Shorting GM is one of those Warren Buffet things.
ie. back when car companies started 100 years ago, he said it was impossible to pick the winner as there were 1000's of new companies trying to get into making cars.
WB said your best bet was to short the companies that serviced/made the horse tack, wooden wheels etc. They all went out of business.

Things I did this/ last2 week(s) to further my goals.


1) Work as a PM for other company Finished for now.
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2) Delta Warehouse, Tenant paid another $1000, of his outstanding damages.
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3) Equities Investing. More investing. Last week I purchased more Tesla at $216/Share. this week $204/share. Seemed to buy at the high point last week.
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4) Paid my Property Tax for Hamilton. Got the invoice in the physical mail. Asked if i could log on and check/get my billing online. The said yes, but that the Confirmation number to log in would be mailed to the house address in Hamilton. Told them it was a rental. .. Sorry no, we do not mail it to the owner's address, only the address of the unit being taxed. UGH.
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5) Edmonton RE. On hold for now.
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6) Realtor License. Waiting for course to start.
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7) RE meetups: free food at the Feb 18 meetup, sponsored by huge REIT and other companies. Donkey I am, I missed the Feb 22 meetup.
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8) Detroit homes: no update. US Corporate taxes are finished. Invoice was $5260. Personal US taxes are under way.
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9) Vancouver Warehouse. Electrician got access, waiting for a quote. Paid the Property Tax on this.
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10) Wainwright Storage. Waiting for next meeting.
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#12 Dream of the Red Chamber P280, still don't know what the story is about. Really it is a classic, but classic as in an episode of Seinfeld which is really about nothing, Game of Thrones in that there are many many characters and who you think is the main character from first 10 chapters are not in the last 5 chapters. it seems to be a nice description of an ancient Chinese society/ families with distant ties to royalty and translated into 1800's English. I am 100% sure I am missing 95% of the cultural references. I assume there is a lot of meaning when X bows to Y or X says zzzz, there is some cultural reference. It is like saying Picard and Dathon at El-Adre Only a Star Trek fan would know what that means.
I only caught one when they mention No-Cha, a child hero in the Chinese pantheon of heroes.
Words in the last 4 pages include
persicary ??, appellation, unpropitious, extoll, variegated, outvies, hillocks, nugatory, felicitous, fain, arrogate, eulogisum, forsooth
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#13 Had a 90 minute meeting with the accountant. Made a list of 15 action items for me to do. Set up new classes of shares, etc, discussed PREC and shareholder dividends, etc. Set up online CRA for Company and Switched to the new accountant as authorized to access the online info.
Lots of work to do here. I am glad I have time to work on it.

There are so many ETFs now even for individual companies. For example there is a Tesla short ETF TSLQ. All it does is inverse Tesla. If there was one of these for GM or even an industry ETF that shorted a basket of old car companies that could be the superior vehicle to short vs individual names directly. That's what Nador and I see. It's the level of risk with shorting individual stocks without a hard stop loss. Longing a short ETF would limit downside to 100% loss vs a stocks potentially infinite loss. I don't know of a perfect ETF but maybe there will be a "Traditional Car Company Short" ETF at some point. They had a Brick and Mortar retail short ETF EMTY and CLIX. Just offering an opinion with good intentions. Congrats on all your success.

Covered puts or just directional buying monthly puts might be good possibilities too.

I mean if he's shorting GM he should be buying deep OTM calls to cover his risk.

I consider myself mostly a real estate investor.
10 out of the 13 things i have on my action list are all related to Real Estate. The investing thing (1 out of 13) i do on the side. I have never used a put or call before.
One of the two main reasons i put the narrow investing focus on Tesla and GM is that I watch what is going on and ignore all of the talking heads who are focused on the short term. I am usually up before 6:30am to watch the market open and Tesla is always in the news. All of the advisors treat Tesla like it is just a car company.
Very similarly like I used to scoff at Apple (thinking it was just a computer company) going to get crushed by IBM!!!! How old do you have to be to think that!

The Second main reason is that I drive my Tesla every day and am just shocked at how much I save/make on that car.
I did not mention before that as a Property Manager, I was paid mileage by my company .. I received 60c for every kilometer I drove to do showings, unit inspections, move-ins, move outs, meetings with new clients.. etc. 400km of driving = $240 paid to me. Used to cost say $120 in gas. Now it costs $20 in electricity.

