Wealth creation is about looking for positive asymmetric opportunities - ones where the upside is many times greater than the downside. The Barbell Strategy is one way you can protect your downside risk while maximizing your upside potential.
Read MoreThe best indicator of long-term success is how successful you are right now. If you are building a website, business, podcast, or anything else that takes time to build, your initial success is the best indication of long-term success. If it starts out great, it will likely continue to be great. If it starts out mediocre (with a soft reaction from your target market), it will likely stay that way.
Read MoreCharlie Munger addressed shareholders and answered questions at the Daily Journal Corporation’s annual meeting in Los Angeles in February 2020. I went into the transcript and pulled out 5 lessons on wealth creation from Charlie Munger’s annual address.
Read MoreIt’s hard to be the best at something. I’m not talking “pretty good” or even “scary good.” I’m talking face-melting, hysteria-inducing, “greatest-ever” best. This is very hard to do. It’s almost impossible. Instead of trying to be the best at 1 thing, you should try and become very good at two or more things. Very good means that you’re in the top 25% in that field. That’s the 25% rule.
Read MoreIf you typed “How to make money starting with nothing” into your search engine or clicked on a social link from Twitter and landed here, welcome! I’m happy to have you. You’re part of a special group of have-nots looking to bootstrap themselves into generational wealth. A word of warning though… This series is going to be a little bit different than the others you’ve read […]
Read MoreFelix Dennis got rich in publishing. Naval Ravikant got rich in Silicon Valley. Nassim Nicholas Taleb by trading. Warren Buffett by investing. And the soon-to-be rich will get wildly wealthy by building things that don’t yet exist. What’s your path to riches? […]
Read MoreWealth isn’t a problem to be solved. It’s an opportunity to create. And the more you create, the better you get at creating. Your 1st million dollars is a lot harder to create than the 2nd, 3rd, and 4th million. This is because by the 4th million, you’ve gotten pretty good at creating wealth […]
Read MoreInvesting is hard, but that doesn’t mean we can’t simplify the ideas behind an investment philosophy and come to understand it. As Naval Ravikant (@naval on Twitter) reminds us: “It’s the mark of a charlatan to try and explain simple things in complex ways and it’s the mark of a genius to explain […]
Read MoreIf you haven’t read Felix Dennis’ book, How To Get Rich, I highly recommend picking up a copy. It’s a quick, fun, blunt read. Dennis spends the first half of the book convincing you not to try and become rich, for reasons you have to discover for yourself. One of the things that stuck with me from the book was the way he talks about the fear of […]
Read MoreI love to share thoughts from great doers, and Naval Ravikant is one of them. Chief Executive Officer and Founder of AngelList.com, Naval is a must-follow on Twitter (@Naval) and often shares insights into the tech and start-up spaces. Recently, Naval commented on an aspect of the internet that most people have yet to truly internalize - its potential to transform your […]
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