Rational Walk is the only newsletter that I read among the many I receive about investing. I found almost a waste of time all the rest. Too much noise. Many talk about money, finance and other interesting topics but they are not about investing. Rational is exhaustive, accurate, drops some knowledge, and even if you…
“The most worthless of mankind are not afraid to condemn in others the same disorders which they allow in themselves” Edward Gibbon “The decline and fall of the Roman Empire” Prize in others the good qualities you’d like to have but you are struggling to achieve. It is not only paramount to find the right…
“It is more human to laugh at life than to lament it” Seneca, On Tranquility of mind What do you do with sadness? What is the advantage of being a victim and surrender? We all face obstacles that are outside our control. If we have applied our best efforts and at the best of our…
“We should live well but not in luxury” Seneca, “Moral letters” What does truly make you happy? Seneca and the stoics thought that happiness resides easily in small things. Incidentally Benjamin Franklin many centuries later pointed out that more than in the big strikes of luck, that also may happen, happiness can be found in…
Puo’ essere che “Forever is not as long as it used to be”. Maybe, ma non di meno I grandi risultati per il vero investitore si misurano sul lungo termine. Wall Street ne e’ una evidente dimostrazione. Chi ha investito con me condivide da principio che noi siamo un Gruppo “long-term greedy”. Alcuni businesses acquisiti…
Quanto sono attuali ed applicabili oggi i principi dell’ “old school” of investing nel mondo tech dominato da Amazon, FB, etc? E’ Supermoney, il libro di Adam Smith del 1972 diventato sinonimo di Supervalutazioni a Wall Street oggi? E titoli come Tesla si sgonfieranno mai? Marketwatch di recente ha pubblicato un articolo il cui titolo…
WAITING (part 2) and “Is Investing for everyone?” “If you are not ready to own a stock for ten years, you shouldn’t own it for 10 minutes” Uncle Warren says. As I have said previously, too much of a good thing is a wonderful thing in investing. But good businesses are really hard to find.…
WAITING (part 1) In the investment world, you need patience. Unlike trading or speculating where the short-term benefit comes from being opportunistic, in ‘real’ investing, it is essential for the intelligent investor to wait patiently to reap long-term rewards. Waiting also possesses another virtue: the ability of gleaning more wisdom while waiting for the right…
I highly recommend reading Warren Buffett’s most recent letter regarding the donation on 23rd of June (4.1 billion). It’s on the Berkshire Hathaway website, and if it doesn’t resonate with your capitalist heart, it means that all your efforts to be a better person and a true capitalist are in vain. In my opinion, it…
“Thats why the philosophers warn us not to be satisfied with mere learning, but to add practice and then training”.(Epictetus, Discourses) In investing,the goal is very simple: “Investing is laying out money now to get more money back in the future-more money in real terms, after taking inflation into account”. We already know many people forget that…