Couple more Buffetisms. Ignore mister market. He told shareholders that almost all of his most colossal errors were in not buying a stock when he should have.
He mentioned many companies like Google, Wal Mart and others that he was offered early on , but did not buy. WB and Charlie Munger have chosen BYD over Tesla, so it is not like he did not invest in EV's, we will have to wait 5 years to see how that turns out. I am pretty sure BYD will do well because they can and will just copy whatever Tesla does in its GigaFacory in China.

I will be watching to see if my Real Estate portfolio under or outperforms my Tesla stock in the next 5 years. My prediction is that Tesla will outperform.

I compare what I hear on the investor news to more technical news for nerds like me from guys like
Sandy Monroe. https://munrolive.com/

1) Rental Management: No action.
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2) Delta Warehouse, Tenant paid another $1000 today ! Will check and see how close they are to being fully paid up next post.
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3) Equities Investing. More investing. Purchased more Tesla at $206/Share a couple weeks ago. Last week $190/share and $181/share. Waiting to see if the bank fallout will cause another crash.
before I buy this week.
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4) Hamilton House. Dealing with pests in the void spaces
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5) Edmonton RE. On hold.
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6) Realtor License. Practical course started on Monday. Is online and not difficult. I think is more of a participation thing and just a way for the governing body to charge the members more fees.
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7) RE meetups: Had a first meetup with the investors from #10. Nice People. I trust the General Manager. We went to another paid RE group meetup called REAG Real Estate Action Group headed by Ozzie Jurock and Ralph Case. The talks and quality of participants is a level above the normal free meetups. I will likely add this to my regular meeting schedule.
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8) Detroit homes: Believe it or not, the tenant that was ordered out of my house at 22444 X. Kane is still there.
From a discusson between my PM and our Lawyer:
Yes, The CD means Conditional Dismissal: it means that the case is dismissed as long and the conditions is met. in this case the condition is that the tenant has to leave by 2/28.
since this condition is not met, then we have to file Reinstatement (reopen) the case and file an affidavit to enter the judgment and writ

The fee is $250 to reinstate the case
$150.00 to file the affidavit of Default judgment
$100.00 for the writ

More money to get a writ and will also cost me to hire a Bailiff. If Shea Post's a video of the eviction, I will post it here.
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9) Vancouver Warehouse. Instructed the Electrician to proceed with the electrical upgrade.
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10) Wainwright Storage. Closed and we had our first meeting. I have known the General Partner for around 5 years, and this is my second investment with him.
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New #11) Sarnia Ontario. the General Partner with #10 also manages a property that I invested in about 3-4 years ago. He informed me that he had a realtor that approached him regarding this property. In actuality, He and some other partners invested in adjacent properties and he now has 3 in a row. I think one is a single family, ours is a 20 unit and on the other end is a 4plex?
Not sure of the details of the other properties, only that the realtor represented a party (an institutional investor or developer) that is interested in all 3 lots. It helps that all 3 are fully rented and professionally managed. He told me that he gave them a very high value (because we were not interested in selling). They came back and said that they were interested! Will see how that turns out. Thee green houses turn into one Red Hotel... Playing Monopoly when I was a kid pays off!!
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#12 Dream of the Red Chamber Finished.
current book Ready Fire Aim by Masterson. This relates to sales of product and information. Not sure it applies to my specific area but maybe I can find one or two good ideas. So far,
the key concept i have made note of is "Fail Faster."

A photo from my Detroit Landlord

1) Rental Management: No action.
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2) Delta Warehouse, Waiting for April payment due on the 15th. Tenant has paid $10,204 out of /$17,500 owed.
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3) Equities Investing. More investing. Purchased more Tesla at $193/Share a couple weeks ago. Two weeks ago $197/share and $194/share last week.
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4) Hamilton House. No Issues. Tenant paying rent on time. Will check the utility payments this week and email the PM.
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5) Edmonton RE. (Apartment Building) On hold.
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6) Realtor License. Finished the Practical course. My realtor license is active as of Today! Office orientation on Thursday- Business cards, office email, signs etc. Will have to think this out as to what my goals for this are in the short term. There was a form that asked what % of my work time will be devoted to RE as I assume many Realtors have other jobs besides having a trading license. I put down 20% but I really don't know. I am not sure if I want to use my license to actively sell real estate instead of just using it for my own personal and family business.
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7) RE meetups: Did another meetup two weeks ago but via Zoom. Would like to do more in person. I hope there is/are one per month for the Brokerage that I belong to.
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8) Detroit homes: The long awaited eviction finally happened. The first video is 55 minutes long. Long breaks between talks.

Nothing much happens in first 14 minutes.
11:40 22444 S. Kane Detroit Mi. The middle 4 is missing on the house.
12:45 Tennant called the Cops and told them ... Landlord has guys out here with guns.
14:30 Look at all these police.
22:50 Never Fails. Wait till the last minute till someone puts them out.
29:50 A view of the cops standing by...
41:00 Rico is the Locksmith.
45:00 a view of the inside
https://www.youtube.com/watch?v=H5Sgu6gLA_U

Only the first few minutes of the second video are important. Shows the Dumpster Completely FULL!
https://www.youtube.com/watch?v=WrJQfp9PDlY

Will be doing a major reno on this and getting it ready to rent out. The tenant on lease was the grandmother of the two people who
were evicted. They convinced her not to pay. She was there for 8 years if I remember correctly. Only minor repairs done
in the last 8 years. I am guessing $10k for renos to get this rent-ready.
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9) Vancouver Warehouse. Electrical upgrade completed. Tenant's rent increases next month. Will send a reminder note and email partners re: if you want a bump in the payout.
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10) Wainwright Storage. nothing to report.
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New #11) Sarnia Ontario. Apartment. nothing to report.
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#12 Ready Fire Aim by Masterson. Finished . Currently reading the Bible-New Testament and Animal Farm Orwell.
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#13 Other: There was a cash call on another property I invested in in Plano Texas. Will be wiring $19,600 USD to the PM. The PM is giving up some equity as well.
Will only post about it if people ask.

Quick update on #8
My PM Shea Woods is worth Gold.
Around 2:45 into the first video, you can hear him saying "Warriors Come out to playay."
It made me laugh as it comes from a 79' movie called "The Warriors"
https://www.youtube.com/watch?v=7UEmYGp5VxY

Demo and hauling away waste from eviction house.
https://www.youtube.com/watch?v=sgo4i-rr2WQ

Angry Al filling up a Full Load
Not much to see till around 4:50
https://www.youtube.com/watch?v=iZ8d6oDNdC8

can we get a quick summary of where you're at vs where you expected to be, regrets/would do again etc

It is very difficult to say exactly where I should be in my quest. Lets say I am Six years into this plan.
If I had to give a single metric ie. How much passive income I make per year net, I would say I am no better than where I was 5 years ago!

In reality there are multiple metrics that I use to grade my progress. Five years ago If a project I had invested in, got into any type of trouble, I would scratch my head and hope for the best. Now i can take over any project and run with it. (Except the very large ones where I am an investor only and have no equity stake.) Those projects, like the typical Western Wealth Capital ones, have 300-400 units and are raising 50M-100M. From my point of view, any project under 5M in Canada, I could take over and run it.

1) Education Is on Track. Currently hold 3 licenses for Real Estate. Strata-Rental-Trading. There is a huge amount of resource available to help get new Agents into selling mode. CRM software etc. I am ok with sales as I used to do lots of Cold Calls when I owned my own business, but not sure I will sell/buy a single property outside of my personal family. The primary reason to hold the agent's license is for my Mother. She turned 90y old this year and is sitting on over 10M in RE that will not be sold until she passes. If that is not for another 10 years that would be great. My mother in law is 89 and is sitting on about 2.5M in RE. Similarly the property will not be sold until she passes. Both families would be looking to me to eventually dispose of the RE.

2) Real Estate investments are on track. The type of investment has slightly altered because of the increase in interest rates. I was unable to pull the trigger on a new apartment building to step up additional passive income. The type of investments are now more locked in more long term (with other investors) acting as the General Partner. This has resulted in a much lower actual passive income from RE. Ie. I am more or less at the same place as I was 5 years ago. $4K USD/m and $5K CDN/m. from real estate investments. The big difference is that I am sitting on a large pile of cash and have put it into a GIC around 4%. That is another $5k CDN/m. Waiting for cap rates to expand or for a real recession to hit. I want a deal and am continually going to RE investor meet ups. These numbers are the only ones that I use to estimate my passive income. Income from "Working" as a property manager or realtor do not count.

