I came to Sweden around five years ago. This country has given me immense opportunities to build myself into what I have become and I am immensely grateful to the country, its people and most importantly to God. One thing that I am disappointed about myself a lot is that by now, I really should have learned the language and be fluent in it but I haven’t. I am an intermediate level speaker of the language for now. From my short experience here, I have few thoughts to share to those thinking of studying and working abroad specifically in Scandinavia.
The value investing strategy is having a hard time and here to defend it is Clifford Asness of AQR capital
“A huge part of our job is building a great investment process that will make money over the long term, but a fair amount of our job is sticking to it like grim death during the tougher times…value alone lost because a lot of expensive stocks actually turned out to be worth it.“
“Competitive advantage can be represented visually as 1 or more feedback loops. These create the advantage “flywheel” that maintain and grow a moat over time. Think of a big, heavy wheel that takes some effort to get started but then coasts off its own momentum. [Above] are 6 simple examples of common advantages represented as flywheels”
Most people, including me, would be better off if we gave up on being smart and stuck with a simple approach: long-term holdings of diversified, low-cost index funds, using only money we can afford to tie up for years.
Eventually, I ran out of money and started to seek VC funding. I had a working product, and customers using it, and everyone said no. Meanwhile, I watched other people who fit a different “profile” get money thrown at them for shitty ideas…The only thing I could attribute it to was that I was black…The whole experience made me hate raising money. But it forced me to become resourceful, scrappy, and maniacally focused. I learned how to stretch each dollar. Today, I’m very grateful. The business is approaching $30 million in recurring revenue, and growing more than 100 percent year-over-year. It’s been profitable since 2016. And I’m the majority owner.< Calendly founder Tope Awotona>
I am learning a new skill this summer aka driving (don’t ask me why it has taken me so long to learn driving) and I have never felt more of a fool at something like I have these days. It reminded me of this quote by Mortimer Adler in How to Read a Book on how learning a new skill (driving for me and skiing in his example) can make you feel like a fool: