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8 november

Mentally and physically challenged for the future

Topic: How to lead a good life

Conclusion: Do some work, not too much, then rest


I think my entire life philosophy can be boiled down to this one soundbyte:

Extertion And Recuperation

What I mean is that what's needed to get anywhere, as well as maximize enjoyment, is to challenge oneself and then rest. You need to regularly go just outside your comfort zone mentally and physically, stay there for some time, and then get rest.

That's how we evolved, that's probably why we spend one third of our life sleeping, that's what been proven to work for bodybuilders and intellectuals alike. You should try it.

I recently wrote a more complicated post on the meaning of life here. It dealt with more abstract notions of perspective and productivity. Those are of course very important, but if I don't get as many words, then I'd put it all down to first making sure you are tired from some sort of strenuous activity and then getting your well-earned, high quality rest.

  • Fast, then eat
  • Lift weights or run, then rest
  • Learn something new, a physical skill or a difficult and complex theoretical subject. Then sleep on it (I'll write more about sleep in a coming post)
  • Read a book, solve a mathematics problem, then meditate (or sleep)

It really doesn't have to be more complicated than that. The exact form of challenge and rest can and should vary. What's more important is the principle in itself:

Strain yourself at least a little, but not for unnecessarily long, and remember to recuperate


Don't do this at home

What you shouldn't do is working yourself to the ground, never setting aside time for re-building the resources you use up during certain frantic periods. What you shouldn't do either is never doing something new and challenging. The latter would definitely put you in the loser camp of lost causes.


Practical tip - record your Exertion and Recuperation

Keep a notepad, whiteboard or something to that effect and make sure you get two marks every day: One for the day's challenge and one for the day's quality rest (once going the extra mile or minute becomes a true habit you can stop recording)

Remember where you found this article, and don't hesitate to share it and to subscribe to my free newsletter (and get my book for free, which I will soon stop giving away)

Taggar (blogg): 
6 november

What is the meaning of life: long term satisfaction guaranteed

Topic: a comprehensive answer to the meaning of life

Length: 2200 words

Idea:  you can conjure up arbitrary amounts of subjective meaning

Discussion and Conclusion: There is no objective meaning; you live and die for no reason, there is no plan, path or fate, no witness or juror. Once you die your elementary particles and energy scatter, and the patterns that made up your subjective experiences and memories disappear forever. Before long, nobody remembers you existed at all. The same goes for Earth and every life form on it, just on a grander time scale.

On the other hand you can experience and enjoy as much meaning as you like. If you find meaning there is meaning, even though it only exists in your head.

What to do: If you expect to find an absolute meaning you're likely to end up empty handed and disappointed. However, if you realize there is no real and objective meaning, but that you can conjure up arbitrary amounts of subjective meaning, the sky is the limit. And here's the kicker; I think evolution can guide you in what direction you're most likely to uncover and enjoy meaning (or in other words: long term satisfaction).

Long term satisfaction is meaning, but it takes some insight and planning to trick the human organism not to fall prey  to homeostasis on the one hand, or hedonistic adaptation on the other.


Survival of the most effectively hedonistic

Every day I find myself smiling and simply enjoying life. I often ask myself how come life is so damn wonderful all the time. I understand the anthropic principle, and I get that those who didn't appreciate life fell off the evolutionary bandwagon and left us hedonistic lot in charge, but still... We could have evolved to hate the weather, the smells of life, other animals and each other, or couldn't we?

I have enough money to do more or less whatever I can think of

What's enough? I have an 8-figure (but not 9 -- maybe in a few years depending on mainly one of my investments) net worth in US dollars, meaning I can sleep, eat and travel in style for as many years as my body can take it (I'm 45 now).

So, what do I actually do?

I spend most of my time throwing tennis balls for my rescue dog, pumping iron at the gym, reading (reading list here) and writing, not to mention the time I put into my podcast venture and my investments. If I'm doing something physical I listen to podcasts, and if I'm doing something intellectual I listen to music. I typically digest some 20-30 hours of podcasts per week (here's a list of what I listen to).

I don't travel much, I don't go out to party, I don't have a car, a boat or a watch, nor do I have an interest in fashion, in suits and shoes. I simply stay healthy - and challenged - in body and mind; that's more or less it.


Why do I do what I do?

Every now and then I think about it, about my life, about the choices I make, or rather don't make, every day. The other day, e.g., I had five minutes to spend before leaving for a meeting. I silenced my phone and started meditating on the word "perspective" that I wrote a post about a week ago (this one: Perspective is gold). This is what came out of those five minutes.


You are all alone

Life has no meaning unless you give it meaning. There is no cosmic plan for you, no God watching or intervening, no endgame, in short there is no meaning in an absolute sense.

However, you can create your own meaning and make your life mean something to you, and thus make it meningful (albeit only for yourself). It actually is true that we are all alone; brains in cranium vats, fed electrical impulses by a sack of meat let loose in a quantum mechanical world that neither it, nor you can sense as is, or make sense of for that matter.


The loop of meaningfulness

I get meaning from having fun and from being productive. Let's leave productivity out of the loop for a little while.

The hedonistic (fun) part boils down to good feelings in the present, or pleasurable (in a very broad sense; perhaps 'intense' had been a better description) feelings about memories of various kinds.

Both purely hedonistic experiences in the now, based on neurotransmitters like serotonin and dopamine, not to mention oxytocin, and more refined flow states during learning or creating at top capacity belong to the category of "fun now". Food, sex, sports, meditation, reading, playing, partying

Delightful memories include things like Pride (feeling good about accomplishing or enduring something), Relief (appreciation over not having a certain burden anymore) and Reliving (a pure copy of the original direct experience). Memories include Learning new things and skills, not least putting things in perspective.

That perspective is key to a higher appreciation of all other things. Perspective is one of the most important factors in lending meaning (albeit subjective) to life. Experiences enhance your perspective, which in turn enhances your capacity to both invent more things to experience, as well as appreciate those experiences

Perspective -- Innovation -- Appreciation -- Experience -- (circling back to Perspective)

Coming back to productivity, innovation, experience, learning and perspective all improve your productivity (i.e., ability to create more of value with less resources in terms of mainly time -- your only truly scarce resource). The more productive you are, the faster you can increase your freedom to choose between having fun and being productive (not saying they can't be the same thing)

Perspective -- Productivity -- Freedom -- Fun -- (circling back to Perspective)

In a way the aim is to strengthen the productivity loop until it's not needed at all, until all basic and higher material needs are taken care of  with zero effort; and 100% of your time can be spent on meaningful fun. But here's the rub. Unless the fun part entails novelty, challenges, learning and growing, it ceases to be enjoyable.

