Decided to keep a journal today
Let's keep this casual. That's the type of person that I am.
Hopefully I will have lived an interesting and fulfilling life and I can look back one day and review my journey and progress.
Just a bit of catching up I suppose.
Born and bred in NYC
Had some interesting experiences in my life so far, but still feeling incomplete.
Started a business right after college, and grew it to a modest success.
Life isn't too difficult right now but I am by no means super comfortable; although it may have something to do with philosophy of living well below my means.
A point about that.
After a little more than a year long deep study into value investing, Warren Buffett, Charlie Munger, et al. I've learned that what I'm doing is distributing (ie spending money) way less than my actual earnings (retained earnings). But I haven't really found a way to invest and grow the retained earnings besides reinvesting it into my business which has to be done in large lump sums. The introduction, or rather, the realization of using the public equity/debt markets to grow my retained earnings have been eye opening.
I am now taking a bit of a risk for financial independence. Seeking this financial independence will afford me flexibility and freedom to do what I wish. After financial independence, I will probably invest into companies with a social/humanitarian impact--I could get a job and effect change that way, but I am way too arrogant and probably lazy to actually do the work. I am more of a mental and big picture person. Hopefully it works out. Buffett always eschews debt because of the risk; but I'm not at a comfortable level yet, so I'll need to enhance the returns a bit. I tried some margin loans but it was a bit frightening when the market dropped in December 2018. I de-levered a bit and decided to use a real estate mortgage loan so that it is non-callable. I think Buffett was giving general advice to the public, but I think he'd probably be okay with what I'm doing; assuming I have the temperament to hold for the long term. So I have to think more defensively in the stocks to beat the ~5% debt rates. I'm thinking US Bank, Berkshire Hathaway and Dollar General. I'm starting to dislike Brookfield Property. I'll probably unload some of those shares soon.
Saw Chamath's interview with Recode and I enjoyed it very much, particularly the happiness topic and also the VC as a pyramid scheme.
https://www.recode.net/podcasts/2019/3/4/18247010/chamath-palihapitiya-social-capital-happiness-identity-crisis-kara-swisher-teddy-schleifer-podcast
https://s3-us-west-2.amazonaws.com/socialcapital-annual-letters/Social+Capital+Interim+Annual+Letter,+2018.pdf
Well, I'd like to continue my reading now: Poor Charlie's Almanack
Toodles
Hopefully I will have lived an interesting and fulfilling life and I can look back one day and review my journey and progress.
Just a bit of catching up I suppose.
Born and bred in NYC
Had some interesting experiences in my life so far, but still feeling incomplete.
Started a business right after college, and grew it to a modest success.
Life isn't too difficult right now but I am by no means super comfortable; although it may have something to do with philosophy of living well below my means.
A point about that.
After a little more than a year long deep study into value investing, Warren Buffett, Charlie Munger, et al. I've learned that what I'm doing is distributing (ie spending money) way less than my actual earnings (retained earnings). But I haven't really found a way to invest and grow the retained earnings besides reinvesting it into my business which has to be done in large lump sums. The introduction, or rather, the realization of using the public equity/debt markets to grow my retained earnings have been eye opening.
I am now taking a bit of a risk for financial independence. Seeking this financial independence will afford me flexibility and freedom to do what I wish. After financial independence, I will probably invest into companies with a social/humanitarian impact--I could get a job and effect change that way, but I am way too arrogant and probably lazy to actually do the work. I am more of a mental and big picture person. Hopefully it works out. Buffett always eschews debt because of the risk; but I'm not at a comfortable level yet, so I'll need to enhance the returns a bit. I tried some margin loans but it was a bit frightening when the market dropped in December 2018. I de-levered a bit and decided to use a real estate mortgage loan so that it is non-callable. I think Buffett was giving general advice to the public, but I think he'd probably be okay with what I'm doing; assuming I have the temperament to hold for the long term. So I have to think more defensively in the stocks to beat the ~5% debt rates. I'm thinking US Bank, Berkshire Hathaway and Dollar General. I'm starting to dislike Brookfield Property. I'll probably unload some of those shares soon.
Saw Chamath's interview with Recode and I enjoyed it very much, particularly the happiness topic and also the VC as a pyramid scheme.
https://www.recode.net/podcasts/2019/3/4/18247010/chamath-palihapitiya-social-capital-happiness-identity-crisis-kara-swisher-teddy-schleifer-podcast
https://s3-us-west-2.amazonaws.com/socialcapital-annual-letters/Social+Capital+Interim+Annual+Letter,+2018.pdf
Well, I'd like to continue my reading now: Poor Charlie's Almanack
Toodles
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