Realistically, there is only one way to change your life: change the way you think. – Daniel Chidiac
Martin Shkreli on if you should buy a house to live in. Summary:
- Buying a house is always speculation. You don’t know what cities will end up like Detroit in the future.
- If you apply basic risk management, it can be a good idea. Only buy a house less than 33% of your net worth.
- Buying a house requires extensive real estate, macro, and investing knowledge. If you’re an average Joe with no investing knowledge, it’s not a good idea to buy a house.
- Renting a house removes all of your downside risk. Renting has no property tax, no maintenance costs, and you can move any time you want.
A great intro finance lecture by Martin Shkreli.
Shkreli finance lecture 2.
Shkreli finance lecture 3.
Elon Musk predicts AGI by 2029.