為什麼我決定停止加倉特斯拉-關於投資「信號和噪音」的四個重要道理
Summary
TLDR该视频脚本总结了2024年上半年特斯拉投资者所经历的跌宕起伏,从股价波动到公司内部动荡,再到股东大会的关键决策,展现了投资者如何在市场噪音中寻找信号。视频强调了提高信号与噪声比的重要性,并提出了四个原则来区分真正有用的信息。同时,分享了作者个人的投资决策,包括为何决定暂停增持特斯拉股份,以及如何根据个人情况定义投资信号和噪声。
Takeaways
- 📈 特斯拉股价在2024年上半年经历了剧烈波动,从年初的约250美元下跌至4月的140美元低点,随后在7月回升至250美元。
- 🚀 特斯拉在过去六个月中面临诸多挑战,包括高管辞职、Model 2的传闻、Elon Musk的筹资计划被拒以及超级充电团队的裁员等。
- 🔍 市场对特斯拉的负面报道和怀疑不断,导致许多自称长期投资者的人改变立场,选择在低点抛售并批评特斯拉。
- 🎢 特斯拉股东大会是上半年投资战场的高潮,Elon Musk的新筹资计划和公司总部迁移至德克萨斯州的投票带来了极大的不确定性。
- 🗳️ 投票结果以压倒性优势通过,消除了之前的疑虑,表明Elon Musk得到了大多数投资者的支持,并承诺将特斯拉打造成地球上最有价值的公司。
- 📚 投资中的信号与噪声比是一个重要概念,即有用信息与无关信息的比例。提高这个比例意味着从信息中提取了更多有用内容。
- 📊 频繁观察数据会导致接收到的噪声增多,信号与噪声比降低,因此经验丰富的投资者提醒我们关注长期而非日常股价波动和新闻。
- 🤔 投资者不应将信息误认为信号,真正需要的是信息中的有用信号。获取这些信号需要重视信息来源的质量和自身从信息中提取信号的能力。
- 📚 投资者应通过阅读书籍学习投资和行业的基础知识,以及技术的核心知识,而不是沉浸在消费他人的观点中。
- 🧐 投资个股相较于指数基金更容易让我们处于不利地位,因为个股的股价波动更剧烈,导致投资者更频繁地观察数据,从而降低了信号与噪声比。
- 🌐 投资信号和噪声具有上下文相关性,不同的投资目标、周期、市场环境甚至不同的投资者,他们面临的信号和噪声都是不同的。
Q & A
2024年上半年特斯拉的股价经历了怎样的波动?
-2024年上半年特斯拉的股价从年初的大约250美元持续下跌,4月份跌至140美元以上的最低点,然后在7月份回升至年初的大约250美元水平。
特斯拉在过去六个月中经历了哪些重大事件?
-特斯拉在过去六个月中经历了高管辞职、Model 2被传闻取消后又提前推出、Elon Musk的新筹资计划被法院拒绝、超级充电团队被裁员等一系列事件。
为什么说特斯拉的股东大会是一次关键的决策时刻?
-特斯拉的股东大会是关键的决策时刻,因为它涉及到Elon Musk的新筹资计划和公司总部迁移到德克萨斯州的投票,这些决策对公司的未来有着重大影响。
为什么说投资者在股东大会前的不确定性或恐慌是不必要的?
-因为最终投票结果以压倒性多数通过,之前所有的疑虑和恐慌都被证明是不必要的,这表明大多数投资者仍然支持Elon Musk和特斯拉。
什么是信号与噪声比,它在投资中的重要性是什么?
-信号与噪声比是指有用信息与无关信息的比例。在投资中,一个高的信号与噪声比意味着从信息中提取了更多有用的内容,而低的比率则意味着更多的无关信息,真正有用的信息被掩盖了。
为什么频繁观察数据会导致信号与噪声比降低?
-频繁观察数据会导致接收到的噪声增多,因为日常或每小时的数据观察会大幅增加噪声的比例,而真正有用的信号所占比例则大幅减少。
为什么说更多的信息并不一定意味着更好的投资决策?
-因为投资者真正需要的是信息中的有用信号,而不是信息本身。过多的信息如果没有经过筛选和理解,可能会降低投资的信号与噪声比,导致投资决策的质量下降。
为什么说投资指数基金相比投资个股在信号与噪声比上更有优势?