Human pattern recognition ("intelligence") and the desire for perspective and productivity evolved for survival (finding prey, avoiding predators, finding mates, identifying friends and enemies, analyzing situations and predicting outcomes). Unless those drives are fed with novelty and learning, i.e., finding new patterns, it's difficult to reach a state of sustainable satisfaction.

Ultimately we are meat sacks, governed by selfish genes, our owns and myriad others, that evolved over billions of years. All they "want" is to survive in as many copies as possible. That translates into drives of productivity and procreation, enabled by pattern recognition and prediction and greased by fun factors flooding our brains when moving in the evolutionary correct direction.

SURVIVAL DRIVERS

Pattern recognition -- Perspective -- Prediction -- Procreation

 


Without consciousness there is no consciousness, nobody who cares. But once there is a spark of consciousness it seems to feed on itself and increase in strength and value over time. Perspective works the same way. Without it there is no drive to get it. But just a little taste of perspective kicks off a strong feedback loop of ever increasing appetite for and the ability to gain ever more perspective. This is where meaning comes in. Without a perspective of the self there is no consciousness, no reflection, no metacognition, no plan, no real past or future; and no meaning.

But when we do have enough perspective on ourselves, on others and on reality; consciousness emerges and we can form meaningful relationships that place us in a context of increasing scope. It starts with the self and our top five Dunbars and can gradually, with time, technology and awareness, expand to include the entire universe. It is this reciprocal context forming that creates meaning. My meaning arises from taking you into account, just because you in turn take me into account.


Summary: Food, safety and sex => perspective, productivity and fun => meaning

Here's what it all comes down to. Our genes drive us toward good feelings and fun, which can be had from, e.g., survival enhancers for the self (candy, french fries, sleep, safety...) in order to increase the likelihood of copying (procreation). Drugs and games can hijack our reward circuitry and trick the body into thinking it's surviving or copying even when it really isn't.

At the bottom of it, mindless genes are merely trying to replicate like so much runaway nanotech grey goo (google it); and our meat sacks and consciousnesses are just along for the ride. Pattern recognition, or "perspective" if you will, turned out to be a very useful tool to avoid dangers, find food and mates. Hence there are genes coding for rewards for gaining perspective, being productive and procreating. In addition, to make sure we survived in a changing and dangerous environment we evolved hedonistic adaption, meaning we constantly crave novelty and new perspective, rather than being content with the status quo.

In other words, even when we can have fun all the time, we actually can't. Our selfish genes tell us it's "bad" if we don't experience and learn new things or hang out with other living things; and that translates to feelings of meaninglessness. Our organism demands oxytocin, dopamine and serotonin to feel it's going in the right direction (the direction of copying as many genes as possible) and the conscious self strives for novelty, bonding and perspective since those tend to maximize the desired hormones and neurotransmitters.

The feeling of meaning emerges from an ever expanding perspective and sense of context (at whatever scale you see relevant), whether it's directly related to physical survival or not. The lowest order of survival consists of mindless genes. They know nothing, feel nothing, their "wanting" to multiply is bound by simple physical laws making one molecule more likely than another. At the next level comes following reward chemicals like oxytocin and dopamine. Yet higher up the the complexity scale, the metaphysical drive for novelty, pattern recognition and context in that pattern (which all boil down to productivity and survival at the lower levels) make us feel we are going places, that there is a path with a beginning and an end. That path is the meaning. The Path Of Meaning only exists if we do "meaningful" things, defined as doing new things, experiencing more, having deeper relationships and so on, i.e. doing things that the body can expect lead to a sustainable or increasing level of visceral rewards in terms of brain chemistry.


take one word that

resonates with your way of life

and

bounce it around in your head for five minutes

to create your specific word cloud of meaning


What should you in practice do with this insight?

Record how you feel during and directly after an activity (present fun). Pay attention to how you feel about looking back at an activity after a week, a month, a year (memory fun). If it felt good and worthwhile, instilled satisfaction and pride rather than shame, as well as furthered your goals and your power to do more to the same effect (productivity), it was meaningful. Long term satisfaction is meaning. In fact it's all the meaning there is.

Meditate on it, i.e., set aside some time to think about your activities and your feelings about them. Why not do what I did that sparked this article; take one word that resonates with your way of life and bounce it around in your head for five minutes and see what else it can break loose. What's your version of my Perspective - Productivity - Experience - Procreation word cloud?

Fuck and play: Take care of your physical health, preferably through sex and physically challenging sports involving other people. The organism likes moderate challenges, physical contact and simulated procreation. You'll like it too, once you break out of that "ordinary life" homeostasis of working for the man, buying stuff and thinking you'll just do this for now, and 'later' you'll reap the rewards of life.

Read and try: Learn new things, including both physical and mental abilities and knowledge. This feeds the innate drive for novelty and pattern recognition. Not least it's the first step to enhanced perspective and increased awareness, which are prerequisites for meaning.

Socialize: Go deeper. Get to know your friends and partner at a deeper level. Meet new people. Knowing they know you works as a factor multiplier for your sense of context and perspective.


A last word on meaning: True enjoyment and meaning, from physical activity and challenging cognitive activities, leave less cravings for empty hedonism such as gluttony and sloth. Just as perspective begets perspective, meaning begets meaning and consciousness begets consciousness; physical and cognitive health beget physical and cognitive health, thanks to satisfaction saturation a.k.a. meaning.

Regarding the closely related notion of "success"; in my opinion success consists of the power and time to do what I find meaningful (i.e., what is long term enjoyable). Money is one means to that end, interesting, deep and close relationships another, meditation a third. Stuff, fame and status usually are hindrances on the path to success.


Remember where you found this article: mikaelsyding.com


 

Taggar (blogg): 
22 augusti

If you insist on being goal-oriented you risk just reaching your goals

Topic: Focus on goals, and that's all you'll get (if your goal is to become a billionaire, you risk becoming one -- and nothing more)

Conclusion: Avoid goals. self-esteem, happiness, experiences and knowing yourself are paramount to second hander "success"


Child psychology for adults with the wrong priorities

The famous Danish child psychologist, Jesper Juul, has advocated witnessing your children's upbringing, as well as being a true role model, rather than trying to shape and raise them with praise and bans.

