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“A contrarian isn’t one who always objects — that’s a conformist of a different sort. A contrarian reasons independently, from the ground up, and resists pressure to conform.” -Naval
I sat down across from one of my friends, the youngest almost billionaire I know, whom you’ll be hard-pressed to find on the internet. We have a habit of late nights, good wine, and tough questions about the world around us.
If I’ve realized one thing in life it is that more than anything you need to cultivate who you bring into your life, and when the special ones call. You need to show up. That’s what I do every time this friend calls. And this night he told me something that certainly changed my life...
BUT FIRST: A CONTRARIAN THOUGHT
Have you watched the news lately and smelled something fishy? Have you listened to politicians and thought, they can’t be serious? Have you wondered at some of the happenings in the world and thought, man the echoes from this are a bit scary. Am I the only one seeing this? And really I can’t be right, because then what are we going to do about it?
I certainly have thought these things. That is why this post came to me today. Because perhaps more than only thinking we need to build our bank accounts, we need to start thinking about how we can civilize our minds. Civility > civil war.
Lessons From An Almost-billionaire
One night in particular I was speaking to him about how he made his massive fortune. I sat digging into frameworks, ideas, looking for things to replicate and lessons to learn.
The simplicity of his reply surprised me. He said, “I train my brain to perform one task incredibly well. One task alone... to never conform.”
I took that in for a moment. He believes his wealth comes from his ability to reason independently. Interesting. He doesn’t know it but that conversation started Contrarian Thinking.
As the light continued to fade and the wine flowed we talked about how every thought that’s in his head must compete for the title of being right. That training your brain to become an unbiased boxing ring where the ideas punch and jab until one falls is the work of a lifetime. All he works on is building and bettering the ring, then letting the chips fall where they may.
The formula seems to go like this (excuse his words put into my framework):
The Funnel to Nonconformity:
Become a funnel for ideas
+
Let ideas fight based on merit, not emotion
+
Find the courage to act in nonconformity
=
Opportunities others never see or are too scared to act upon.
An uncrowded market leads to outsized returns in life, happiness, and wealth.
So I sat, my eyes downcast into my wine thinking about how one can build a ring of reasoning? This is what we came up with, may it serve you.
I think in this world today the MOST POWERFUL thing you can be is a contrarian. May I implore you, do not let your ability to question be lost in the tides of political correctness.
I call this my Ring of Reasoning:
Never conforming, always questioning. A path to becoming a contrarian, to never let others plant ideas in your mind that aren’t vetted, a way to becoming truly sovereign.
#1 Don’t Believe In Anger
Anger is useful in physical fights but a killer of logic. It’s a trick of the mind pushing you into a fight or flight. Let me tell you what you can’t do well when you’re fighting or flighting... think.
Remove your anger before you review a situation.
#2 The Controversy & Conformity Conundrum
There is a spectrum where controversies and conformity sit on two ends of the line. The more you conform the less controversial you’ll be.
And yet, most of the wins in life land on the edge of controversy.
Choose your controversy wisely, but choose it. Oatmeal will never get a Michelin star.
#3 Reading As A Diet
Be careful what you read, it becomes the way you think.
Words are heard, then internalized, then repeated, and then habituated.
Curate what you let into your brain as you do with your body.
#4 Ideas Strongly Stated & Loosely Held
Having a strong opinion is the mark of intellect but having the ability to change it is the mark of true intelligence.
Only politicians hold one stance forever for fear of flip-flopping, we mortals do better to constantly experiment and evolve.
#5 Share Your MVP’s
Every time you produce a product or idea, more come back ten-fold.
So don’t make it perfect, make it done. Then let the market decide.
#6 Warren Buffet Doesn’t Optimize
Wake up at 5 am, meditate, work out, drink 72 ounces of chloride water, and stand upside down.
Ok.
Or do none of those things and instead focus on thinking clearly, intently, and strategically before you pull any triggers.
#7 Boredom As a Superpower
The best ideas need breathing room. They’re a flower stretching for the sun. Clutter them with meetings, pick my brain sessions, coffee dates, and watch them die.
Instead, he clears his schedule every morning with no calls prior to 10 am.
I do the same, paired w/ 2 no-call days a week.
