Investing is Hard You make the most money when you are right and contrarian. -- Many of us greatly admire Warren Buffett and Charlie Munger. They have taught us so much about consistent compounding, playing the long game, and the elements of a great business. Berkshire Hathawa…↗

.@coatue_thomas describes how a meeting with Steven Spielberg eventually taught him how to pitch companies. "Steven said, 'Every great story can be pitched in three sentences, no matter what the story was.'" "In three sentences you got the whole movie. And what I realized is it…↗

Introducing Scout Program. Real capital. A live leaderboard. And a path to running your own fund. scoutprogram.com This will be the most interesting investing program in the industry when all is said & done.↗

Remote-first works extremely well if you have the right people. And fails miserably if you don't Some of my biggest investing wins are in remote-first startups. @Linear being the best example It works for A+ self-starting teams. We're trying to pull that off with @trysunflower↗

Charlie Munger said: “If all you ever did was buy high-quality stocks on the 200-week moving average, you would beat the S&P 500 by a large margin over time. The problem is, few human beings have that kind of discipline." 📉↗

US Stocks +200% this year. What's your excuse?↗

Composer did it again. ~70% of my money in @ComposerInvest is in a symphony that switches between TQQQ and UVXY. Today, it switched me from TQQQ to UVXY. When I saw the CPI print, I assumed I was on the wrong side of that one. A few hours later, TQQQ is -5%, UVXY is +1%.↗

Some news... I left Zapier, to go all in on AI—focusing on Ben's Bites and investing. I became an @a16z scout, (+ something else soon 👀) And most importantly; my wife and I are expecting twins 👶👶 in July! I'm so excited about the next season of my life.... —————— 📰 Ben'…↗

What is a stock/company that you know well that you can’t believe is down as much as it is?↗

What makes Warren Buffett the greatest investor of all-time? He is the only infinite-minded investor in the stock market, which is an infinite game. 🧵↗

I own 7 stocks that are 15+ baggers (and counting) Here are 10 traits they all have in common:↗

A thread on how real estate investors, developers and operators can make millions a year and pay almost nothing in TAXES by using depreciation, bonus depreciation, and 1031 exchanges. How it works:↗

If I ever do moonshot investing it will be 10 years from now backing current @earnestcapital founders after a number of them had their first life-changing exit.↗

Last one on Buffett. Here's his answer in 2009 vs 2020 about whether or why to buy stocks. His answer is pretty similar. I don't know what stocks will do over the short run. But I buy when the price is right. Interesting to compare and contrast.↗

Let's do this. 1/ Buffett: "Most people come to our meeting to hear Charlie. At 96 he is in fine shape. It didn't seem like a good idea to have him come to this meeting. Charlie is in fine shape and he will be back next year." Charlie is now doing video streaming meetings.↗

1/ "We have to have a business with some inherent characteristics that give it a durable competitive advantage." C. Munger "The key to investing is ... determining the competitive advantage of any given company and, above all, the durability of that advantage." W. Buffett↗

Been investing for 5.5 years. I have returned almost no capital, but have lead 1 round from seed investor->unicorn, 1 more coming shortly, and another hopefully a bit later in year. So I have at least learned some things. Here are my learnings for New GPs/Managers, fwiw:↗