highlights from the book "Letters from a Stoic" by Seneca.
Written in around 65 AD, the book is a literary masterpiece, and has had a great influence on me. I try to re-read it at least once a year.
(1/n)
Warren Buffett on IPOs -
"It’s almost a mathematical impossibility to imagine that, out of the thousands of things for sale on a given day, the most attractively priced is the one being sold by a knowledgeable seller (company insiders) to a less knowledgeable buyer (investors).”
"It’s not the employer who pays the wages. Employers only handle the money. It’s the customer who pays the wages."
- Henry Ford
To sum it up, No customers = No wages.
Let's start the year with some basics.
Personal Finance 101
1. Spend less than you earn.
2. Reduce, and finally, eliminate debt.
3. Take responsibility for your money.
4. Practice delayed gratification.
5. Don't look for happiness in material things.
6. Be grateful. Be kind.
We spend large amounts of money on formal education, hoping simply for the opportunity to earn money.
Yet, when it comes to stock markets, we expect to starting earning from day one, from the moment we buy a stock.
Ironic, isn't it?
The market too demands its tuition fees.
A list of books that have influenced me -
1. Personal Finance: Rich Dad, Poor Dad
2. Trading: Trading in the Zone
3. Mindfulness: The Power of Now
4. Philosophy: The Shortness of Life, Letters from a Stoic, Incerto
5. Life: A Book of Simple Living
What's your list?
Personal Finance 101 -
1. Spend less than you earn.
2. Reduce, and finally, eliminate debt.
3. Take responsibility for your money. Invest it.
4. Practice delayed gratification.
5. Don't look for happiness in material things.
6. Be grateful. Be content.
Here are my notes and thoughts on the book “Your Money or Your Life”. The original version was published in 1992 and has been acknowledged as a one of the pioneers for the Financial Independence (FI) movement. An updated version of the book has been released recently. (1/n)
Reading an interview by a prominent PMS Fund Manager stating that 350-400 midcaps, smallcaps can double in price in 2020.
This may happen. This may not happen.
But my main takeaway from the interview is this -
Never ask a barber if you need a haircut.
"The No. 1 reason people fail in life is because they listen to their friends, family, and neighbors."
- Napoleon Hill
True for life. True for investing.
You can read about it.
You can hear about it.
You can see long-term historical charts.
But, there is no substitute for experiencing a market panic yourself.
The Class of 2008 welcomes the Class of 2020 🙂
A list of my favourite personal finance books. The earlier one reads such books, the more useful they can be.
1. Rich Dad Poor Dad
2. The Millionaire Next Door
3. The Richest Man in Babylon
4. Your Money or Your Life
5. Dollars and Sense
If you don't have enough of it, times like these make you realise the importance of money.
If you have enough of it, times like these make you realise the limitations of money.
On
#BookLoversDay
, here are a few books that have influenced me
1. Personal Finance: Rich Dad, Poor Dad
2. Trading: Trading in the Zone
3. Mindfulness: The Power of Now
4. Philosophy: The Shortness of Life, Letters from a Stoic, Incerto by Taleb
5. Biography: Snowball on Buffett
The Personal Finance book that has influenced me the most is Rich Dad Poor Dad.
Two concepts in particular stood out.
1. The definitions of assets and liabilities
2. The house you stay in is not an investment
Which personal finance book has influenced you the most?
Years ago, I came across the 10-10-10 rule.
Whatever you are worried about or deliberating upon, is it going to matter in 10 minutes? 10 months? 10 years?
It helps keep things in perspective and also makes one realise how screwed up our priorities are.
Know what matters.
A student approached a Zen Master (ZM) -
Student: "How long will it take me to gain enlightenment if I join your temple?"
ZM: "Ten years"
Student: "And if I work real hard and double my efforts?"
ZM: "Twenty years"
- The more you seek it, the further it goes away from you.
The books I find myself reading again and again, and learning something new each time.
1. Siddhartha
2. Tao Te Ching
3. The Power of Now
4. Letters from a Stoic
5. On the Shortness of Life
6. The First and Last Freedom
7. Zen and the Art of Happiness
What's your list?
#books
Financial Freedom is not about quitting your job. It is not about retirement
It actually makes you better at your job. A better citizen. A better family guy
Then what is financial freedom about?
The best explanation of financial freedom that I have seen. From an ad in the 60s
Things I would tell the younger me if I could go back in time.
- Fail more often
- Travel more
- Put just enough effort in school so to get by
- Don't take life too seriously
- You don't matter. Enjoy that!
What advice would you give to your younger self, if any?
Power - ability to make others do what you want
Freedom - ability to make yourself do what you want
Yet, so many of us choose power over freedom everyday.
A list of my favourite personal finance books. The earlier one reads such books, the more useful they can be.
1. Rich Dad Poor Dad
2. The Millionaire Next Door
3. The Richest Man in Babylon
4. Your Money or Your Life
5. Dollars and Sense
A bull market converts long term investors into traders.
A bear market converts traders into long term investors.
That's just the way market cycles go.
If New Zealand's handling of the covid crisis has taught us anything, it is that empathy is the most important trait in leadership.
Respect for their leadership.
And respect for their people, for electing such a leader.
If you are feeling anxious and worried, I would highly suggest picking up any of the books by Thich Nhat Hanh.
I promise that you will lose yourself in the present moment.
You will find yourself in the present moment.
A thread on some of his quotes that inspire me.
(1/n)
"When you arise in the morning think of what a privilege it is to be alive, to think, to enjoy, to love...”
― Marcus Aurelius (AD 121 - 180)
Gratitude.
"That man is richest whose pleasures are cheapest."
- Henry David Thoreau
A good book.
A morning walk.
A hot cup of coffee.
A window with a view.
What else?
A thread consolidating all the books reviewed by me on Twitter so far.
Let's start with the book that has influenced me the most. It's not just a book, it is a way of life.
1. "Letters from a Stoic" by Seneca - written in 65 A.D.
A thread on my notes and highlights from the book "Letters from a Stoic" by Seneca.
Written in around 65 AD, the book is a literary masterpiece, and has had a great influence on me. I try to re-read it at least once a year.
(1/n)
You CAN'T consistently sell at the top and buy at the bottom.
Accept it.
You will save yourself a lot of mental anguish if you accept this simple fact.
The stock will continue to fall after you buy it. The stock will continue to rise after you sell it.
Make your peace with it
Financial Freedom can't be the ultimate goal.
Say, you achieve it at the age of 40. Then what? What after that?
It's a milestone in the journey. A significant milestone, but not the destination. A means, but not the goal.
#FinancialFreedom
9-to-5 has the power to suck the life out of you if you are not careful.
Be very wary! Don't seek your identity in your job.
It's a means to make a living; don't make it your life.