-投资指数基金的投资者默认心态是长期持有,这无形中延长了数据观察的时间跨度,减少了观察频率,且指数基金的日波动相对较低,这在投资心理上给投资者带来了优势。
为什么说投资个股比投资指数基金更容易受到噪声的影响?
-投资个股的信号更加动态和多变,股价经常剧烈波动,这会导致投资者感受到不确定性,自然会增加获取信息的频率,从而降低了信号与噪声比。
为什么说投资决策应该基于个人的上下文来定义信号和噪声?
-因为不同的投资者有不同的个人情况,包括风险承受能力、资金分配、心理承受力等,因此投资者应该根据自己的具体情况来定义对自己有用的信号和噪声,而不是简单地采纳他人的信号。
为什么视频作者决定停止增加特斯拉的持股?
-视频作者决定停止增加特斯拉的持股,因为他的平均购买价格已经达到了他设定的目标价格65美元/股,这个价格反映了他个人的多种考虑,包括安全边际、仓位比例、风险控制等。
Outlines
📉 特斯拉股价的过山车之旅与投资信号
2024年上半年,长期投资者在特斯拉的投资体验如同过山车。视频总结了这段经历,并提出了投资中的四个重要原则,包括信号与噪声的概念。作者分享了自己作为长期投资者在过去两年持续买入特斯拉股票后,决定停止增持的原因。提到了特斯拉股价从年初的约250美元跌至4月的140多美元,再到7月回到250美元的水平。期间,特斯拉经历了高管辞职、Model 2的传闻、Elon Musk的筹资计划被拒、超级充电团队裁员等一系列动荡事件,市场对特斯拉的负面报道和怀疑不断。许多自称长期投资者的人也纷纷改变立场,选择在低点卖出并批评特斯拉。6月13日的股东大会是这场投资战的高潮,Elon Musk的新筹资计划和公司总部迁移到德克萨斯州的投票,最终以压倒性多数通过,消除了之前的疑虑。
📚 投资中的信号与噪声:提高信号比率的重要性
投资中的信号与噪声比率是关键概念,即从信息中提取有用内容的比例。视频通过《反脆弱》一书中的例子,说明了观察数据频率的增加会导致噪声比例上升,有用信号的比例下降。作者强调,要提高信号比率,需要减少噪声的影响,并理解四个重要原则。首先,信息的来源非常重要,一手信息远比二手信息可靠。其次,投资者需要有能力从信息中提取信号,这需要通过学习投资和行业的基础知识来实现。此外,投资个别股票相比于指数基金更容易受到噪声的影响,因为股票价格的波动性更大,投资者的心理不确定性也更高。
🤔 投资决策中的信号与噪声:个人投资经历分享
作者分享了自己在2024年上半年对特斯拉股票的投资经历,以及如何根据个人情况定义投资信号和噪声。提到了特斯拉股东大会上Elon Musk的新计划和公司总部迁移的投票,虽然这些事件看似与公司基本面无关,但对投资者信心和市场叙事有重大影响。作者认为,即使是短期事件,也可能成为影响公司长期价值的重要信号。此外,作者提到了自己在2018年底开始投资特斯拉,并在2020年5月Elon Musk推文后停止增持,然后在2022年初股价下跌时重新开始增持,直到平均价格达到65美元时停止。
🛑 投资信号的个人化:为何我决定暂停增持特斯拉股票
作者解释了自己为何决定暂停增持特斯拉股票,强调了投资信号的个人化和上下文的重要性。提到了个人投资目标的设定,包括安全边际、仓位比例、风险控制、心理承受能力、家庭资产配置、税务考虑以及个人年龄和健康状况等因素。作者提醒观众,每个人的投资情况都是独特的,不能简单地将他人的投资决策作为自己的信号。最后,作者表达了对未来是否增持特斯拉股票的不确定性,这将取决于个人情况的变化。
Mindmap
Keywords
💡长期投资者
💡信号与噪声
💡股价波动
💡市场不确定性
💡信息源
💡投资基础
💡指数基金
💡投资心理
💡投资信号
💡投资噪声
💡投资决策
Highlights
2024年上半年对长期投资者而言,特斯拉股价波动剧烈,像过山车一样。
过去六个月投资特斯拉的经历教会了我们关于信号与噪声的四个重要原则。
作者作为长期投资者,在过去两年持续增持特斯拉股票后,决定停止增加持仓。
特斯拉股价从年初的约250美元跌至4月最低点140美元以上,7月又回升至年初水平。
特斯拉经历了高管辞职、Model 2取消与提前、Elon的筹资计划被法院拒绝等一系列动荡事件。
市场对特斯拉的负面报道和怀疑不断,许多长期投资者选择在低点卖出并批评特斯拉。
6月13日的股东大会是特斯拉投资者面临的最终战役,涉及新的筹资计划和公司总部迁移投票。
投票结果压倒性通过,消除了之前所有的疑虑。
Elon Musk获得了投资者支持的重要信号,并承诺将特斯拉打造成地球上最有价值的公司。
投资中的信号与噪声比率概念,即有用信息与无关信息的比例。
观察数据频率的增加会导致接收到的噪声增多,信号与噪声比率降低。
不要将信息误认为信号,需要从信息中提取有用的信号。
信息来源的重要性,一手信息远比二手信息可靠。
获取从信息中提取信号的能力,需要深入学习投资和行业的基础知识。
投资个股比指数基金更容易让我们处于劣势,因为个股的信号更动态和多变。
投资个股时,即使是长期投资者,也不得不面对频繁的噪声,这要求我们更好地区分信号。
投资信号和噪声具有上下文相关性,不同的投资目标、周期和市场环境会有不同的信号和噪声。
作者决定停止增持特斯拉股票,是基于个人设定的信号和噪声的上下文考虑。
投资决策应根据个人情况来定义信号和噪声,不应简单模仿他人的决策。
Transcripts
If you are a long-term investor in Tesla
Then the first half of 2024
