« you really just have to find your passion in life. Warren says to find the the job you would do if you didn’t need a job. The earlier you find that, the better – because it won’t seem like a chore to follow your dream, and you’ll outwork everyone in the process. Don’t be afraid to fail. In fact, you kind of want to fail early and often because it doesn’t cost you much when you’re young – and you learn a lot more from failure than success. »
I found it reading this good BBG article on how Combs was a key in setting up the partnership between Berkshire Hathaway,Amazon and JPMorgan.
If you haven’t read Mosaic or The Dhandho Investor, I encourage you to do so. Pabrai has a unique way of describing his philosophy as a value investor. Of course, there’s a lot in common with Buffett, Munger and many other investors, but his books are really a good read.
A word of caution from Morgan Stanley’s equity strategists:
« The latest burst of Tech outperformance has not been accompanied by superior EPS trends. Just now Tech shows few signs of stopping (or even slowing); for example: i) post its largest 1m outperformance versus the S&P since 2012, the NASDAQ is now 2.7SD above its 12M relative average; ii) 80% of constituents of MSCI ACWI’s IT index outperformed the market over the last month, the highest breadth reading since 2003. Amid all this euphoria we’d encourage investors to keep a close eye on EPS trends as the latest burst of price outperformance has not been accompanied by EPS outperformance. »
I like finance AND music. Music is very important to me and I think it helps a lot in life. I’m a big fan of rock music, but I also like jazz and classical. So from time to time I’ll post musical stuff. Hope you like it. Best.
I’ve never seen a great composer/director be so kind and easy at explaining music. I wish we had more like him.