Juul builds on observations of children's willingness to mimic and assist; being helpful. Children try to do the same things you do, and they try to assist you in whatever you're doing -- regardless of what you're trying to teach them. Children are very competent in this regard, i.e., in doing what you do, rather than what you say.

Juul also discusses self esteem vs. confidence. Self-esteem comes from being seen, loved and cared for, which produces a sense of intrinsic human value. Confidence on the other hand is associated with actual ability, such as being good at running, building things or doing math.

According to Juul, or at least what I remember from his book "Your Competent Child", you should refrain from overly praising your child, telling them they are "good at drawing", "good at running" etc., or for that matter issue orders like "get down from there!", "you are not allowed to..." and so on. Instead, by saying things like "that's look fun!", or "do you like to paint?", a parent encourages children to do things for themselves, to find their own center.

In addition, expressing love unconditionally builds long term self-esteem and a sense of inner worth, whereas praise tends to lead to "only" confidence, which can be ruined by a single poor execution. Nothing can ruin a solid self-esteem, while if your worth is based on ability, any little accident or setback can ruin you.

If you cheer on and praise competence and ability, you risk creating a feedback loop of: achievement = > praise => confidence => good feeling => search for more praise => achievement ... => => tangible success

It might sound good being a catalyst for your children's success, but what's missing is self-esteem, being happy in oneself without the need for other people's appreciation. When you're constantly trying to prove yourself in the eyes of others, it's difficult to find yourself and attain true happiness. You risk creating materialistic and successful but ultimately unhappy second handers.

In short, if you instill target-seeking in your children (or pursue targets yourself), they risk merely reaching those goals, and missing life altogether.

 

"If you do not change direction,

you might end up where you're heading"

-- Lao Tzu

 

(read that quote, and fifteen more of my favorite, important and useful quotes here)


Conclusion

You want to become rich? What if that's all you do? (realizing at the age of 87 that you have no friends, are unhappy, lack memorable experiences, have health problems and so on). Imagine you could trade places with Warren Buffett right now. You'd get 100bn dollars, give or take, and you'd be transferred to his 87-year old body. I trust you would say no (as I wrote about here regarding Time and Money)

You want fame? What if that's all you get? (no real friends, no riches, harassed by stalkers, never left alone)

You want to go to Mars? What if that's all you get to do; all alone on a space ship, than all alone on an empty planet?

You want to be the world's strongest man? You want to be the biggest bodybuilder? The fastest 100m dash sprinter?

All of those things may very well lead to interesting experiences, but if the specific goal is all you attain, your life will most likely be a meaningless one. Even worse so if you miss your one goal as well.

A final word: Be very careful in choosing your goals; update and amend them often according to who you have become in the meantime. Prioritize mid-term goals (months to years) over long-term ones (decades to life-time), and mark and celebrate your short and mid term accomplishments.

Don't ever feel the need to adhere to a plan or goal that your younger self set up, if present you wouldn't go back and set it up. Present you is all there is (but you might want to do some investing on behalf of your future you, just not too far off into the future)


Do you want to constantly learn new things, experience new things, get to know new people, hang out with friends and so on, then you can start right away and enjoy the entire journey.

It may be too late for you, but please avoid passing on your misguided goal orientation to your children by constant praise or threats and bans, rather than participatory witnessing as a role model.


My next post will be about the difference in longevity between men and women, and what that implies for your lifestyle if you want to live a long and meaningful life. Bookmark this page and subscribe to my newsletter to stay tuned.

Taggar (blogg): 
1 juni

The covfefe lemma: How to choose between Time and Money

Topic: The covfefe choice between time and money

Summary: no 25-year old would trade places with Warren Buffet, but where does one draw the line?


Inspired by an interview in Framgångspodden, and several articles and tweets by Wall Street Playboys, here are some of my thoughts regarding time, money, retirement and the meaning of life.

I was 42* when I retired with an 8-figure net worth in US dollars. 42. By then I had read the Hitchhiker's Guide To The Galaxy more or less once a year since I was 18. So, 24 times, give or take. 42 backwards**.

*actually I said the magic words a few days before my 42nd birthday, but I stayed on a while longer as just the Managing Director without any portfolio management responsibilities, thus retiring at the age of 42.

**"42" referring to Hitchhiker's Guide To The Galaxy as The Answer


Time isn't money; time is covfefe everything

Life Utility Function: Optimize your amount of quality time

Quality time: Time spent doing what you want, what's rewarding, what's meaningful, what doesn't subtract too much from your health account, or -if possible- what adds to your life span without being too tedious.


There are a few minor snags here. For one, I don't know when my life will end (accidents, genetics, technological breakthroughs, lifestyle). Second, I don't know what my current wealth will afford me in the future (return on capital, money paradigm, war).

Did I say "minor" snags? I meant major. In effect, it's impossible to make any useful predictions so any solution will be highly subjective. Here is mine:

Choose something interesting to do; the most interesting and worthwhile undertaking you can think of for both you and others. If chosen wisely you will optimize your income, while still enjoying yourself and feeling relevant.

If your line of work is weighted more toward making money than being truly rewarding, quit (at the latest) when you have 5-10x the amount you think would sustain your lifestyle given a status quo economic system.

Why 5-10x?

Because once you have 1-2x, increasing that by 2-4x  only means keeping your momentum going for another 5-10 years or so (less time left means you don't need 5-10x the 1x amount from 10 years earlier), and that extra buffer can make all the difference once you get off the machine (in case it proves difficult to get back on).

With 1x you have no disaster buffer. With 2x you can support one other person if needed, but still no buffer. With 4x you can diversify your assets between, e.g., stocks, bonds, gold etc., and still be okay even if war strikes, stocks crash, the money paradigm changes, or similar non-linear changes take place. With 8x you can do the same for one more person that lacks funds.

I'm not at all advocating aiming for 5-10x the wealth you need, I'm saying any sane person should stop making money at that point, unless it's the most meaningful use of their time they can think of.


It's my time now

When I was studying or working I had basically no time of my own. It all went to following orders or templates, going to meetings and doing things for others... for money. I didn't read a single piece of fiction for years during that time. At first I did it because everybody did it. Then I did it for the money and to prove something. Eventually I did it out of loyalty (and maybe, by the very end, a little greed and/or homeostasis). Owing to growing tired of my Ferrari and Lamborghini, as well as a very disappointing test drive of an Itama 55, I realized I didn't care for stuff. I realized sleep, health and my time (which are all facets of the same underlying concept) were what I valued the most.

I'm not interested in clothes, cars, watches, boats or conspicuous real estate. I simply enjoy making my time meaningful, which for me entails reading books, listening to podcasts, talking to interesting people, learning, writing, playing with my dog, and occasionally using my body for something breathtaking, for exercise, for partying our dining out with friends.

That's basically it.

I really don't need more than 30k USD a year (including the condominium fee), or let's say 1m USD at 3% yearly interest, to sustain my lifestyle. Thus 10m is plenty -- in particular assuming I can get more than a 3% return on average over a very long time, not to mention slowly chipping away at the capital.

However, if you can't reasonably quickly get to several times the wealth you would need for your desired lifestyle, you should focus on optimizing your quality time right away.


The College-Buffett covfefe equation

Unless you're mentally ill, are afflicted by an extremely expensive disease, covfefe, or very, very poor, if you're in your college years you would never trade places with Warren Buffet, despite his 100 billion dollars to his name (74bn, according to Forbes). The reason for that of course is that he's turning 87 this year and most likely doesn't have more than a few years left to live.

Where do you draw the line?

Would you trade being 25 with 10k, 100k, 1m to your name for being 45 with 2m, 5m, 10m? How much are your 20s worth? Your 30s? Your 40s? Your 50s? What if you were 90 years old and about to die; how much would just 1 more day of quality life (as if you were 25 again) be worth? 1 million, 1 billion? The answer is, I hope: all the money you could ever scrape together no matter the amount.

I'm fully aware we all have different utility functions, and some are hopelessly stuck in a kind of competitive KUWTJ mode (Keeping Up With The Joneses, i.e., trying to outdo your peers for no other reason than outdoing them). It doesn't necessarily make their lives less enjoyable and meaningful. They might get just as much serotonin, dopamine and oxytocin as I do (though I doubt it). What's important is to think about it, really think about it, and optimize along the right parameters, rather than merely living reactively and driven by homeostasis.

Is it really worth it, slaving away with something you don't care for, in order to fit in, in order to buy better suits (for the work you don't like anyway), a better car (to show off for "friends", neighbors and clients) etc.? Have you thought it through? Have you compared the years you're giving away to others for the (few) years you leave for yourself later on when you're older and less agile?


An eye for an eye, a year for a year

Who's that extra year for? Who's that extra wealth for? If you're proving something (like I did), or seeking revenge for a poor or unjust upbringing, for whom are you doing it?

I'm not saying "skip college", "drop out", "quit your day job" to hitchhike around the globe, living hand to mouth. I'm asking you to make an informed choice between spending one more year doing what you're doing (mostly for others), and using that year for something you really like and would do without having to tell others about it.

I had the luxury to come into enough wealth reasonably young without even thinking about it. I also had the luck of understanding the choice outlined above and quit in time. I understand the lure of riches, luxury and conspicuous consumption, and how difficult it is to fathom their uselessness unless you've experienced it yourself. Thus, I urge you to try it if you think you want it, but I'm also asking you to make an effort to back out quickly once you realize time, action and community are more important than stuff and theatricals. In the coming era of automation and cheap energy, material wealth could soon become moot anyway, as Peter Diamandis alluded to here:

“The son or daughter of a billionaire in New York or the son or daughter of the poorest farmer in Kenya is going to have access to the same level of education delivered by an AI, the same level of healthcare delivered by an AI, or intervention delivered by a robot. So, we're going to start to demonetize all the things we think of as the higher stakes of living,” he said.


Summary: the covfefe lemma

So, at what extra unit of material wealth vs. on less unit of time do you draw the line? Where is your so called covfefe point, where you wouldn't trade more time for the amount of dollars you can add per unit of time?

Bookmark this page, share it, and subscribe to stay tuned for more of my musings on life, money, technology and financial matters. You'll get my free e-book about my time at the European Hedge Fund Of The Decade too.

Taggar (blogg): 
29 maj

How grit, time and practice leads to creativity

Topic: Creativity

Summary: Creative insights take years and decades of experiences to get, so you'd better engage your grit yesterday already


We are down on the month with just two days left. Get me something good NOW. Nobody leaves until we've fixed this. Be creative!

-Bobby Axelrod in Billions being his typical unreasonable and incredulous larger than life self

Be creative. Now.


Wanting to be creative just doesn't work

Sometimes I want to be creative.

Sometimes I feel as if I haven't produced anything of value for some time, and just want to make something worthwhile, be it an investment, a blog post or just a witty or insightful tweet.

Blank

That's exactly what I typically come up with. Regarding investments, that's probably a good thing.


The silent YouTuber

The same goes for my YouTube series in Swedish: Listening to several hours of scientific and economic podcasts every day usually triggers shareable thoughts by the handful. However, if I don't write them down the insights are often gone just like that. OK, to be honest, I can keep a few fresh in my mind for several hours if I really want to. The problem is that forcing my memory that way severely limits the amount of new information I can digest.

What's sometimes frustrating is that despite churning hundreds of ideas through my mind and commonplace each and every month, if you (or I) put a video camera to my face and request I pull even one out of my theoretically shock-full hat of ideas...

Blank

It's not stage fright. I mean I can say something. I can whip up some old wisdom about patience, or whether to aim high or low. I can even be a bit witty, talking about investor mistakes (mostly my own), or gym stereotypes. What I can't do is create something new, connect some dots, do what some people seemingly effortlessly do all day long in social media. (oh, I know most of them only do it when they have those automatic strokes of insight, when they're hit by that strange type of boson called inspiratons, just like I am every now and then)

I have no problem accepting this, not least as I know I'll have new ideas tomorrow.


Inspiratons hit those heavy in experience

That's the message here really, that you'll get your inspiration when you get it. That there are no short cuts to creativity, that it's not like lifting weights or some other performance activity. That your moments if insight are the product of everything else you have done over days, weeks, months and years. When you hear something new, creativity is the automatic process of connecting dots from that to the sum total of your experiences.

At least that's my perception of creativity. All the books I've read, all the podcasts I've contemplated, all the deep conversations I've had, all the projects I've struggled with, it has all taught me something and given me a platform from which to interpret everything else I come across today. Trying to force creativity in the moment just blocks it for me, but constantly seeking out interesting and rewarding experiences means I will get strokes of insight in the future.

So, you want to be creative?

You think you're entitled to?

You want the truth?

You can't handle the truth!

My apologies..., I couldn't help myself. Perhaps it's some lingering effects from the creative brainstorming activity from last week.


