SpaceX & Intentions

(edited transcript) … Lots of news around SpaceX. Not a recommendation to buy or sell the stock at all, to be clear. Important lessons from it? I think the number one is, just the power of narratives. A lot of people thought it was a get rich quick scheme. And to date, that has not proven to be the case. In my experience, get rich quick things don’t work. Second point is, because we heard a lot of people calling this new part of their portfolio, “this will be the super growth portfolio” or this will be– your intentions and what the market is going to do are not the same thing. And we watch this, people think that they can speak something into existence as it relates to the markets or their portfolio. Understand what you really own. It isn’t what you’re calling it that matters. What it really is, in general, maybe specific to the environment that you’re in. And then the third main point is again the verdict’s still out. And again, I don’t have one. I’m not expressing one. But the market gets, and investors get, hyper-focused on the short term when you don’t really understand how things are going to work for a much longer time frame. Innovations don’t take 6 to 12 weeks. They take 6 to 12 years or more. Doesn’t make anything a good or bad investment. But even the good investments that you may make are going to get short circuited. If you have an unrealistic time frame that you need those things to manifest. And that’s one of the things, it’s hard enough to pick the right investment. You then start laying on top of it an intention or a need. “I need this thing to double or triple in the next year.” You’ve made it almost impossible to become a successful investor.

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SpaceX & Intentions

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