Nick Sleep is a rather unknown investor who crushed the market with over 20% CAGR.
He wrote phenomenal Investing Letters.
Here's a summary of the most important points from 12 years of Letters:
Regardless of what’s happening in India today, focus in the fundamental investing community should shift back to what matters most- corporate earnings growth, the long-term trajectory of that growth, entry multiples, dividend yields, returns on invested capital, and the prospects…
We expect the markets to provide:
1+1+1+1+1+1+1 = 7
Whereas markets provide:
2-1+1+2+2-2+3 = 7
We expect markets to provide linear returns. Markets always provide lumpy returns. Most of the investors miserably fail to understand this. That's why wealth creation is difficult.
People often say "physics influences math." I wanted to know what that really means, which led me to write this new story for @QuantaMagazine. It's about the leading-edge of physics-math interaction today, which takes place around quantum field theory. quantamagazine.org/the-mystery-at…
Perfect responses to problems do not exist. Every solution creates future problems. Good responses fix the problem and prevent it from happening again. Great ones make future problems easier and not harder.
We live in a wondrous time, in which the strong is weak because of his scruples and the weak grows strong because of his audacity. quotes.thefamouspeople.com/otto-von-bisma…
Books are more likely to change minds than conversations.
There is too much happening internally during conversation:
- Did that sound stupid?
- What do they think of me?
- Will I lose the friendship over this opinion?
Books can let you chew on an idea without social risk.
When reading books or listening to podcasts or taking advice, remember that everyone is biased to their personal history.
The world is complex and there is no single path to a success. Look for patterns that are repeated across many successful people, not single stories.
Strange reality:
You would get more joy from slowly achieving your goal than you would from achieving it overnight and not achieving anything for a long time afterwards.
The joy is in the journey.
FOUR Productivity FEYNMAN- strategies:
i) Stop trying to know-it-all.
ii) Don't worry about what others are thinking.
iii) Don't think about what you want to be, but what you want to do.
iv) Have a sense of humor and talk honestly.
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