Anyway, to be creative you need 1) experience, knowledge, and 2) curiosity to find and identify input.

I suggest you start experiencing as much as you can: reading, listening, conversing, doing, experimenting, all the while keeping structured and interlinked notes of what you're doing and why. Creative insights will come "for free" once you've had enough exposure.

However, "for free" doesn't mean you can be lazy about it. Including in "experience" is working for it, working through tough projects, reading and understanding complicated articles and books, engaging in and losing arguments etc.

Failure is the mother of creativity. Sweat its father.

The dark part of this message is that if you've already spent the better part of your life watching action comedies and soap operas, scrolling on your phone during your commute to and from work, you won't become creative overnight. Because creativity can't be plucked from thin air. The inspiratons are only attracted to bodies heavy in thoughtful, gritty experience - sometimes referred to as deliberate practice.


Summary

Nevermind trying to be creative.

Focus on learning and experiencing.

Your insights will come later, once you know enough, understand enough. Put your mind to connecting dots whenever you can - keep flexing that muscle - but don't expect true creativity until you truly understand a topic.

First time here? Subscribe to my free newsletter for weekly-ish updates, and read my free e-book about investing (no spam, albeit the letter does contain messages pertaining to my own businesses or affiliates)

Taggar (blogg): 
25 april

Why religion is the lazy coward's way

Summary: Religion is to science what snacking and TV-addiction is to exercise and deep work; a little bit like how technical analysis relates to fundamental analysis in investing.

Disclaimer: Before bashing on religion you should always ask what kind it is, i.e., exactly what the believer actually believes. When I'm talking about religion, I mean the existence of a personalized God that can and will communicate with people, governs some kind of extra-material realm, as well as can break or change the natural laws. All of that is of course complete bunk.


Religion is lazy, indulgent, and intellectually cowardly.

A scientist has to work much harder at uncovering the true nature of reality.

It takes centuries of missteps and breakthroughs, of courageous individuals and diligent teams challenging and building on each other's findings, to chip away at the big marble block of nature, piece by piece revealing what's beneath.

In contrast, any child can succumb to an overactive amygdala, and assume agency in every occurrence. God is a childish invention, where the familiarity of grown-ups controlling and creating the child's world spills over into adulthood, infecting the mind with shortcut solutions to complex problems.


It's the snack eating, TV-couch dwelling, dopamine addict personality that turns to God for a quick fix; whereas the curious and diligent homeostasis breaker works hard and deeply, knowing that the satisfaction from accomplishment beats any short term sugar rush.

You can tell your bible touting friend the next time you see him, that he's nothing but a feeble-minded, childish addict that's too lazy or too scared to try to understand the true nature of reality.


Hey, if that made you think, why not subscribe to my free newsletter (and get my e-book about investing for free)? After all, I did receive the only European Hedge Fund Of The Decade award to date. Or why, not check out this summary of my 12 investment lessons from the book.

Taggar (blogg): 
7 mars

Sticking to your strategy is much harder than forming it

Strategy

Investing isn't easy.

Investing involves a multitude of various investors, consumers, companies, managers, employees, fiscal and monetary policies, weather, disasters, your own psychological biases, and not least chance. Investing is thus like playing a multi-dimensional board game, with considerably more moving parts than in a game of Go.


In my book about 15 years at the best performing hedge fund in Europe over a decade, I list 50 rules of investing.

Over the coming weeks, I intend to go through and explain twelve of my most important insights from that time. Taken together I believe they will make for a useful inspirational reminder for enhancing your investment habits.


Strategy means having, and systematically and consistently complying with a system for investment decisions, rather than relying on intuition and gut feeling.

Some prefer a fundamental, value-based stock-picking strategy. That insures against permanent losses if market momentum suddenly turns negative.

Others prefer value-agnostic methods, based on, e.g., momentum or specific share price patterns. In theory, you could make money that way in any market environment. Yet others rely on asset class diversification with fixed rules for adjusting the relative weights.

Some investors focus on macroeconomic information, while some prefer pair trading, focus on special situations or risk arbitrage. A select few have chosen more or less complicated derivatives strategies.


There is no one optimal investing strategy. You can get rich or poor fast with any of the mentioned strategies.

Many strategies can carry the required load on the financial markets; and different strategies work better for different individuals or institutions. It's consistent execution of the chosen strategy that leads to exceptional results.

Hence, you should choose a strategy - logical, rational and back-tested - and modus operandi that you are comfortable with trusting in good times and bad, neither amending your sizing, risk tolerance, asset allocation or positioning during streaks of good luck, nor in streaks of bad luck.

Practice

Form a strategy

Stick to it

However, do adjust the strategy deliberately if needed; but don't deviate from it in ad hoc fashion based on emotional reactions to particular circumstances or stress.


Strategy.

My own strategy is based on thorough fundamental research on individual companies. I want to buy fair companies at a fantastic (low) price, including unproven start-ups with great ideas at very low market capitalizations. I tend to find it difficult buying great companies at great prices, mostly since I find it difficult to identify truly great companies without their prices being insane - a price point I've never been able to stomach.

I typically trade (buy or sell) in increments over a fairly long period (sometimes weeks, sometimes years), mostly to avoid the psychological blow of buying or selling the entire position at the wrong price right before an important (unknown) event, partly to enable trading on share price overshooting, and finally in order to learn more about the company before becoming psychologically stuck.

In addition, I trade around long-term positions whenever the share price overshoots or undershoots due to news or movements in the general market.

I'm always prepared to lose money, albeit not bond-pit trader style like Mark Spitznagel, but rather as part of reality's natural tendency toward an unpredictable range of outcomes. To insure against too large losses, I diversify across a range of assets, such as my apartment, physical gold and platinum options, private companies in a range of industries and stages, private bonds/loans, and listed stocks in various sectors.

I combine my bottom-up investment style with a top-down view of the general economy, as well as an overall view of the stock market (in particular the median valuation level, and trend convergence of technical gauges), in order to decide on my overall risk level and how to weight the various slices of my investment pizza.

In short, my strategy can be summarized thus:

  • Fundamental bottom-up value-based stock picking
    • Averaging in and out
    • Position trading
  • Overall market valuation
  • Overall market trend
  • Top-down macroeconomic overlay
  • Quattro Stagione asset class diversification pizza portfolio

My Strategy:

Right now the stock market is insanely expensive and technicals point to a trend change downward. Hence, I'm underweight listed stocks (actually net short including my XACT BEAR position). Nevertheless I'm long a few gaming companies with strong momentum, a hype/hope biotech stock, a nuclear energy consultancy stock and the Uranium ETF: URA.

