Finance, Investing, Hungrier Capital Allocation
Michael Burry, M.D. is a hedge fund manager that ran Scion Capital LLC from 2000 to 2008. Burry was one of the first investors to recognize the massive excesses taking place in the subprime mortgage market. He bet against some of the more toxic securities and ended up making a fortune for himself and his investors.
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There are certain situations in life that require a very high success rate. For example, a space launch, or providing power to an important building/facility, or perhaps having a working microphone so a speaker can give a keynote address to thousands of people. In these types of situations, we don’t just rely on everything working as planned. We put backups in place. We have redundancy.
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Today I want to talk just briefly about how much money you’ll need to be financially secure. Now, this number varies for each person. And I know that there are numerous ways that you can come up with the amount you’ll need to retire or be financially free, but I prefer to keep it very simple.
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Let’s talk about financial goals. Specifically, when we say that we want to achieve financial freedom, what does that mean? Do we know what we’re aiming for financially, or are we just shooting blindly?
Let’s take some time and begin painting the target before we try to shoot at anything.
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Take five seconds and think about one thing that you would like to spend more time on.
Okay, time’s up. What is it?
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