Reading Notes For: 

Regretting The Opportunities Not Taken

  • Opportunities only look like opportunities in the rear-view mirror.  Today, they only look like a risk.
    • They look obvious in retrospect.  Look like risks in the moment.
  • Every investment has some sort of risk.  You can’t avoid risk.  Money in your mattress is losing value due to inflation.  Also, doing nothing has Opportunity Cost.
  • Every day we make bets.  WE make bets with our money.  But more-so we make bets with out time.   We have limited resources to work with and unlimited opportunities to spend it.
  • Ideally, we want something that requires no new skills and no new effort.  Though highly unlikely.  Generally you either have to gain new skills to leverage effort.  Or pile on effort to get over lack of skills.  New skills increase the likelihood of getting more output per unit input.
  • World-class investors have objective proof (their investment returns) that they are relatively good decision-makers.   We all have to pay attention to our risk-adjusted-return.  Most people don’t have a scoreboard of how good their advice is.

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