Real interest rates are negative, and fiat currencies seems overdue some kind of re-set, explaining why I'm overweight precious metals (options on physical) as insurance against long term mayhem.

I have lent out money, with a large margin vs. policy and market rates. If the economy improves and interest rates rise, my rates rise too. If the economy weakens, I'll just have to hope my friends can keep their jobs. I'm overweight this kind of junk/friend private bond market due to extremely good rate margins, despite a half-decent macro outlook for Sweden.

I'm neutrally weighted private companies, even if it sometimes feel like I'm overweight - probably due to my low current weight for listed stocks. Listed stocks are expensive, while certain sectors and classes of small private companies are quite cheap - not to mention restricted to few well-connected investors. Hence, I have focused my investments during retirement more and more toward private companies within, e.g., HR software, consumer motor/water sports, medtech, retail and a few others.

My guess is I'll keep increasing my weights in private companies in tandem with the economy getting weaker at some point in the future, and me thus getting more and more calls for investments. After that I hope to reap handsome rewards starting in 2020 and going forward. Hopefully several of my private investments will become public around then. In 2022 I'll turn 50 and some time around then, my strategy is to do more travelling and spend less time on risky investments again... for a while.


Subscribe

Occasionally I will offer subscriber-only material in my newsletter. Please sign up (it's free, and it includes my book about hedge fund investing), if you want to make sure you don't miss out on freebies, offers and subscriber-only discounts on special products.

Taggar (blogg): 
7 mars

The ultimate answer to everything in investing and in life

Topic: The length of a piece of string

Summary: There are no clear cut answers to important questions. Embrace the ambiguity of life as well as the world of investments.

Style: Inspirational and philosophical think-piece connecting investments, golf, dieting, life, career, job interviews, and the superpositioned state of reality


The psychology of investing

I'm preparing a series of articles on the psychology of investing that I will start posting shortly. The series is meant as a reminder and an inspiration for traders looking to improve their game -not based on better number crunching but on managing themselves and their emotions better. It's based on the top insights from my e-book about managing a hedge fund but much more nuanced and practical.

The psychology of investing is much the same as the psychology of living, not least when dealing with problems and adversity or striving for long term ambitious targets. Noted exceptions regard maximizing volatility and the total upside in life, living impatiently and embracing strong emotions. In that regard, the preferred investment mindset is based on the diametrical opposites of living: minimizing error, managing and minimizing emotions, dealing with profits and losses with equanimity, and most of all being patient to a fault.

Wait, what - I went from saying, and credibly so, that investing and living follow the same general game plan, to claiming almost the exact opposite. Explain yourself, please!

Invoking the Douglas

I'm sorry. Inspired by the great Douglas Hofstadter I wanted to demonstrate by example: Sometimes it's all too easy to believe you have discovered the ultimate answer to every important question. I do that all the time, thinking "this is the way" and applies to all facets of life, be it relationships, investing, lifting weights etc. Luckily I rarely run with that thought for very long before realizing it's not that way at all, and actually understanding there's not even just one answer or solution to the single issue I started out with.

Instead, I often end up concluding that "it's a 'how long is a piece of string', or 'superposition' situation again". By that I mean the answer to most important question is "it depends, it's not black or white, it's both black and white at the same time, and at any particular moment a superposition of all possible answers collapsing into just one of fifty different shades of gray".


Do you want to lift?

Lifting weights is all about making perfect repetitions, it's about making the right compound exercises, it's about intensity, it's about programming, it's about making few and heavy reps while aviding failure, it's about making longer and lighter sets to failure, it's about eating enough protein, it's about timing your food - and yet it's not about all of those or of one of those things.

Living isn't about always investing, always being strategic, always planning ahead, always analyzing your every move, not trusting anybody else. Living can be that at times, but at other times it's about living in the now, quieting your inner narration, about trusting completely -and often you need to simultaneously combine two seemingly paradoxical tactics.

To diet successfully you need to strictly control your food intake and your exercise volume. At the same time dieting is best done on autopilot, preferably not thinking about yourself as dieting at all. Living on a diet is probably best done at both extreme ends of that range, as well as somewhere in between with the occasional cheat meal, with periods of strict control followed by periods of full autopilot once the habit is set.

Putting it in terms of golf, e.g., you need deliberate practice on the game and the swing. At the same time, however, you shouldn't think about the technical details at all once you're playing - except for sometimes. What can I say, it's complicated.

When investing, your gut instinct can lead you to the right decision (since your subconscious has access to all your knowledge and experience at the same time and can deliver its best response taking all those things into consideration at the same time in a way your million fold more limited conscious self can). On the other hand, you should never invest based on that 'blink' instinct, but take it as merely the starting point of your investigation of competitive position, valuation, trend, and other relevant and time tested factors.

Most importantly, you need a lot of relevant experience and deliberate practice and focused studies in order to have a subconscious able to make sense of an investment situation.

Trust your blink instinct for close friends and lovers. It's only in the blink real intimacy can thrive. On the other hand you shouldn't trust anyone, unless you've done a thorough background check, as well as observing their behavior, decisions and M.O. first hand for a significant amount of time.

In short, whatever you do, you benefit from oscillating between the extremes end of the spectrum every so often, while also welcoming the time spent in between.


How long is a piece of string?

Life is a superpositioned state of both black and white and all the grey in between, simultaneously. Just as in quantum mechanics, the truth is revealed by taking action, by the act of observing the outcome of an experiment.

There is never one final truth, a platonic ex ante truth. The answer to all questions vary from occasion to occasion and is decided ex post.

And, yet, A is A; i.e., it is what it is and nothing else - once it is decided. This seeming paradox illustrates the quantum nature of life. Everything and nothing is fixed - at the same time

How long should you stay in school, at a job you don't like (Whore Village), with a partner you're not passionate about? How much money do you need to retire? Do blondes have more fun? Are drugs bad for you? Is love all you need, or is it 'laughter'? When and how much and how to rest; when to sow, when to reap?

Heeding the 'no spoon' rule

First, you must realize there is no spoon; there is no definitive answer to any important question.

Then you can start exploring the ever changing options in between yes and no. Often, in my opinion, the answer is "try". Dare experiment, unless trying involves a significant risk of permanent and unacceptable loss.

 

What is 'unacceptable'? Well, I have this piece of string somewhere...

