Important advice from Li Lu (Charlie Munger’s favorite investor) "Part of the game is to come into your own. You must find some way that perfectly fits your personality. It is a competitive game, so you’re going to run into a lot of hardworking fellows. The only way to gain an edge is through long and hard work. Do what you love to do, so you just naturally do it or think about it all the time, even if you’re relaxing. Over time, you can accumulate a huge advantage if it comes naturally to you. The ones who really figure out their own style and stick to it and let their natural temperament take over will have a big advantage. The game is a process of discovering: who you are, what you’re interested in, what you’re good at, what you love to do, then magnifying that until you gain a sizable edge over all the other people."
"Take a simple idea and take it seriously."
Love this! It really resonated with me. Thanks for sharing, David, and for the context on Li
Excellent point. Creating an investment approach that fits your strengths and circumstances > blindly cloning others
Build your skills on what you are passionate about...work hard on things that you find easy to do.
“Do what you love to do” comes with time, niching down, extreme competence and repetition. Work. Say yes. Be curious. You'll get really good at something and then just do more of that.
You only build lasting advantage when your strategy, temperament, and time horizon fuse into one coherent identity. That’s why most investors lose: they copy instead of cultivating conviction. The great investors win not by being smarter, but by being truer to themselves over decades.
Earned Secrets | Startup Acquired by Google
4ddo what feels like play to you, but looks like work to others