Happy Father’s Day!
Sweaty Hats
“If I am anything, which I highly doubt, I have made myself so by hard work.” —Sir Isaac Newton
Markets continued their move upward, as the S&P 500 rose 1.6% on the week, and the Nasdaq saw a 3.2% gain.
Becoming good at something takes work. Whether it’s business, investing, a sport, or some other career or hobby, it’s hard to become one of the best without significant time spent practicing.
In his press conference following his victory at the 2024 Memorial Tournament a week ago, Scottie Scheffler, the #1 ranked golfer in the world, discussed how he motivates himself to keep putting in the work:
I feel like I put in an awful lot of work into this game, and just because I got to number one in the world doesn't mean I'm going to stop working. I always think about, in my gym at home, I hang some of the hats that I grew up with. I remember when I was a kid, and I got a cool hat, I would wear it the whole summer. And I would sweat through the hat—and they're just disgusting and gross. And I hang them in my gym so when I'm back there working out, I remind myself that just because I got to where I am now, it wasn't just because it just happened. I remember all the work that I put in, all the balls that I hit, all the amount of time I spent out there sweating in the sun and putting in the time and the effort in order to become good.
...Those hats are pretty gross, but they're good motivation.... It just reminds me of putting in the time and the effort when I don't always want to go back into the gym and work out... I feel like I'm called to do this to the best of my ability, so when I go back there, and I'm putting in some work, sometimes you need a little extra motivation—and those hats are just reminders for me of the work that it took to get here. And I don't want to let it go to waste.
So whatever you’re trying to get good at—possibly investing, for the readers of this newsletter—remember that it takes work to get great. Some days, it will feel easy, while others will feel impossible. But, day by day, a consistent effort to improve eventually leads to results.
“To be great at something, you don't need to be special. You just need to be what most people aren't - Consistent. Determined. Willing to work for it. No shortcuts.” —Tom Brady
“The harder you work the luckier you get.” —Ben Franklin
"Hard work, honesty, if you keep at it, will get you almost anything." -Charlie Munger
Tweets of the Week
In Case You Missed it…
Apple Intelligence is Right On Time - by Ben Thompson
How FOMO, Doom, and Ego Impact Your Money — ft. Morgan Housel | Prof G Markets (video)
The Knowledge Project Podcast: #196 Brent Beshore: Business Brilliance and Happiness at Home
Capital Allocators Podcast: Graham Weaver – People-Driven Private Equity at Alpine
The JRo Show Podcast: Interview with Bill MIiller IV of Miller Value Partners
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