Next time you think of giving up, remember this photo of Elon in 2008.

RT @InvestingCanons: "Most people are too fretful, they worry too much. Success means being very patient, but aggressive when it's time."…

Life when you’re a long-term investor and not trying to time the market 😏

My grandmother is 87. She doesn’t count calories, track steps, watch fitness influencers, or spend hours on a phone. She eats jowar rotti, sprouts, home-grown vegetables, and simple homemade food. She has never made junk food a part of her life. Every day, she still bends down, sits on the floor, cooks, walks to the market, manages the house, and takes care of my grandfather like he’s her own child. In a world obsessed with hacks and shortcuts, she’s a reminder that a simple life, good food, movement, responsibility, and caring for others might be the greatest longevity formula ever.

Ron Baron believes that trading for a quick 20% gain is the fastest way to stay broke "most guys buy bonds or keep cash just to feel safe making 4% - we have never owned a single bond because paper currency is designed to lose its value every day" "the crowd buys a stock with a 3-month plan and panics at a 10% drop - our minimum holding period is 10 years, because that is how you turn a million into a billion" "regular traders obsess over next week's chart patterns - we only care if the founder has the drive to double the size of the business every 5 years" Baron didn't build a $40 billion fund by guessing the next trend. he built it by finding generational monopolies, backing great founders, and doing absolutely nothing for decades watch him break down his exact investment strategy

Even if someone does manage to find a winning strategy, they rarely stick around to reap the rewards. Every active strategy, even the best ones, will experience periods of brutal underperformance relative to the index. Human psychology is hardwired for loss aversion. When an investor sees their "differentiated strategy" losing money while the boring Nifty 500 or S&P 500 is chugging along, cognitive dissonance sets in. They capitulate. They abandon the strategy at the exact moment of maximum pain (the bottom of the drawdown) and switch to whatever else is currently winning. They end up constantly buying high and selling low, paying a heavy behavioral tax.

I discovered @raycast today, and can't imagine my life without it now!!

I’m all for wealth accumulation, but money isn’t everything. One of my favorite quotes comes from Joseph Heller while at a party hosted by a billionaire. When asked about how he felt about the billionaire’s wealth he said: “I have something he will never have. Enough.”

If you’ve become even remotely successful in your profession, one of the greatest things you can do is give some of your time to those attempting to follow in your footsteps. A 30-minute conversation can literally change someone’s life. It’s such an incredible giveback.

Bill Ackman just exposed a silent killer of value creation in public markets: “The problem of being a public company today is the very short-term nature of markets, analysts, etc. A good business is a forever thing. You want to make decisions in the context of decades — and how can you do that when someone's asking about the tax rate in the second quarter?” ___ This is one of the most important things any investor or operator can internalize — because the disease he’s describing has infected nearly everyone. We live in an era where everyone—corporate managers and individual investors—has been trained to chase the next quarterly dopamine hit. Markets reward the immediate and punish the patient. Analysts grill executives on next quarter’s tax rate while the company is trying to reinvent its entire industry over the next decade. Boards panic at any sign of short-term pain. And for some individual investors? Even worse. You see the exact same mindset on X, Reddit, and every investing forum: “So-and-so stock hasn’t done anything for 2 years! Why would I own it?” That sentence is the sound of someone voluntarily building their investing foundation on sand. Because here’s the brutal truth Ackman is pointing at: Real, durable wealth is created by thinking and acting in decades, not days. It requires deliberately suppressing the most primal human impulses—fear of missing out (FOMO), impatience, the desperate need for immediate validation. Most people simply refuse to do it. They’d rather feel smart for two straight years of “I told you so” than actually compound capital over ten. Stock price in the short run reflects sentiment, positioning, and the mood of the marginal trader, none of which tell you anything about what the business is actually worth. The fundamentals ARE the foundation. The price eventually follows the fundamentals, but it can lag by years — and the investors who get shaken out during that lag are the ones who hand their returns to the patient. @BillAckman point isn’t just about having a big shareholder on the board (though that can help enormously). It’s a deeper lesson for all of us: Managers: Stop managing to the short-term consensus estimate. Manage to the 5 and 10-year outcome. Use your big owners as a sounding board. Investors: Stop using the short-term stock price action as your primary research tool. If the business is getting stronger and the price isn’t reflecting it yet, that’s not a problem—that’s an opportunity. Everyone: Train yourself to feel discomfort when you catch yourself thinking in quarters instead of decades. That discomfort is your edge. The market will always try to drag you back into short-term noise. Be disciplined. I love this clip because Bill Ackman didn’t just describe a governance hack. He diagnosed a cultural disease (STT or “short-term-thinking”) that is quietly destroying trillions in potential value—both inside companies and inside portfolios. The cure is simple, but almost no one has the stomach for it: Think long-term. Act long-term. Ignore the noise. As Benjamin Graham said: “In the short run, the market is a voting machine, but in the long run, it is a weighing machine.” ___ 🎙️ All-In Podcast | Bill Ackman (06/03/26)

