What We’re Reading
Here are a few good articles the Collaborative Fund team came across this week.
Rest
Michael Phelps talks about his competitive advantage:
“I really can’t say it enough. I don’t think people really pay enough attention to how important sleep is,” says Phelps.
He was in the pool three to five hours a day seven days a week. To maintain that workout schedule, Phelps slept eight hours a night and took a 2-3 hour nap each afternoon, he says.
Progress
Bill Gates shares how much progress we’ve made:
More children survived in 2015 than in 2014. More survived in 2014 than in 2013, and so on. If you add it all up, 122 million children under age five have been saved over the past 25 years. These are children who would have died if mortality rates had stayed where they were in 1990.
Tragic
More than 40,000 Americans died in auto accidents last year. Most were shockingly preventable:
About half of all traffic fatalities involve unbelted occupants, and almost a third involve drivers who were impaired by drugs or alcohol, according to data from the National Highway Traffic Safety Administration, the federal government’s main auto-safety agency.
Frugality
Chris Sacca shares his advice:
If you could give one tip for college students wanting to invest or build a portfolio, what would it be?
The best thing college students can do right now is to stop spending their money. Being a cheap bastard now means so much more freedom and choices later.
Strategy
Some wisdom from Charley Ellis:
In the book I talk about the three ways to make money, as described by Charley Ellis. The first is physically exhausting (work harder than everyone else), the second is mentally exhausting (be smarter than everyone else) and the third is emotionally exhausting (be more rational than everyone else over the long-term).
Vocab
“Um” and “uh” are actually definable words:
Insight
Charlie Munger, probably the wisest man in investing, talks about life for two hours:
Have a good weekend.