What I learnt in 2015


2015 seems to have flown by. I can’t believe that the year has already ended.It’s been quite a year, even though it feels like it flew by in an instant. Here are some of the things I learn in 2015:




Scott Redler (T3 Live): Uber, the world’s largest taxi company, owns no vehicles. Facebook, the world’s most popular media owner, creates no content. Alibaba, the most valuable retailer, has no inventory. And Airbnb, the world’s largest accommodation provider, owns no real estate.

Ivan the K (Finance Twitter General Manager): Taylor Swift is a more effective corporate activist than most hedge funds.

Morgan Housel (Motley Fool): Finance bloggers continue to put out amazing, thought-provoking content for free. The quality has never been better. If you explained to investors 20 years ago the kind of quality analysis you could read for free now, it would blow their minds. It’s such a cool thing that we sometimes take for granted.

Money Grower UK: The only difference between for-profit and non-profit organisations is their tax status – they both enrich insiders whilst satisfying society. (I just had to include my own)

Terry Smith (Fundsmith): What has continued to amaze me throughout the past five years is not just this largely pointless obsession with factors which are unknowable, largely irrelevant, or both, but how infrequently I hear fund managers or investors talk about investing in something which is good. Like a good company with good products or services, strong market share, good profitability, cash flow and product development.

Jim Lebenthal (Lebenthal Wealth Advisors): investing requires the courage of your convictions.  You can’t be blown this way and that by whatever style (or fad) is prevalent.  More than ever, you have to believe in yourself, especially when few others seem to.  It is mandatory to good investing that you do so.

Mary Childs (Financial Times): Oprah was right. If you talk about something long enough, envision it, and believe it hard enough, it comes true — like the Fed raising short-term interest rates, and also bond market liquidity.

Jay Yarow (Business Insider): you should love what you do rather than do what you love. A lot of people say, “Pursue your dreams/passions.” I think successful people don’t do actually do that. Instead they fall in love with what they’re doing, which is much more important.



Alex Fitzpatrick (TIME): I have much, much more to learn.

Jeff Miller (A Dash of Insight): all products, from biotech to banjos, are mysteriously dependent upon high oil prices. Services, too.

Charles Sizemore (Sizemore Insights): a high debt load can turn a safe, stable investment into a very unsafe, unstable investment. Also, if success comes too soon or too easily, you cherish it a lot less and it slips through your fingers a lot easier. And a good client is more like a partner than a customer.

Tim Knight (Slope of Hope): Karma is real, and Martin Shkreli is absolute living proof of this now-irrefutable fact

Peter Boockvar (The Lindsey Group): without QE from the Fed, stocks can go up and down

Joe Fahmy (Roadie, Guns n’ Roses): 90% of being an economist is fighting off all the women.

 

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