Will definitely feel like a roller coaster ride
So today I want to make a video to summarize
What the past six months of investing in Tesla has taught us
about the four important principles of signal and noise
Finally, I will share why I
as a long-term investor in Tesla
have been continuously buying over the past two years
Decided to stop increasing Tesla holdings
Here is Tesla's stock price trend over the past six months
From around 250 at the beginning of the year
It kept falling to the lowest point of over 140 in April
So now in July
It has returned to around 250, the level at the beginning of the year
In the past six months
Tesla has been in constant turmoil
Executives resigning
Model 2 was rumored to be canceled and then brought forward
Elon's new fundraising plan was rejected by the court
The Supercharger team was laid off and a series of other events
Bringing countless suspense
The market is full of
negative reports and doubts about Tesla
Many so-called long-term investors of Tesla
have also changed their stance one after another
choosing to sell at a low point and criticize Tesla
The investment scene of Tesla in the past six months
Comparing it to a battlefield is not an exaggeration at all
And this final battle
I'm afraid it's the June 13th shareholders' meeting
Elon's new fundraising plan
and the vote to move the company headquarters to Texas
Before the vote
Tesla investors felt that kind of
extremely high uncertainty
Or even panic
We gradually let some ideas germinate in our minds
Will the vote pass?
Are Tesla's investors divided?
Will Elon take AI away from Tesla?
But everyone knows the final result
The vote passed overwhelmingly
What about those previous doubts
All were completely dispelled
Elon Musk also received an important signal
That is, he has the support of most investors
He also promised to make Tesla into
The most valuable company on Earth
So this matter
actually taught us a lesson
that all the previous drama and thoughts
Most of it is just noise
We only need to see a small portion of people
Speaking loudly can create enough noise
Make you feel panic
Even sell your stocks at a low point
But here is a problem
Looking back at these now
We only realize
That most of what we heard and saw was noise
But when we are in the midst of the whirlpool
How can we distinguish the noise
And avoid its impact?
