TJ Palanca

This is the condensed list of his advice:

• Find humility when things are going right and forgiveness/compassion when they go wrong.
• Less ego, more wealth. Saving is the gap between your ego and your income, and wealth is what you don’t see.
• Manage your money in a way that helps you sleep at night.
• If you want to do better as an investor, the single most powerful thing you can do is increase your time horizon.
• Become OK with a lot of things going wrong, because you can be wrong half the time and still make a fortune.
• Always measure how you’ve done by looking at your full portfolio rather than individual investments.
• Use money to gain control over your time.
• Be nicer and less flashy. No one is impressed with your possessions as much as you are.
• Save, just save. You don’t need a specific reason to save.
• Define the cost of success and be ready to pay for it (volatility, prepare for losses as soon as you enter a risk asset).
• Worship room for error. Endurance is what will make compounding work its magic.
• You should like risk because it pays off over time, but you should be paranoid of ruinous risk because it prevents you from taking future risks that will pay off over time.
• Define the game you are playing and don’t be influenced by those playing a different game.
• Respect the mess. There is only one answer that works for you.