The Inside Word #6 - Captain FI
Jacks Gone- Is it time to look at Twitter? + The Wisdom of Howard Marks.
🚨 New Article 🚨 - The Inside Word #6 - Captain FI
G’day, Money Pals!
In my 6th edition of The Inside Word, I had the pleasure of having a chin wag with the hugely inspirational Captain FI.
For those that don’t know, Captain FI is a retired air transport pilot who was able to call it quits at the ripe old age of 30 after reaching financial independence 🤩🤯
In this interview, we chatted about Captain FIs journey to FI, his thoughts on Crypto, share market myths + much, much more.
You can read the full article via the link below ⬇️
What Caught My 👀 This Week
The worst ever annual inflation in the world? 89.7 sextillion%, experienced by Zimbabwe!
Source: Forbes
#From Around The Web
Jack Dorsey Calls Time @Twitter
After 15 years at Twitter, @Jack has announced that he’s stepping down as CEO of the company he founded and handing over the reigns to Twitters Chief Technology Officer, Parag Agrawal.
Dorsey will remain on the company's board of directors through his current term, then leave entirely in 2022 to focus on his role as CEO of @payments company, Square.
For certain shareholders like host of the Prof G. Show, Scott Galloway, this news has been a long time coming, which is understandable considering Twitters lacklustre returns. Since its IPO in 2013, Twitter has returned shareholders 5.50% vs. +582.64 % for its chief competitor Facebook, over the same period.
Galloway has attributed Twitters underwhelming performance to Dorsey only fulfilling the role of CEO on a part-time basis. No one has been more outspoken on this topic than Prof G, who wrote to Executive Chairman Omid R. Kordestani in 2019, pleading for the “replacement of CEO Jack Dorsey” to no avail. The first sentence of his letter, “A part-time CEO who is relocating to Africa? Enough already” says it all.
Now that Jack and Twitter have parted ways, the company has an opportunity to monetise the influence it commands with a fresh-faced and full-time CEO, ready to spice things up.
In an interview with New York Magazine, Prof G. delves deeper into what the future of Twitter could look like and the “tens of billions of fallow shareholder value” that is there for the taking with Jack out of the picture.
When Howard Marks Speaks, I Listen.
Memos written by Oaktree Capital Managements Co-Founder, Howard Marks have become a ‘must read’ for me in recent years.
Rest assured, readers of Mr. Marks memos are in good company considering Warren Buffetts 2 cents on the matter: “When I see memos from Howard Marks in my mail, they're the first thing I open and read.”
In his latest Memo entitled, “The Winds of Change”, Marks flagged a “New World Order” by stating “words like “stable,” “defensive” and “moat” will be less relevant in the future. Much of investing will require more technological expertise than it did in the past. And investments made on the assumptions that tomorrow will look like yesterday must be subject to vastly increased scrutiny.”
If what Marks predicts eventuates, companies will need to innovate smarter and faster than ever to ward off the intensifying competitive landscape.
Anecdotally, Marks memo re-iterates the difficulties stock pickers will likely face going forward, as the pace of innovation accelerates and barriers to entry are eaten away.
In other words, the appeal to index investing will only become stronger, as stock-picking becomes more difficult.
I’ll let you make up your own mind.
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