Our attention is a zero-sum game. Any second spent attending to something is a second stolen from something else.
Here are some notes I took from Bill Schultheis’s appearance on the Rational Reminder podcast.
Notes
Thoughts on crypto
Investing a small proportion of your portfolio in cryptocurrencies may be a smart thing to do. However, he chooses not to because investing in crypto comes with a higher cost than the price of its shares. It requires mental bandwidth. You now have to pay attention to the volatile price swings. Our attention is a zero-sum game. Any second spent attending to something is a second stolen from something else. He would rather spend his attention on the things he has control over (see below) rather than watch a number go up and down hoping for a positive outcome. This hope of making it big with crypto or your latest stock picks might be preventing you from starting the business you’ve been wanting to create.
Three investing principles
- Save for a rainy day.
- There is no free lunch.
- Don’t put all your eggs in one basket.
Three principles of financial freedom
- Up your savings.
- Up your career.
- Start a business.
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- Hindsight Thoughts on Doing a Masters
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- The Wealthy Barber
- Is it Luck or is it Skill?
- Does it Make Sense to Buy Raffle Tickets?
- What I Learned from Tracking my Mood for 1000 days
- Atomic Habits
Affiliate Links
- The Coffeehouse Investor – Bill Schultheis
- The Coffeehouse Investor’s Ground Rules – Bill Schultheis