 

Quitting your job or relationship isn't dangerous, does not involve unacceptable losses. On the contrary, staying put, dwelling in homeostasis all but guarantees wasting your life.


Cityboy

Several years ago, I asked the author of Cityboy, Geraint Anderson, for advice on when to quit my job as a hedge fund manager. He told me to hang on in there, until staying two more years was more or less inconceivable, and then quit right away. So, I kept pushing a 30-month deadline ahead of me, until I in January 2014 just up and left*

*In practice I stayed on for another year, but only as the managing director with no investment responsibilities or partnership in the firm. As a perverse turn of fate, the fund was unexpectedly closed down in September 2014.

What if I hadn't quit? Had the fund been closed down with me in it? Then I wouldn't have been the (voluntarily) Retarded Hedge Fund Manager, but the Dismissed Doofus instead. Not quite the same legacy, or ring to it for that matter.


Summary

So, take the proverbial fork in the road, i.e., explore both extremes of your range of options before deciding.

Say yes, take action; say no, keep your integrity. I promise your life will be more interesting for it (which? yes or no? -Both!), although it just might contain a tinge of hurt and regret too.

However, don't be gullible just because you are a yes:er. And never fall for the "come on, dare say yes" lure. That is just not daring to say no, which is a no-no.

All in all, no matter if you're an investor or a weight lifter and are looking to excel, or if you're just aiming to lead a happy life; don't be too rigid, but don't slack off too much either. Try to alternate between the two to gain perspective and iteratively increase your level of wisdom.

By the way, over a decade ago, when interviewing applicants for the position of in-house analysts, speaking partners and would be portfolio managers at my hedge fund, we asked whether all the physical legal currency in Sweden would fit in a certain famous building. The question is pretty easy but takes a certain kind of triangulation and ability to shift perspective between a bird's eye view and a down to earth focus, while keeping legible notes. In that simple case we captured all there is to know about investing and living a meaningful and happy life. Or, perhaps we didn't learn anything useful at all.

How much is too much? Well...

Finally, in the spirit of the international "Trypod" movement, please recommend any podcast (or blog for that matter) to a friend that hasn't tried one, or that could use a new one. It doesn't have to be mine.

Taggar (blogg): 
8 februari

Becoming Buffett. Why?

Topic: Finding your drivers, your purpose, your why

Length: Short

Summary: Start with why you do things, instead of just going through your daily and weekly motions on autopilot. Is Warren Buffett a good role model?


WHY...

...did you just check your social media (or the stock market)?

Availability/proximity bias? Just because it's there? Happened automatically; couldn't think of anything better to do?

If you ask yourself that question - and answer - right before clicking on Twitter, Snapchat or trading platform, you might save yourself the trouble. More important, it's the first step to break an ugly habit, and save time for better things.


What's wrong with right now?

What's wrong with your state of mind, your situation that makes you want to change it by going online to check your news flow of soundbites to see what others are saying, thinking or liking? What good can come from checking your stocks if you're not trading actively?

-Oh, I've got 97 likes on that retweet of a snappy comment about Trump! I wonder if it can get to 100. Yes, it's 98 now; getting cloooser.


Buffett

Warren to the B says a lot of things: "Ohhh, this is so good" about a mug of coke, "Taking care of your body and brain like it's a car you have to make last your entire life is paramount" and then driving to his daily breakfast at McDonald's.

He also says "managing your own future worth while still young is your most important asset allocation and investment decision".

"How much is 10% of all your future earnings worth? What would you sell it to me for?" is another of WB's spiels that makes the issue tangible. (ignore the recursivity and moral hazard issues). So, what would you sell 10% of your future earnings for? That amount times ten is what you have to allocate today so choose wisely.

Morale: Investing in yourself is the most important thing you can do, according to Buffett

But what has Buffett himself done?

Sure, he's the world's wealthiest man (give or take a few billions or decades), but what is his WHY? What was his purpose of getting rich? What's his purpose with his amassed fortune? How did making all that money make his life worthwhile? What was it he was able to do, and de facto did, over the last 60-70 years?

  1. Use the same office in a small village
  2. Drive the same short commute, including a fast food breakfast
  3. Hold annual meetings and write annual letters
  4. Give it all away to cure diseases after he's dead

Everything else have been circuitous, with just one endgame: make more money.

I'm sure he is happy, it's not that I'm after; he found his purpose early on and stuck with it:

Accumulate wisdom in order to become the richest man in the world and thus be able to accumulate more wisdom. He could of course have just stayed in the same office in the same village for 60+ years without making money, in effect doing the exact same thing - except for the fame. What I don't quite understand is why he is so laser focused on making money, when he doesn't seem to want to use it in any other way than to get hold of more money.

Sure, he'll give it to charity, and that's quite something. I think it's really good that he takes money from ignorant people buying coke and burgers, and gives it to Bill Gates to deal with some of the worst troubles in the world. But he himself doesn't seem to do anything else with his life than eat the same McD breakfasts and sit at the same office reading company statements.

He obviously doesn't care about the money per se. Perhaps he likes the fame, but first and foremost he probably simply enjoyed the game of investing - much like many enjoy playing Candy Crush, Angry Birds or clicking on their social media accounts for the 100th time.

Anyway, enough about Buffett; there are no good reasons to watch the recent HBO documentary. If you are serious about gaining some practical wisdom you should instead check out this speech by Charlie Munger (or episode 526 of TrendFollowingRadio with Michael Covel for a shorter version of Munger's most important observations regarding psychology).


What's your why?

So, Buffett found his why, which amounted to daily dopamine kicks as he rose to investment fame and fortune. His purpose was no better or worse than watching TV or playing video games all life. He had fun. He became nr 1. He sat in an office.

What's your purpose?

Why do yo do what you do? Why do you drink what you drink, eat what you eat, eat where you eat, dress the way you dress?

Why do you check your social media dozens of times a day?


When I was young, including when I went to college, there was no internet, no mobile phones, no social media. There was nothing to check to get that dopamine kick. Instead I read books, thought, did sports, or played.

I'm not saying life was better, since it wasn't. Internet connected smartphones have their uses; a lot of them. However, mindlessly wasting time on updating likes, reading memes for a second's amusement or smirk aren't among them.


I'm sure you wouldn't bother to turn on a turned off phone to see "what's going on" in your Twitter flow. But when the phone is already on, the kick is just a second away, hence you do it again and again.

Short meaningless kicks with no motion forward. But what should you do instead, what do you really want?

