I probably spent more time on this The Motley Fool article than anything I've written in 10 years. It addresses a simple question: How Much Is Enough? fool.com/investing/2019… H/T Morgan Housel (idea of Enough), Sonja Lyubomirsky (How of Happiness), Nassim Nicholas Taleb (via negativa)

Manifesto: 21 Rules to Live Your Life by Miyamoto Musashi Thread

Don't tell me what books you read, tell me the ones you reread.

1/ Get a cup of coffee. In this thread, we'll analyze the "Devil's Card Game". This is a super useful thought exercise. It can teach us several key concepts in economics, probability, betting, hedging, investor/market psychology, etc.

1/ Get a cup of coffee. In this thread, I'll walk you through a framework that I call "Lindy vs Turkey". This is a super-useful set of ideas for investors. Time and again, these ideas have helped me think more clearly about the LONGEVITY of the companies in my portfolio.

“We worry top-down, but we invest bottom-up.” – Seth Klarman