Wanting to beat the market is one of the biggest investing mistakes you can make. The irony: simply capturing market returns at minimal cost, held unwavering for decades, beats 95% of investors.

When you choose active funds, market risk is just the beginning! You are also taking fund manager risk, because future performance depends on a person's decisions. You take intermediary risk when recommendations are influenced by incentives. You take social media risk when investment choices are driven by trends and noise. And above all, you take behavioural risk - your own tendency to chase winners and abandon strategies at the worst possible time. Market risk cannot be avoided. The others can be reduced. Every additional layer between your money and the market introduces another point of failure. Successful investing is often less about finding the best-performing fund and more about avoiding risks that never needed to be taken in the first place.

I will eliminate hatred, envy, jealousy, selfishness, and cynicism, by developing love for all humanity, because I know that a negative attitude toward others can never bring me success. I will cause others to believe in me, because I will believe in them, and in myself.

Larry Goldstein of Santa Monica Partners, who compounded at 16% for 40 years (!) would often say: ‘I know nothing about the stock market.’ - The news of the day typically becomes irrelevant over a long enough time period - Don’t focus on macro or market timing - Just find good investments, and when you do, step back and let them do their thing

The Bigger Risk Is Not Losing Money. It’s Losing What You Already Built Many investors proudly call themselves aggressive investors even after accumulating significant wealth. They forget that risk is a tool to build wealth, not a lifestyle to be maintained forever. A 30-year-old with Rs.10 lakh can recover from a 30% portfolio decline through future savings and earnings. But a person with Rs.5 crore, built over decades of discipline, losing the same 30% is watching Rs.1.5 crore disappear. The percentage is identical. The impact is not. The purpose of investing is not to keep taking bigger bets forever. It is to reach a stage where protecting wealth becomes more important than chasing a little more return. The irony is that many investors become more cautious when they have little money and more adventurous when they have plenty. They buy insurance for a Rs.10 lakh car but hesitate to protect a Rs.5 crore portfolio. Building wealth requires taking risk. Keeping wealth requires respecting risk. Knowing when to shift from one to the other is what separates successful investors from permanent return chasers.

Still thinking about this commentary by @jatinsapru Goated💥❤️

the greatest energy trader of all time on what being the best actually costs you: "i would sit there from six in the morning to 6 at night staring at the screen. go out with people from the industry that night. dream about the industry. in the shower in the morning i'd be thinking about it. after doing that for 17 years, at some point i just had to step back." nobody tells you this part. the people who become the best in the world at one thing are almost never the best at anything else while they're doing it.

Time is the currency of life. Money is not. 🔑 🔑

Maturing as a parent is realizing parenting is more about controlling your own behavior than your child's. Our children mirror us, never forget that.

today someone in office said that “worrying is the worst way to use your imagination” and that’s easily the best thing Ive heard all week