Boredom = sunlight.
#8 Numbers > Narrative
Anytime something is common practice, check if it’s common sense.
Return to the very first principle there is 1+1 = 2.
Numbers are often terrible liars.
#9 Can You Explain it to Grandma?
Take that shiny new idea in your head and go explain it to your grandma.
Can you take the complex and make it simple? If not, you don’t know enough.
Strong beliefs paired with little knowledge is a dangerous spot to operate.
#10 Every New Learning Is A Little Death
Your skin regenerates itself every 72 days completely.
Your ideas need an equal level of velocity and regeneration. Challenge the old ideas and let them be reborn into something better.
#11 The Toleration Challenge
What if your intellect is measured by how much truth you can tolerate?
Can you be told you’re wrong, and that dress makes you look fat, and you’re getting older, and he’s smarter than you, and take them all in stride?
The truth shall set you free is... a truth.
#12 Trust the Process there are no Shortcuts.
Shortcuts and get-rich-quick schemes will get you lost.
Forget the outcome, focus on the process, and watch your destination appear.
#13 Never Forget Failures
He keeps a collection of old failures on a wall for all to see.
Most people hang medals, he reminds himself of scars gotten and mistakes mishandled. It keeps you honest.
#14 The Gift of Dissent
Sycophants (yes men) will kill you faster than dissent.
Surround yourself with unruly individuals who make you stand your ground or berate you for not.
#15 Speak Truth, Even When It Hurts
You don’t really hold an idea in your head until you can say it with your lips.
Idea, Word, Action.
#16 Fluid Intelligence Acceleration
Fluid intelligence is the capacity to reason, make connections, solve problems, and consider abstract concepts.
The fastest way to grow it? Read...widely, voraciously, and continuously.
As we come into the New Year, as the world around us becomes more complex, as personal sovereignty and freedom more important... we have to realize, it starts with us.
He left me with 5 books in our last conversation to read and ponder, may the serve you two:
It is not the tactics of money-making that truly matter.
It is not me teaching you about buying boring businesses, or about finding the right investment allocation. The most important thing you can do is to train your brain to seek the ideas that stand on their own two feet.
It’s the work of a lifetime, but the only one that stands the test of time.
If this resonates with you I might suggest a small path to learning, a deeper dive, and a rabbit hole to explore. I’ve yet to meet anyone, billionaires included, who didn’t benefit from learning to take ideas and hold them up to trial in their minds. Your decision-making is what makes you different from a monkey, if you grow any muscle, make it that one.
Masterclass on Contrarian Thinking:
Books: (I’d recommend picking up the old school paper version, I find myself writing, underlining, and turning back again and again).
Dune - It’s fiction but read into the parts on training your mind. This quote is one I repeated to myself while summiting Mount Baker in a blizzard, when I’m surfing, when I’m boxing, when the scary things are too much.
“I must not fear. Fear is the mind-killer. Fear is the little-death that brings total obliteration. I will face my fear. I will permit it to pass over me and through me. And when it has gone past I will turn the inner eye to see its path. Where the fear has gone there will be nothing. Only I will remain.” - Dune
Think differently, always,
Codie
"Why Buying Unconventional Businesses Will Help You Gain Financial Freedom", a podcast with Codie Sanchez
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Disclaimer – This is the “Be an adult” section. Everything mentioned above isn’t advice, just a recount of what I did. That said: This article is presented for informational purposes only. The opinions stated here are not intended to recommend any investment or provide tax advice. Neither are they an offer to sell or the solicitation of an offer to purchase an interest in any current or future investment vehicle managed or sponsored by Codie Ventures, LLC or its affiliates. All material presented in this newsletter is not to be regarded as investment advice, but for general informational purposes only. Day trading and investing do involve risk, so caution must always be utilized. We cannot guarantee profits or freedom from loss. You assume the entire cost and risk. You are solely responsible for making your own investment decisions. We recommend consulting with a registered investment advisor, broker-dealer, and/or financial advisor. If you choose to invest with or without seeking advice from such an advisor or entity, then any consequences resulting from your investments are your sole responsibility. By reading/sharing this newsletter or consuming our content on our other channels, you are indicating your consent and agreement to our disclaimer.
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