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Zeal to Read

Trading

Zeal to Read

Trading | by 2 | on 2021-08-22 03:54

It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent. – Charlie Munger
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News you may use

As global prices soar, sugar exports set to top 6 million tonnes next season

Bill to privatise state-run general insurance cos gets Parliament nod

Business activity last week higher than pre-COVID level for first time: Report

Cabinet Approves ₹11,040 crore National Scheme for Edible Oils -NMEO-OP to focus on increasing area, productivity of oilseeds and palm oil

Consumer Sentiment Index up 10.7% in July – A smart but incomplete bounce-back after 2nd wave: CMIE

Crisil upgrades India Inc’s credit outlook to ‘positive’, says the recovery is broad-based

Decline in Debit Bounce Rates Hints at Pick-up in Collections – Banks, NBFCs see payments improving and slowly getting back to pre-Covid levels

Diesel sales fall 15% in Aug from July fortnight

Financial inclusion grew 24% across FY17-21: RBI

GDP to expand by deceptively high 20% in Q1, to be lower than pre-COVID levels: Icra

GST: E-way bill generation gathers pace in August

Half-a-trillion $ wiped off China mkts in a week – China Stocks Listed In US See Longest Losing Streak In A Decade Over Regulatory Woes

In a first, biz activity hits pre-Covid level: Nomura -Gets Boost From Easing Curbs Due To Fall In Infections – Indicates Rebound In Growth

Ind Ra revises up FY22 GDP estimate to 9.4%; flags rising inequality in ‘K-shaped’ recovery

India gets below-average monsoon rains for second straight week: IMD

Indian renewable energy developers raise over Rs.26,300 cr through green bonds in H1 2021: CEEW-CEF

India’s exports rise nearly 40% in second week of August, shows data

India’s textile exporters to see 20-25% growth this fiscal: Icra eport

NSE records over 50L new investors since April

Pandemic has IFC pumping USD 1.7 billion into local companies, up 51%

PM Modi unveils Rs 100 lakh crore Gati Shakti plan to boost infra

Relief for Exporters: Govt notifies rates, guidelines for 8,555 products under export promotion scheme RoDTEP

Road tax cut under vehicle scrappage policy to be a rule: Nitin Gadkari

Rural India back with a bang, leaves cities behind in consumption

Vehicle scrappage policy: Circular economy faces recycling scale hurdle

Views may be of use

The Best Advantage in Life
This suggests that you will probably do better economically if you are dumb and from a rich family than if you are smart and from a poor family. As the image below illustrates, less intelligent students (from high income families) have the same odds of graduating college as more intelligent students (from low income families).
Source: https://ofdollarsanddata.com/the-best-advantage-in-life/

Learning from Honey Bees
“While I spend the most time studying how the realities that affect me most work—i.e., those that drive the markets and the people I deal with — I also love to study nature to try to figure out how it works because, to me, nature is both beautiful and practical. Its perfection and brilliance staggers me. When I think about all the flying machines, swimming machines, and billions of other systems that nature created, from the microscopic level to the cosmic level, and how they interact with one another to make a workable whole that evolves through time and through multi-dimensions, my breath is taken away. It seems to me that, in relation to nature, man has the intelligence of a mould growing on an apple—man can’t even make a mosquito, let alone scratch the surface of understanding the universe”.
Source: https://mastersinvest.com/newblog/2021/8/4/learning-from-bees

Bernard Baruch’s Investing Rules
1)Don’t speculate unless you can make it a full-time job. 2) Beware of barbers, beauticians, waiters — of anyone — bringing gifts of “inside” information or “tips.” 3) Before you buy a security, find out everything you can about the company, its management and competitors, its earnings and possibilities of growth. 4) Don’t try to buy at the bottom and sell at the top. This can’t be done — except by liars. 5) Learn how to take your losses quickly and cleanly. Don’t expect to be right all the time. If you have made a mistake, cut your losses as quickly as possible. 6) Don’t buy too many different securities. Better have only a few investments which can be watched. 7) Make a periodic reappraisal of all your investments to see whether changing developments have altered their prospects. 8) Study your tax position to know when you can sell to greatest advantage. 9) Always keep a good part of your capital in a cash reserve. Never invest all your funds. 10) Don’t try to be a jack of all investments. Stick to the field you know best.
Source: https://novelinvestor.com/bernard-baruchs-investing-rules/

When to FOLD them
Highly skilled equity managers know how to find great stocks, but they are not so good at knowing which positions to sell. That observation comes from a recently published paper which is the subject of this post. The problem here is one of attention. Great PMs spend a lot of time looking for the next big idea and much less on evaluating their current positions. When they sell, that information gap leaves them open to unproductive mental shortcuts. Good news: the paper’s findings point to 4 hacks around this problem.
Source: https://worldoutofwhack.com/2021/08/09/when-to-fold-them/

The Most Important Insight(s) Whether students are ready or not, teachers appear everywhere.
“There are thousands of years of history in which lots and lots of very smart people worked very hard and ran all kinds of experiments on inventing new technologies, or creating new businesses, or new ways to manage or new ways to lead or all kinds of things. At some point, somebody put them down in a book, and for very little money and for a few hours of time, you can literally learn from somebody’s accumulated experience.” Marc Andreessen
Source: https://neckar.substack.com/p/the-most-important-insights

On Starting A Commonplace
A Commonplace or Commonplace Book is a written repository of information. It’s an archive of knowledge that the writer has considered to be important or useful enough to write down for future reference. They are individually tailored and curated collections of wisdom, aphorisms, notes, commentary, marginalia, facts, trivia, titbits, quotations and so forth.
Source: https://thomasjbevan.substack.com/p/workshop-3-commonplaces

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