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“This is going to be an amazing year for us, my friend. Hold steady. The blessings are coming...” 28all. Eya. *PW, PB, DP, WL, ET* The Warm-Up: “Life is better when you make space for what you love. This world can rob you of every ounce of happiness that you possess—if you let it. You have to be intentional about giving yourself something to look forward to. You have to prioritize your joy.” ~Michell C Clark The Core: “Circumstance does not make the man, it reveals him to himself.” ~James Allen, As a Man Thinketh “Turn on the film, the routes there, don’t let that lil 40 mess your head up…” ~Xavier Worthy, via X “The more time it takes to explain a course of action, the less likely it is to be a good one.” ~Farnum Street “You don’t need more approval…you need more creating. What you create is your resume.” ~Matt Gottesman “It’s about who stands in the rain with you when they also have a choice to be dry. Remember that.” ~@mindset.therapy “Value investing requires a great deal of hard work, unusually strict discipline, and a long-term investment horizon.” ~Seth Klarman “You can go to hell without moving an inch, just focus on what you lack. You can taste heaven without leaving earth, just rejoice in what you have.” ~James Clear, 3-2-1 “Long after people forget the details, they’ll remember your kindness. There are many forms of hospitality, but resilience, goodwill and gratitude are often the ones that matter.” ~Seth Godin, Graceful “ ‘If someone told you it took one million no’s to get a yes, wouldn’t you be excited to get your first no?’ Get just as excited for those no’s bc it’s one step closer to your yes.” ~Kristin Juszczyk (via Instagram) “Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ. Once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble in investing.” ~Seth Klarman “I’ve come to believe that part of the reason professional money managers produce such lousy returns is because the industry attracts such intelligent people. They’re too smart for their own good. There’s a fine line between intellectual rigor and believing your own bullshit, and smart people are at more risk than ordinary folks.” ~Morgan Housel, The Dumber Side of Smart People “Entropy applies to every part of our lives. It is inescapable, and even if we try to ignore it, the result is a collapse of some sort. Understanding entropy leads to a radical change in the way we see the world. Ignorance of it is responsible for many of our biggest mistakes and failures. We cannot expect anything to stay the way we leave it. To maintain our health, relationships, careers, skills, knowledge, societies, and possessions requires never-ending effort and vigilance. Disorder is not a mistake; it is our default. Order is always artificial and temporary.” ~Shane Parrish, Entropy: The Hidden Force That Complicates Life Last Set: “If a man does not keep pace with his companions, perhaps it is because he hears a different drummer. Let him step to the music which he hears, however measured or far away.” ~Henry David Thoreau Food For Thought: “Being in the gym over these last few months in national games – watching, listening, talking to, hearing…There is a lot wrong with AAU. BUT the PARENTS are near the top of the list. It’s sickening. The delusion that exist[s] is crazy. If we’re always making [excuses] for our children’s behavior where it has to be someone else’s fault, and we’re not teaching them accountability, we’re setting them up to fail. If we’re always criticizing a coach or program who is [giving] their own time to benefit YOUR child’s development and well-being, and that’s not enough, you should coach them to give them all you want them to have. As parents we have to be better. Looking back when I played AAU, the thing I take the most pride in is my mom or dad NEVER complained to one coach I ever played for from 8 years old on. They said ‘you want all the things you say you want, figure it out and go get better.’ Looking back, I wear that with pride…” ~Jamal Crawford, via X Food For Thought II: “It goes back to one of the reasons I love that we manage a mutual fund. I mean, I love that what we do ultimately ties to a very specific individual that is going to retire or not or is going to send a kid to college or not because it does make us realize that one of the really deep, dark, dirty secrets of money management is that if you were faced with the choice of you return 10% a year for the next decade and the market does 12, or you are zero and the market’s down two, every money manager takes the zero, but every client would take the 10 because 10 years of zero return is not going to help them achieve their goals…But you will be one of the largest money managers on earth if you do that, right? And so this asymmetry of incentives, I think it’s one of the things that we never want to lose track of—that ultimately achieving 10% is way, way better than achieving zero. And that we want to beat the index over time. We want to beat the competition over time.” ~Chris Davis: Three Generations of Wealth, The Knowledge Project w/ Shane Parrish
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