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If you don't have a lot of money to invest, it's far better to put that cash into developing yourself. That can be as simple as reading books such as The Innova
by maxharris 6y ago
If you don't have a lot of money to invest, it's far better to put that cash into developing yourself. That can be as simple as reading books such as The Innovator's Dilemma by Clayton Christensen or The Virtue of Selfishness by Ayn Rand, or following an interest you already have (mine are things like machining, chemistry, structural engineering, neon art).
If you have a business idea, one of the best books I've read is The Right It: Why So Many Ideas Fail and How to Make Sure Yours Succeed by Alberto Savoia. Making stuff is a lot easier than learning whether or not you're on the right track without spending everything you have.
The last thing I'd suggest is to be concerned with history and America's oncoming fascist trainwreck. Peikoff wrote The Ominous Parallels forty years ago, and his words are every bit as chilling as they are prescient.
- hsbauauvhabzb 6y agoHow does any of that relate to investing in Tesla?
- maxharris 6y agoInvesting intelligently isn't a matter of luck. The ability to think very broadly and deeply helps a lot. Be curious! Read stuff! Don't blindly copy others.
- distances 6y agoTesla in the last year has been a meme stock with valuation that has no connection to reality or any fundamentals. Is this what you predicted with your research?
- maxharris 6y agoThat’s what you think. I disagree, obviously, which is why I haven’t sold any shares. Why don’t we come back to this in five years? I am pretty sure I’ll still be rich, and you'll come up with more evasions to explain why you aren't.
- dataangel 6y ago> The Virtue of Selfishness by Ayn Rand Oh yeah, buying into a cult whose entire appeal is convincing selfish people they can stop feeling bad about it, you're very very developed. Also hysterical that this nose-to-the-grindstone approach is what you're advocating when you retired over a one time return from a super volatile stock.
- maxharris 6y agoLet's check back in five years ;) I'm maxharris9 on Twitter