Patience is a Virtue

• DNN (Donny): Called in WC 5/19 at $1.45 and took 25% of profits at $1.86 for a +28% unlevered gain in less than a month.

• TMC (Donny): Called in WC 5/19 in NL to accumulate on pullbacks below $4.00, which subsequently occurred. The stock has since rebounded and was +30% on Monday after the Company announced a strategic investment from Korea Zinc, closing at $5.59 for a +40% unlevered gain.

• RUNE (Fox): Our ongoing NL short on RUNE nears an important target as it reached a local low at 1.418 for a 23% unleveraged move from our 1.845 entry point.

• CELH (Abe): $38.5 calls expiring 6/20 had a gain of 87.74%+ (week 131 win)

• VKTX (Abe): $29 calls expiring 6/13 had a gain of 87.74%+ (week 131 win)

• RKLB (Abe): $29 calls expiring 6/13 had a gain of 27.12%+ (week 131 win)

• CELH (Abe): $38.5 calls expiring 6/20 had a gain of 96.77%+ (week 132 win)

• W (Abe): $43.5 calls expiring 6/20 had a gain of 95.74%+ (week 132 win)

• DDOG (Abe): $121 calls expiring 6/13 had a gain of 100.89%+ (week 132 win)

• TSLA (Abe): $320 calls expiring 6/6 had a gain of 87.74%+ (week 132 win)

• TEM (Abe): $66 calls expiring 6/20 had a gain of 90.48%+ (week 132 win)

• DASH (Abe): $210 puts expiring 6/20 had a gain of 72.90%+ 

• HIMS (Abe): $54 puts calls expiring 6/20 had a gain of 50%+

• UPST (Abe): $60 calls expiring 6/20 had a gain of 92.81%+

• VST (Abe): $172.5 calls expiring 6/13 had a gain of 65.49%+

• CRCL (Abe): $130 calls expiring 6/20 had a gain of 252.22%+

• ARM (Abe): $145 calls expiring 6/20 had a gain of 108.82%+

The Truth About Success

When you ask the average person, they'll say that getting rich is "all about luck." And they're not entirely wrong, but this answer misses a key piece of nuance: your ability to get lucky. Let me explain.

Let's imagine success like a dartboard. If you hit the bullseye, you "get lucky" and win. But in the case of business and investing, our skills determine our accuracy, and our resolve is determined by the number of darts we throw.

If I take a single poorly aimed throw, I'm probably not going to get it (it's still possible, but highly unlikely), and if I fuck it up, I'll only make it harder to try again. But if I go about it smartly and keep trying time after time, I'll eventually hit the bullseye.

Let's use an example of a smart way to build wealth and a stupid way of trying to do so.

Let's say you've been working an office job but have always loved cooking. So you save money, get a loan for the rest, and then open a restaurant. Chances are you're going to fail. Restaurants are notoriously difficult to sustain with high overhead, and you have no experience running a business, let alone a restaurant. This is a terrible way to go about it.

In this example, you're conflating passion with good business, which is already a disadvantage. Then you're going into debt for a business you don't know how to run.

Instead, you think longer term and focus on your goal. If you really want to open a restaurant, you work in actual kitchens, build up experience, and hope you get good enough as a chef that someone will fund you and you can eventually open your own place.

Or you can say, "I just want to become successful." In which case, you'd start very differently. You learn a high-leverage skill, something you can do to help others make money. Get good at that while you work your regular job. In the meantime, you cut spending where possible, sacrifice comfort for capital, and invest your extra money in your own skillset.

Going freelance with a useful skill can easily take you from 4 figures/month to multiple five figures/month. From there, you suddenly have options.

1. We can invest in markets and aim for steady growth to live more comfortably.

2. We can push even more and put that money back into expanding our business. And guess what? You can keep trying with this foundation of high income and valuable skills. In other words, you can now take however many shots you have the resolve for on the dartboard. 

There are a few key differences between the smart and stupid ways. 

The Smart way never completely takes you out of the game; you can build back up when you fail. But if you rush into things, get into debt, and try to chase a passion without the necessary skills, you end up at or below zero, disheartened without a clear path forward.

But fair warning: while the smart way works, it's hard. It requires long-term thinking and a lot of sacrifices in comfort now to live more comfortably in the future. It's not for everyone, but if you have the resolve and are willing to work, even when unsure whether it will all work out, you'll get there eventually.

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