@edborgato
Investor. Practitioner of the speculative arts. πΉ-positive. No permanent opinions. Reason, objectivity, and evidentiary argument are moral imperatives. Behave accordingly. Member of the Finance Twitter diaspora.
"What if beliefs didn't evolve to be true, but to be useful?"
This is a terrific conversation with Sam Harris; it will resonate with anyone who aims to make contact with what's true.
podcasts.apple.com/us/podcast/i...
Fintwit archive, 2013.
Munger: "The whole trick in life is to get where your own brain doesn't mislead you."
Fintwit archive, 2021.
Fintwit archive, 2019.
Play winnable games.
Fintwit archive, 2018.
A useful non-financial lesson I've learned from Warren's example is that the world isn't waiting for my opinion on every topic. I'm slow-thinking anyway; it takes a while for me to form a view on complex subjects.
Greg Abel hit all the right notes in his first letter to $BRKA shareholders. Still, a bit of melancholy, as that annual winter communion with Warren's letter is gone.
Had this been posted a month ago, Anthropic might have used it in a Super Bowl ad.
Fintwit archive, 2017.
Fintwit archive, 2016.
Fintwit archive, 2015.
Just checking in on you guys.
"We don't really get caught up with what other people are doing." -- WB describing his and Charlie's edge.
Capturing the full economics over time of a good idea is so much harder than finding a good idea.
Fintwit archive, 2013.
Little did he know...
Fintwit archive, 2019.
Fintwit archive, 2017.
Intensity is overrated; consistency, underrated.
Happy Super Bowl Day π.
The Super Bowl is a great American secular holiday. Itβs one of the few cultural events we all do together.
Those who want us worked up over who entertains at halftime are playing the country for fools. Not every trivial aspect of life need be political.
Have fun today.
When you've been around markets for this long, it's hard not to feel some regret over the cost of wasting time, effort, and stress over things that didn't matter. Slowly, I got smarter, and yet, school is never out.
<---- Remembers DOW 1950.
Kindness, or at a minimum, basic decency, is a component of character. One has those things, or they do not.
Given enough time, whether someone has or doesn't have good character becomes a less interesting question than why so many people can't tell, or don't care.
$BTC's existence proved the computer science of a decentralized digital ledger, even if the $BTC itself was no more than a speculative instrument, a vehicle for acquiring USD (nothing more). That was the point. The story/mania/mythology of $BTC tested the ledger. The tech has utility; $BTC does not.
On top of all this, $BTC is most certainly losing share to stablecoins for both criminal and legitimate foreign transfers. Volatility has been tolerated as a privacy tax, but with USD-backed stablecoins available, why use $BTC at all?