I think to achieve this
you first need to understand the concept of signal-to-noise ratio in investment
The so-called signal-to-noise ratio simply means
Useful information
That is, the ratio of signal to irrelevant information
We call it the noise ratio
The higher the signal-to-noise ratio
It means that from the information
You have extracted more useful content
Conversely, the lower the signal-to-noise ratio
It means more irrelevant information
Truly useful information is obscured
To improve this signal-to-noise ratio
Reduce the impact of noise
You need to understand the following four important principles
In this book Antifragile
The author Taleb presents a very interesting phenomenon
That is, as we increase the frequency of observing data
The more noise we get
The lower the signal-to-noise ratio
The author says this is not a psychological phenomenon
It more accurately reflects the essential characteristics of the data
He gave an example
Suppose you observe on a yearly basis
Data of a stock
If the signal-to-noise ratio is 1:1
Then when you increase the observation period
When observing every day
The proportion of noise will suddenly increase to 95%
And the proportion of truly useful signals is only 5%
If you change the observation period to hours
Noise will account for 99.5%
The signal is only 0.5%
The noise is nearly 200 times the signal
Actually, this is also why countless experienced people
Remind us to focus on the long term
Instead of daily stock price fluctuations and news
Because this frequent observation
Will lead to what we hear and see
The vast majority is noise
So let's reflect again
The experience of Tesla investors in the first half of the year
Many people follow stock prices every day, even every hour
They look at others' analyses and opinions
They follow various news and rumors
This not only doesn't help
Instead, it puts you at a disadvantage
Because your signal-to-noise ratio is greatly reduced
The noise you receive is
Others who don't pay much attention to daily updates
Long-term investors multiply their investments several to dozens of times
It is no exaggeration to say
For most investors
Watching the news trends every day
Not only wasting time
But also hurting yourself
Second
Don't mistake information for signals
Many of us have a misconception
That more information is better
Mastering comprehensive information
Means mastering the whole truth
Will help you make investment decisions
More confident
But actually what you need is not information
But the useful signals within the information
So how can we better obtain these signals?
First, the source of information is very important.
Primary information is far more reliable than secondary information
For example, the company's financial reports and meetings
Accurate and objective statistical data
CEO
Executives
Technical Team
Even employees' speeches and interviews
These are all very good materials
Although I am a YouTuber
But I want to say
Information provided by YouTuber
Most are not first-hand materials
The so-called summaries and interpretations we do
Often have significant limitations
No one can be completely objective
Everyone will mix in their own preferences and perspectives
If your information mainly comes from YouTubers
or some opinions and emotions on social networks
Then you are inadvertently lowering your investment signal-to-noise ratio
To obtain useful signals
Having only high-quality information sources is still not enough
You also need the ability to extract signals from the information
If you don't have this ability
Even the best sources of information are useless
This is why many people bypass first-hand information
Rely on second-hand information sources like us YouTubers
When you can't extract the signal yourself
You can only rely on others to tell you the conclusion
But the signal others give you may not only be unreliable
Because it has not gone through your own understanding and processing
The conclusions you obtain are also not solid
You do not truly believe these conclusions
When you face uncertainty
You will still be swaying and at a loss
So how should we acquire the ability to filter signals from information?
The answer is go fundamental
Go learn the basics
By reading books to learn about investment and industry
Even the most essential knowledge of technology
Instead of immersing oneself in consuming others' opinions
I made a video a long time ago
Recommended some investment books
Suggest you take a look
Should be helpful to you
Additionally, I would like to remind you
Besides those basic knowledge
As an investor
You also need to continuously learn about the cutting-edge technology in your investments
For example, if you invest in AI and robots
Then you really need to read a few related books
Understand their historical principles and future development directions
Be a good investor
First, you must be a good learner
Third
In this newly created war
Investing in individual stocks makes it easier to put us at a disadvantage
Regular viewers of mine all know
I only have two investments in the stock market
One is Tesla
One is an index fund
They are two completely different investment approaches
Over the years
In terms of the signal-to-noise ratio in investment
These two investments have given me completely different experiences
Here, I will make a simple comparison for everyone
Most investors who choose index funds
Default mindset is long-term holding
This invisibly extends the time span of our data observation
Reduced the frequency of observation
Although many people still check the performance of index funds daily
But everyone is very clear
What really matters is at least a few months
or even the trend over several years
More importantly
Because the daily fluctuations of the index are relatively low
This gives us a great advantage in investment psychology
