Nicholas Condon > Recent Status Updates

Into the last 100 pages now. Preparing for intense sadness as suggested by reviews.

You must treat speculation as veteran gamblers treat their trips to the casino:

- you must never delude yourself into thinking you’re investing when you’re speculating
- speculating becomes mortally dangerous the moment you begin to take it seriously
- you must put strict limits on the amount you are willing to wager

Never assign more than 10% of your portfolio to your mad money account (speculative risk)

“Adequate” return refers to any rate the investor is willing to accept, provided he acts with reasonable intelligence”

Investing consists equally of 3 elements:

- you must throughly analyse a company, and the soundness of its underlying businesses, before you buy it’s stock;
- you must deliberately protect yourself against serious losses;
- you must aspire to “adequate”, not extraordinary performance

“An investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return.”

“Thorough analysis” means “the study of facts in the light of established standards of safety and value”.

“Safety of principal” signifies “protection against loss under normal or reasonably likely conditions or variations”.

50/50 bonds to stock split recommendation. When one changes by 5% or more due to market conditions, make the necessary correction back to 50/50.

Never have less than 25% or more than 75% of either.

When you feel that stocks are too cheap, raise stocks up to a maximum of 75%. When you feel that sticks are too expensive, lower stocks to a minimum of 25%.

“This book will not teach you how to beat the market. No truthful book can. Instead this book will teach you three powerful lessons:
1. How you can minimise the odds of suffering irreversible losses
2. How you can maximise the chances of achieving sustainable gains
3. How you can control the self-defeating behaviour that keeps most investors from reaching their full potential

All Solomon Wiese desires is a shop girl with a fat bum.

Good little reminder in this last section that “seeming” is very different to “being”. People often on the trains and in the city and even in your suburb tend to seem as though they’re familiar with their environment and have little-to-no interest in it so they end up concealing the information their desperate to communicate.

Making me realise my vocabulary is probably at a year 8 level.

Yeah baby. Christian Buch and Amalia Albers are back and so am I. Time to get to the bottom of this shlongery.

Starting to think I’d like to be an investment banker despite being a chance of becoming a wanker. I like portfolio structuring and finding that I quite like risk management in the form of derivative contracts lmao. Textbook is actually keeping me entertained which suggests I’m doing the right degree.

I’m actually reading the 9th edition so eat my shorts Goodreads

Hadn’t read in a while so took a while to re-figure out characters and current events but does remembering whats happened really matter when everything’s a stream of consciousness? Is there an actual purposeful story to this book? Anyway I think I can make enough sense of what’s happening to move on. Almost halfway there YIEW.