What are you waiting for? Why are you just passing time? Or is Twitter, Angry Birds and dinner all you care for?

dinner


Are you wasting your life in a similar fashion?

Why do you live? Why did you go to school? Why do you work so hard? Why are you building that life "platform", of house, car, boat, work, status..., so intently?

What is it that really drives you? What makes you happy? (see my previous article from December 2015 on everyday happiness) What do you enjoy doing without posting it on social media?

  • Just make money like Buffett
  • Quality time with your closest friends
  • Work hard, play hard; essentially buy expensive toys and travels
  • Experience as much as possible, through, e.g., various travels and trips
  • What would you actually change if you had a billion, i.e., after buying a house, securing transportation and getting a better computer or phone, how would you change what you do in a given day? Do you really need (much) more money than you already have to to that?

Start with your why

(an inspiring book and TED talk about identifying and pursuing your true drivers). The book deals with how to be successful by knowing your ultimate purpose, but I've interpreted the question a little more freely.

Once you've fulfilled your basic needs in terms of internet connection, food and shelter, what is your WHY for getting up in the morning, for going through the motions?

Which people do you want to spend time with? Doing what? How do you plan to feel good, to feel relevant? How do you want to express yourself? Who do you want to be?

On that topic, by the way, Buffett had this to say in the clip in TrendFollowing: "Think of a few character traits you admire in others, and a few you loathe. Act to become the person you admire the most"


Summary: Just ask why

Ask WHY before checking your phone (app that counts how much you check)

Ask WHY before accepting that invitation

Ask WHY you'd do A, and thus miss out on B (alternative cost)

Ask WHY you want more money, status, fame, in exchange for your limited time

Ask WHY you are a member there, why you go to the gym, why you keep postponing what you really want to do, WHY you keep investing but never reaping?

Ask WHY you post things online. Wouldn't you enjoy your food, your vacation, your expensive car, your tour on a yacht if you couldn't get any likes?

Then what is it really worth to you?


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Taggar (blogg): 
5 september 2016

Everything is awesome

Theme: Peak everything. Stop living in denial and enjoy it.

The best music is yet to come.

Executive summary: I'm not talking about an imminent stock market crash*. This article deals with the constant advances of human culture, arts and science. We are at all time highs, but have really only started.

awesome

*or am I? Check the summary


Personal peak

I don't want to "look good for 45"*

...

...

I just want to be healthy

...

Well that and a few other things:

We have to end apartheid for one. And slow down the nuclear arms race, stop terrorism and world hunger. We have to provide food and shelter for the homeless, and oppose racial discrimination and promote civil rights, while also promoting equal rights for women. We have to encourage a return to traditional moral values. Most importantly, we have to promote general social concern and less materialism in young people.

Joking aside, apart from being healthy; looking healthy as well doesn't hurt. In addition it can inspire others, which is what most of my current life is about regarding health, wealth, happiness, purpose and productivity, among other things.

*Actually, I'm not 45, I'm just 44 (and a half)

Looking good

-That's not me. It's Christian Bale in American Psycho.

The Retarded Hedge Fund manager Karl-Mikael Syding at Skandia 1994

-That's me (in 1994)


Health and keystone habits

Anyway, over let's say the last five to seven years, I've almost lost all interest in building my body for show, and have become almost completely focused on health and strength instead.

It's working.

Not only do I feel great, today was probably my best weight lifting session ever and the trajectory I've been tracing this summer promises much more to come. I'll soon write a post on how a few simple keystone habits can transform your life by creating a framework that makes everything else easily click into place.


Awesome!

Everything is awesome
July 2016

Other things are awesome too

Never before have humans produced higher quality and value within the realms of, e.g., math, physics, athletes, art and music.

Several factors account for that: There are more of us, a higher proportion exposed (incl. over the Internet) to relevant information and stimulus, we are standing on the shoulders of the giants that came before us (building progress upon progress).

I recently learned that* the second quartile of admitted applicants for Juilliard in the 1980s wouldn't even have gotten in today, i.e., they would have slipped below the fourth quartile, due to a lack of technical skills (and possibly artistic as well).

*something like that. I think I got it from Freakonomics or TED Radio Hour.

I too like listening to old masterpieces, to look at masterly paintings, statues and buildings. I too sometimes get stuck enjoying the same old songs and artists. However, I make it a point to sometimes deliberately discover new favorites. Just this weekend, e.g., I went to see an opera.

 

Can't get no satisfaction?

I actually pity those who cling to the movies, songs and artists of yore (or of their youth); or only deem music and art by long since dead masters worthy of their attention.

They miss out on so much.

I mean, as if Elvis, Beatles or the Stones produced the best pop/rock music of all time. As if Mozart or Bach produced the best classical music ever, or Sergei Rachmaninov was the best piano player ever.

One thing is personal taste and childhood memories, another is actual technical skill. Regarding the latter, there is no contest. Deliberate practice and building on past findings make sure the best today outshine the best of yesterday. You just have to open your mind to it.

vermeer
A Vermeer

Did you know that Hermann Göring, nazi extraordinaire nr 2, reacted as if he discovered evil for the first time, when he learned that his favorite painting (Supper at Emmaus), his treasured and exquisite Vermeer, the painter's best work of all, was a forgery (Telegraph story here) made by the art broker himself?

evil

That story in itself puts into perspective what we like, enjoy or love. Apparently it wasn't the painting Göring liked, but its narrative. That's a story for a different post on feelings, bonding, oxytocin, ownership, the human super ego narrative and much more.


Summary

Everything is awesome. So, be awesome. Don't leave your supposed peak behind you. Summit another one.

Urban Deli Awesome

Break out of homeostasis. Discover. Listen to new music, enjoy new things. You can be certain you haven't experienced the best, because the best is constantly being reinvented. Try painting, or (Big Wave) Stand Up Paddleboarding. I made my first two oil paintings over the course of the last two weeks.

Admittedly, my paintings were joint projects
Admittedly, my paintings were joint projects

The market is crashing. It's just that it might be upward.

Everybody knows money printing can't kick start the economy, given the state with too much debt already. It's been proven now.

The central bankers, however, can't admit defeat so they'll just print ever larger amounts and sitribute it in new and clever ways. More money and more or less the same assets (probably slightly less due to malinvestment) mean higher asset prices. I'm sticking to gold in that scenario, but stocks could very well work too.

Be positiveEverything is awesome anyway, so any other approach would just be ridiculous

Taggar (blogg): 

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