Stocks prices are a proxy for our beliefs about the future

The recitation of a stock’s current valuation tells you absolutely nothing about its future price

Don’t Invest Like A Billionaire

Play stupid games, win stupid prizes.

Because everyone is getting redeemed and it’s not personal. Just business.

You will meet all sorts of people bearing rules, formulas and equations for why this thing should most assuredly follow that thing

This is what separates the best who ever did it from everyone else.

I made some charts