There is only wisdom in crowds if each individual comes to their conclusion independently.

Karma is real because habits and consequences are real. Bad habits will continue until negative consequences are eventually met. The longer that takes the worst the consequence will be as bad habits continue and worsen with each missing feedback.

Habits shape character, and character determines karma.

The bull case will always sound good, but make sure you proactively learn what the bear case is too.

Fundamentals are the most important factor. Technical analysis should only be used to help time entries and exits based on whether something is undervalued or overvalued.

Mistakes are mainly made due to lack of long-term thinking, greed, or laziness.

Survive long enough for luck to hit.

Using the past to predict the future is fragile, but using it to learn how to survive is robust.

If you can be early then you don't need to be that smart. Being early allows you to risk less to gain more. If you're late then you better be sure you're smart.

Don't try to predict, just make sure you have exposure.

To become wealthy you need to own the reserve asset. To own the reserve asset you have to either work for it or buy it. Right now you can buy it at a discount. In the future you’ll have to work very hard for it.

Be careful of crowded trades. Once there are no more buyers or sellers, prices can change direction fast.

Success depends largely on luck. Survival depends largely on prudence.

Ability to survive well through chaos is much more impressive than attaining wealth. One depends largely on humility and prudence while the other depends largely on risk-taking and luck.

The masses will never be satisfied because they will always want what they don’t have.

Best time to buy is during peak fear/disinterest in the whole sector. Best time to sell is during peak euphoria/interest in the subsector.

Sell when any of the below happens: 1) peak euphoria 2) bull case event occured 3) becomes too big of portfolio

Parabolic rises are unsustainable because it’s easy for existing holders to sell but hard to convince new people to buy.