If we have the same assets and I can earn an 8% annual returns, and you can earn 12% annual returns, but I need half as much money to be happy while your lifestyle compounds as fast as your assets, I’m better off than you are. I’m getting more benefit from my investments despite lower returns.
At a party given by a billionaire on Shelter Island, Kurt Vonnegut informs his pal, Joseph Heller, that their host, a hedge fund manager, had made more money in a single day than Heller had earned from his wildly popular novel Catch-22 over its whole history. Heller responds,“Yes, but I have something he will never have . . . enough.”
Success is the sum of small efforts repeated daily.
Palantir
Palantir $PLTR has bought $50.7M in Gold Bars and plans to accept payment in Gold according to Bloomberg.
It’s possible that following the gold investment, Palantir could expand into cryptocurrencies. In May, after Glazer was asked on an analyst call if the company could have bitcoin or other cryptocurrencies on its balance sheet, he said, “The short answer is, yes, we’re thinking about it, and we’ve even discussed internally.”
People Now Spend More at Amazon Than at Walmart
Proof that the online future has arrived: The biggest e-commerce company outside China has unseated the biggest brick-and-mortar seller.
Nvidia
Dated pre-pandemic, pre-February 2020 crash, the S&P500 is up 31.25% — that more than two-thirds less than that (so-called) doubling.
About 4 trillion dollars in stimulus has been passed and (mostly) spent. CARES Act 1 2 & 3 all put so much cash into the US economy that it — literally — lowered poverty levels nearly in half.
NFT’s
109k people have bought an NFT on OpenSea this month, according to rchen8 on Dune Analytics.
The Progressive Decentralization of Narrative
78% of NFL players are in financial distress just 2 years after retirement… 60% of NBA players are broke within 5 years of leaving the league… High income ≠ Wealth
When Buffett was about to set up his investment partnership, Ben Graham advised him to wait until the market declined substantially before "embarking on his life's work." Buffett: "Worst advice I ever got."
WHEN THEY STARTED?
Mark Zuckerberg - FB at 20
Jeff Bezos - AMAZON at 30
Elon Musk - SPACEX at 31
Jan Koum - WHATSAPP at his 33
Asa Candler - COCA-COLA at his 41
Sam Walton - WALMART at 44
Gordon Bowker - STARBUCKS at 51
Colonel Sanders - KFC at 62