1/12 🧵”The Joys of Compounding” by @Gautam__Baid is an essential read for every investor. Packed with timeless wisdom, the book teaches the art of value investing and the power of compounding. Here are the top 10 key takeaways. #Investing#BookSummary
The fundamental problem in today's Housing Market is simple:
Home Prices are growing way faster than Incomes.
Real Home Prices up +102% since 1970.
Real Incomes only up +26%.
Something changed starting in early 2000s.
0/ The story of Alameda and FTX can best be summarized by @SBF_FTX's philosophy of betting big.
Every major decision they have made is related to acquiring more leverage - via deceptive fundraises, financial engineering, and ultimately, outright fraud, as we will see below.
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