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This guy bought a sterling silver candlestick holder at Goodwill for just $1.99, tore it apart, and pulled out about 23 grams of silver. At the time of the video, that was worth around $70. Even though silver prices have come down a bit since then and are sitting...

247,505 views • 13 days ago •via X (Twitter)

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Paul Tudor Jones on the moment early in his career that taught him the difference between investing and trading. He watched Bunker Hunt go from the richest man on Earth to nearly bankrupt in six weeks: "Bunker Hunt was squeezing silver at the time, and he bought about 200 million ounces at an average price of about $3.50. And between 1976 and 1980, inflation started ripping and silver went literally through the roof. By like 1979, silver was around $30 an ounce, and all of a sudden he was worth about five or six billion. So he buys 20 million ounces at $35. And it just roofed. Goes to $50. He's worth about 11 billion and he's got a multiple of five or six on the next closest guy. I just couldn't even believe what I had seen and how much money that this guy had made. COMEX made it liquidation only and silver collapsed. It went from $50 to under $10 in the space of about eight weeks. And that had a searing impact on me, to see him go from the richest guy to virtually bankrupt in the short space of six or seven weeks. Right then and there, I would never own anything or trust anything for the rest of my life. My grandfather, when I was really young, he said, "Son, you're only worth what you can write a check for tomorrow." So liquidity's always been something that's been in my DNA. I had this friend; he was such a character. We were brokers at that time at E.F. Hutton. And we called him The Mortician because he'd get an account with 10,000, churn about a $100,000 in commissions, take it to a million bucks, and then have it in deficit. So you learned that liquidity was really important because the volatility was so huge. We're all living on the edge. So that had a real impact on me. The idea of owning something for the long run was laughable, because look how much money you could make by trading in the short run."

Patrick OShaughnessy

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Jordan Peterson: "If you can't fix your room, you can't fix your life" "Why should you even bother improving yourself? The answer is something like: so you don't suffer anymore stupidly than you have to. And maybe so others don't have to either. It's not some casual self-help doctrine. If you don't organize yourself properly, you'll pay for it. In a big way. And so will the people around you." Peterson continues: "You can say, 'Well, I don't care about that.' But that's actually not true, you do care about it. Because if you're in pain, you will care about it. It's very rare that you can find someone in excruciating pain who would say, 'Well, it would be no better if I was out of this.' Pain brings the idea that it would be better if it didn't exist along with it. It's incontrovertible." On how to start: "Look around for something that bothers you and see if you can fix it. You can do this in a room. Sit in your bedroom and think: 'If I wanted to spend ten minutes making this room better, what would I have to do?' You have to ask yourself that, it's a genuine question. And things will pop out. There's a stack of papers bugging you. Some rubbish behind your computer monitor you haven't attended to for six months. Cables tangled up." He explains why this matters: "If you were coming to see me for psychotherapy, the easiest thing would be to get you to organize your room. You think, is that psychotherapy? It depends on how you conceive the limits of your being. Start where you can start. If something announces itself as in need of repair that you could repair, fix it. Fix a hundred things like that, your life will be a lot different." On fixing what you repeat every day: "People tend to think of their daily routines as trivial. You get up, brush your teeth, have breakfast. Those probably constitute 50% of your life. People think, they're mundane, I don't need to pay attention to them. No, that's exactly wrong. The things you do every day are the most important things you do. Hands down. Just do the arithmetic." On staying within your competence: "Sometimes you don't know how to fix something. Imagine you're walking down the street and there's a guy who's alcoholic and schizophrenic and has been homeless for ten years. That's a problem. It would be good if you could fix it, but you haven't got a clue. You walk around that and go find something you could fix. Just because something announces itself as in need of repair doesn't mean it's you, right then and there, who should repair it. You have to have some humility. You don't walk up to a helicopter that isn't working and just start tinkering away." Peterson shares the key insight: "As soon as you give your mind a genuine aim, it'll reconfigure the world in keeping with that aim. That's actually how you see to begin with. You've all seen the video where you watch basketballs being tossed back and forth, and while you're doing that, a gorilla walks into the middle of the video and you don't see it. If you thought about that experiment for five years, that would be about the right amount of time to spend thinking about it." He explains what it reveals: "What it shows you is that you see what you aim at. If you can get one thing through your head, that would be a good one. You see what you aim at. One inference you might draw from that is: be careful what you aim at. What you aim at determines the way the world manifests itself to you. So if the world is manifesting itself in a very negative way, one thing to ask is: are you aiming at the right thing?"

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This scene from Louis CK's show captures something about love I haven't seen anywhere else: The only thing sadder than feeling pain in the midst of loss is not feeling anything at all, because a lack of emotion would mean you didn't have something worth cherishing in the first place. This particular exchange is about breakups but it applies to any form of loss: moving cities, losing a friend, changing jobs, etc. Here's the transcript: Old Man: So you took a chance on being happy, even though you knew that later on you would be sad. Louis: Yeah. Old Man: And now... you're sad. Louis: Yeah. Old Man: So... what's the problem? Louis: I'm too sad.... Look, I liked the feeling of being in love with her. I liked it. But now she's gone and I miss her and it sucks. And I didn't think it was going to be this bad, and I feel like, why even be happy if it's just going to lead to this, you know? It wasn't worth it. Old Man: You know, misery is wasted on the miserable. Louis: What? Old Man: You know, I'm not entirely sure what your name is, but you are a classic idiot. You think spending time with her, kissing her, having fun with her, you think that's what it was all about? That was love? Louis: Yeah. Old Man: THIS is love. Missing her, because she's gone. Wanting to die.... You're so lucky. You're like a walking poem. Would you rather be some kind of a fantasy? Some kind of a Disney ride? Is that what you want? Don't you see? This is the good part. This is what you've been digging for all this time. Now you finally have it in your hand, this sweet nugget of love, sweet, sad love, and you want to throw it away. You've got it all wrong. Louis: I thought this was the bad part. Old Man: No! The bad part is when you forget her, when you don't care about her, when you don't care about anything. The bad part is coming, so enjoy the heartbreak while you can, for God's sakes.

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