In the investment summary video at the end of last year
I shared this book
The Uncertainty Solution
The book mentions an important psychological phenomenon
It is human nature to crave certainty
When filled with uncertainty
We can easily become information hoarders
We hope to obtain a large amount of information
to get a definite answer
when stock prices fluctuate wildly
People feel more uncertain
So they can't control themselves to get more information
Increase the frequency of observing data
Leading to a reduction in the signal-to-noise ratio
When investing in index funds
Except for very rare moments
Most of the time its fluctuations are not severe
So people are not easily trapped in psychological uncertainty
To seek more information
In contrast, investing in stocks like Tesla
Although many people, like me, hold it for the long term
But because the stock price often fluctuates violently
Investors will feel uncertainty
Naturally, it will far exceed index funds
Our human instincts will prompt us to check stock prices daily
To obtain at a faster frequency
More information related to this stock
This greatly reduces our signal-to-noise ratio
This situation not only happens to Tesla investors
Investors of any individual stock will face similar situations
Another reason why investing in individual stocks is more likely to get noise is
The investment signals of individual stocks are more dynamic and variable compared to index funds
More dynamic and variable
This leads to investors wanting to obtain reliable and useful signals
It becomes more difficult
Let's take index funds as an example
When investing in index funds
Our signal can be the overall economic trend
People's expectations for the future economy
The overall earnings trend of all companies, etc
I can't say that these macro trends are easier to judge
But we know very clearly
Which indicators we should look at
Even many index fund investors
will not look at these indicators
because they choose index funds
The primary reason is their optimism about the long-term economy
Once your dimension becomes very long
The signals you need will be extremely reduced and simplified
There are about 500 companies in the sample of 500
Index investors don't need to worry
about a company's financial report
or the CEO's political inclinations
What outrageous words did he say today
Who did he have a child with tomorrow
Or is he healthy
But when we invest in individual stocks like Tesla
Even if you are a long-term investor
The signals you need to observe
It is often dynamic and changeable
Let's take the Tesla shareholder meeting
For example, the vote on Elon's new plan and the company headquarters relocation
As a long-term investor
Should you pay attention to such a specific event
On one hand, you could consider it as noise
Because it doesn't have that much to do with the company's fundamentals
Even if the vote doesn't pass
Elon Musk will not leave
It is also impossible to take Tesla's AI and data away
Elon is just simply "threatening the shareholders"
You can even think
Even if Elon Musk leaves
Tesla can still develop well according to the established route
The short-term stock price fluctuations are not worth paying attention to
On the other hand
You can also think of this voting turmoil as not just noise
But as a real signal
Even I agree
In any case, Elon can't leave
But when the public opinion and attention surrounding this voting controversy
When it is big enough
It will affect the judgment of most investors
It can even change the market
The narrative and confidence in this company and stock
When the people of a country lose confidence in the economy
It can lead to deflation
The vicious cycle of economic stagnation
This is even more true for a company
When most Tesla investors
Tesla's employees and the media
both have doubts and distrust towards this company and Elon Musk
when they harbor suspicion and distrust
Its story and fate might be rewritten
In investing
Too many people exaggerate the power of rationality and facts
Underestimated the importance of narrative and emotion
So I personally think
The result of this vote
It is a very important signal
Even if it is short-term
Even if it appears on the surface
It has no direct relation to the so-called fundamentals
Even looking back now
The previous worries seem unnecessary
So you see, investing in individual stocks is like this
You think you are making a long-term investment
You think you can be very chill
Don't worry about short-term confidence and performance
But reality will always
Drag you into a vortex of overwhelming noise
Forcing you to distinguish
Which signals are the ones you really want
If we talk about investing in index funds
Put the eggs in different baskets
Investing in individual stocks is like Carnegie said
Put the eggs in the same basket
Then watch this basket carefully
Want to watch this basket carefully
You have to face more noise
Please note
What we have always been saying is
From the perspective of long-term investors
If you are a short-term investor
I can hardly imagine
The amount of information you have to face every day and every hour
And the difficulty of distinguishing information
In terms of signal-to-noise ratio
A short-term investor investing in individual stocks
It can simply be described as "hell mode"
Your chances of winning are even lower
As for the signal-to-noise ratio in investments
Our Tesla in the first half of 2024
The last lesson it taught us is
Signals and noise in investing have context
context
different investment targets
different investment cycles
Different market environments
Even different investors
The signals and noise they face will be different
The signal you think is accurate
For others
It may be insignificant noise
Vice versa
As an investor
What you need to do is not to argue
Is someone else's noise your signal?
