Particularly for angel investors who don’t have the benefit of receiving management fees, “wins” generally mean that you end up with a substantial portion of your net-worth in 1–3 companies. It’s also worth reading The Power Law: Venture Capital and the Making of the New Future, which will give you an idea of how this world functions, how the economics work or don’t work, and what assumptions are made with investment strategies. I would highly advise against this for 99.99% of people, but I did approach it systematically, and I’ll share more on that below. That ended up returning far more than if I had put all of my savings in a low-cost index fund in 2008. I decided to “go pro” with early-stage angel investing in tech. For me, this is true in almost all asset classes. ” The WSJ was kind enough to update the digital version, but in case you missed it, here’s the correction: I did put a decent portion of my money into low-cost index funds, as I fully accepted I was an amateur in public equities and had no competitive advantage. I’ve also strongly advised against anyone trying to copy my investing approach with tech, so I’m more anti-cheerleader than cheerleader.īut perhaps most important, the print edition stated, “Mr. But I don’t aspire to be Buffett in all things. I have indeed modeled him for a lot, and I highly recommend the books Seeking Wisdom: From Darwin to Munger and A Few Lessons for Investors and Managers from Warren Buffett, even if you don’t consider yourself an investor. In fairness, the piece doesn’t directly describe me as such, but casual readers might conclude that based on the headline. The WSJ piece makes some great points and highlights hubris we all need to watch for in ourselves, but I do not identify as a Warren Buffett wannabe. Since the above headline was used in the print edition, I’ll quickly clarify a few things. I’ve studied Warren for a long time, read nearly all of his letters, and invested a lot according to his principles, so this made sense.īut then we have this curious development… The first headline and subhead of the recent WSJ piece looked like this when I saw it:įair enough. For those interested, I also shared my highlighted notes from the event. I decided to write this blog post to share some expanded thoughts.įirst things first: how on earth did I actually get a coveted mic and ask the Oracle of Omaha a question? It took some planning. Given space constraints, my full answers couldn’t be included. This clip went viral, and a number of media outlets ( Wall Street Journal, Business Insider, etc.) reached out to me for comment, asking questions like “What advice would you give a 30-year-old now who’d just amassed their first million?” I was intensely nervous, as the quavering voice makes clear. “Hi, my name is Timothy Ferriss, and I’m a Guest Lecturer at Princeton University twice a year…”īefore was “Tim,” a slightly nervous “Timothy” asked Charlie & Warren in 08 to advise a newly successful 30-yr old, non-investment professional how best to invest.ġ/x□□ /qVurnTIM8v- Compound248 □ February 18, 2023
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |