Like I mentioned in the newlestter last week, I have been reading a lot about Elon Musk. I've covered almost 900 pages of material largely from the book written by Ashlee Vance (the book is heavily discounted on Amazon right now) and all of WaitButWhy's posts. I learnt a great deal about various things from… Continue reading Elon Musk’s Letter To Employees – Insights on Markets and Investing
Even though my rate of savings have been on the higher side for the last few years, I have been constantly finding avenues to increase the rate of savings. I could save in liquid funds but that would not amount to long-term savings. Ofcourse there are people who can hold money for more than five… Continue reading Top 3 Money Locking Hacks
Two people got together. They mated. They reproduced. You were born. You have been given a life. You cannot help it now. You have to live it. How can you undo it? There is only one solution - death can. Now, what do you make of this life? Do you just die? Or do make… Continue reading Funny Thing Called Life
Napoleon defined military genius as "The man who can do the average thing when all those around him are going crazy." Average things are boring. Boring things are not intellectually stimulating enough (in the wrong ways). They don't give us the adrenaline rush. My rules for a boring life. a. Mediocre skills required to create… Continue reading Very Boring. Works Like Magic.
Growth Without Goals - A fantastic piece by Patrick. He speaks about long-term thinking, desires, and most importantly habits vs. goals. I read this for the third-time yesterday. Keeps me motivated and focused to stay away from goals. Chop wood, carry water. That's all you have to do. Forever. Those Who Teach, Can Do -… Continue reading On Habits vs. Goals, Teaching and One Big Thing
I will be 30 years old in 2020. I have learnt enough over the last 10 years about managing finances. There is a lot to learn yet but here are my tid-bits for anyone who wants to get serious about handling their money. Here it goes - Be A Literate - Learn to Deal With… Continue reading Take Ownership Of Your Money – Grow Up or Die Poor
Jana Vembunarayan wrote a post on the importance of keeping a diary and recording your decisions. Don’t focus just on investing decisions. Learn to think big. You make decisions every day. Read here. The legendary Chinese Investor, Li-Lu discusses the influences Charlie Munger has had on his life. My lesson? The grass is always greener… Continue reading On Keeping A Diary, LiLu on Charlie Munger’s life , Morgan Housel’s Portfolio and Role of Luck
What is a Map? Maps are reductions of what they represent. Do not take in the geographical sense only. Maps are more than geographical representations. Maps are simplifications of complex structures. A map could be anything. A few examples - Financial statements are maps. They represent all the transactions of an entity over a certain… Continue reading Understanding Mental Models – The Map Is Not The Territory
A question which has been haunting me for a while now. I had an argument with a relative who wanted me to spend a large amount of money on my wedding. All he had to say was "Why do we earn money? Only to spend on occasions like these". Why do we earn money? Ask… Continue reading Why Do We Earn Money?
I have one uncle. He invests like everyone else. However, he has a different approach to investing than most of us. Can you guess what? He considers his monthly investing as an expenditure. Let me explain how. We all have monthly household budgets. We plan all our expenses in advance. We plan our purchases in… Continue reading Household Investing Budget