but according to their own context
to choose and define their own set of signals
to achieve logical consistency
Never easily take someone else's signal
as your own
The video starts by saying
I have decided to stop buying Tesla stock
Now I will use this to explain
The concept of investment signals and noise in context
But before we continue
Please give me 30 seconds
To thank the long-term partners of the channel
Interactive Brokers
Since 2022
I have transfered all my Tesla stocks
And my US stock index Funds to IB
The reason is very simple
I buy US stocks in Canada
Need to have currency exchange conversion
Compared to local Canadian brokers
With fees as high as 1.5%
IB's currency exchange fees are incredibly low
Moreover, its currency exchange is very convenient
Besides being good for currency exchange
IB has no fees in many regions
Or the fees are so low that they have no impact
And now IB will also
Pay competitive interest rates for your cash balance
This is very beneficial for investors
Because you can put the cash there to earn interest first
When there is a suitable investment opportunity
You can invest immediately
No need to waste time on depositing funds
Highly recommend you click the link in the comment section
Check out Interactive Brokers
Your click will benefit me
This can be considered as support for me
Okay, let's get back to the video now
Those familiar with me know
I started investing in Tesla at the end of 2018
Continuously buying
Doubled my purchases during the pandemic
May 2020
Elon Musk tweeted
that Tesla's stock price was too high
The price at that time was around 760
Equivalent to after two splits
Now it's around 50 dollars per share
After he posted this tweet
the stock price dropped nearly 10%
That was my last purchase for a while
At the end of 2020
After Tesla entered the S&P 500
I sold a small portion
Then I never added more positions
My Tesla average price has always stayed at
Around 40 dollars per share
Two years later
Starting from early 2022
When Tesla dropped to over 200
I started gradually increasing my Tesla holdings again
I know looking back now
The price was still very high at that time
I can be said to be a typical knife catcher
Left-side trading
But I am very clear
I can't really catch the bottom
and never tried to do so
The reason I started to increase my position at that time
Because I received
A signal I defined myself
Regular viewers all know
I exchanged the Tesla stock I sold
for a vacation rental
The main reason for selling some TSLA
To diversify risk
So when I did this operation
I set a rule for myself
I want to invest all the rental income from this guesthouse
into Tesla stocks
all of it
Because I have long been optimistic about this company
In 2022
My homestay went through
The most difficult period of the pandemic
Started making stable money
This is the signal for me to increase my position in Tesla again
Of course, you can't deny
At that time, Tesla's stock price started to fall
It was also one of the reasons that prompted me to increase my position
At the beginning of 2022
I made a program
Shared my plan to increase positions
I said I will continue to buy Tesla
and index funds
As for Tesla
My goal is to keep my overall average price
below $200 at that time
which is now $66 per share
From 2022 to now
I have been buying continuously
Bought the most this year
The last purchase was on June 11th
Two days before the shareholders' meeting vote
Then decided to stop increasing positions for a long time
The reason is my average price
It has reached $65 per share
My stop-buy signal has appeared
You might be curious
Why do I need to set such a goal
This actually involves investment signals
And the concept of noise context
I set this goal
with many very personal considerations
including the margin of safety I want
Position ratio
Risk control
Psychological endurance
Allocation of overall family assets
Even tax considerations and personal age
As well as many details such as health
These contexts are very personal
So you can't take my goals
Average price and investment ratio
As a signal for your investment decisions
This reminds me of what happened to the interviewee
Former Tesla FSD engineer Lao Yu
The interview I did with him
Was very successful
After the interview
Many people have started to question Lao Yu
Some people say you are so optimistic about Tesla
They think it can be 10 times better
Why don't you increase your position in Tesla
And why not go all in on Tesla
Only let him take 10% of your assets
Some people even say
He still doesn't understand Tesla enough
Or he is just fooling others
You see, this is a typical case of neglect
Context in the signal-to-noise ratio of investment
They assume Lao Yu
Or that I am watching with them
The same set of investment signals
Assuming our personal situation is the same as theirs
This is obviously a misjudgment
The reason investment is complex
Because it is mixed with countless contexts
Someone who started investing in Tesla in 2012
And from 2016 to 2018
People who started investing in 2021 and 2024
Face different contexts
A young person who has just entered the workplace
And someone who is about to retire
Facing different health challenges
A stable and high-income earner
With an emotional fluctuation
...
Is completely different again
Now, back to my investments
For a long time in the future
I probably won't continue to increase my position in Tesla
Only hold for the long term
Then my funds will mainly be invested in
Index funds and my own business
...
So, is there a possibility that I will increase my position in Tesla in the future?
I don't know yet
It depends on my context
So after watching this video
You shouldn't base your investment decisions on mine
...
You can only fully understand yourself
According to your own context
Define signal and noise
Because many times
Although we are all investing in the same target
But we might be in two completely different worlds
OK
So that's all for today's video
If you feel you've gained something
Please subscribe and like
See you next time
...
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