3) Equities Investing is slowly building over time. I am maxed in Canadian TFSA/RRSP's etc.

4) Income is not a steady monthly flow. As the interest rates fluctuated, I ended up being very active last year, selling a Warehouse in Greater Vancouver, Selling a house in Michigan and buying a house in Hamilton Ontario. Selling high and buying low. Waiting now to buy more low.

I don't know what the correct term is for what I am doing now. Passing time? Aggressively waiting? I have put on the back of my new Real Estate Business Card

"Building Wealth one S.B. at a time"

this comes from a local specialist who give a RE talk every month. S. B. could be Strategic Buy, but it is not.
This RE Pro says get out there and keep making Stink Bids. AND never be offended by the term Stink Bid. This is your legitimate best offer TODAY. His advice is to never leave a deal without making an offer. They might hate you, they might not talk to you, but this is your legitimate bid, and you never know what might happen. They might call you back in 1 year since they never got a second offer from ANYONE!
Now that I have my License, I will have to come up with a process of making at least one Stink Bid/month or even One SB/week if things get exiting.

Right now at the top of my list is to do some deep soul searching and set some new short term goals. 6 month, 1 year, 2 year goals.
What gets tracked, gets measured, and what you measure on a regular basis improves and/or you make progress in completing.

Update on #8
message from my PM. re:22444 S. Kane

the following video's will give you a great look at everything that is getting done on Kane. We had to upgrade the electrical because it was not up to code, there was no GFCI in kitchen or laundry room, those are required near water usage in kitchen, bathroom, and laundry room. the old box didn't have circuits that would allow us to do it, electrician came in and changed the box to 100 amp meter box which is city code, plus new light fixtures throughout the house and all new light switches and 3 prong plugs throughout the house.

Plumbing was so bad, I don't even know how they were even washing up, plumber has done a lot of work to get this right, all major drains was backed up and backing up into basement, you can imagine the smell in that basement and throughout the house, of course the entire house is being painted, it was so much grease on kitchen walls and ceilings, that painter had to spend a few days just trying to break it down so it can be painted, there is a lot going on, and hopefully we can be done in a couple more weeks, maybe less depending on funds, between the 5k cera funds and some rent money , we are ok for now, but we still have to get the floors done, kitchen will be plank flooring and hardwood throughout the house, We still need bedroom doors, and we will have to put new doors in for entry doors,,, 3 security doors and 3 steel entry doors. My goal for rental when im done is between 1100 to 1200 per month, I know you guys are really busy, so watch video's when you can.

You will see everybody doing what they are hired to do, and more video's to follow as time goes by, and then the completion, which I'm really looking forward to, thank you. Get some popcorn and enjoy the show.

https://www.youtube.com/watch?v=sgo4i-rr2WQ
https://www.youtube.com/watch?v=aojLctWd67I
https://www.youtube.com/watch?v=LiMs8TCve98
https://www.youtube.com/watch?v=jVClXTRZi38

Was sick for a whole week at the end of April.

1) Rental Management: No action.
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2) Delta Warehouse, Waiting for April payment due on the 15th of April. Tenant missed April payment. Emails sent to tenant.
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3) Equities Investing. More investing. Purchased more Tesla at $171/Share.
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4) Hamilton House. No Issues. Paid the Utilities and sent the invoices to the PM.
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5) Edmonton RE. (Apartment Building) Found a possible candidate. 2.8M property 25 units. 22 residential mix and 3 commercial units. Had a fire and is listed for $850,000 now and is vacant.
I emailed my Edmonton Realtor and one of my investor partners. This is the partner that purchased a storage facility in Wainwright Alberta. He is scheduled to fly to Edmonton on the 15th then drive 2h 15min east to Wainwright to work on the Storage. He has done about 20 reno turnovers... and this property would be right in the zone for a step up in renovations.
Previously he has only done 1-2 renovations when units have turned over in our/his current portfolio. I trust his estimating skills and so was trying to arrange for a walk through of the property around the 15th.
My agent called me yesterday and said that they have 3 offers on the property and 4 pending. The owner has made no decisions as the insurance adjustor has not finalized any numbers with them as of yet. My agent expects that they will have a fixed insurance amount by this Friday and that the owner will (likely) make a decision after getting that number.
If the building is still not under contract by the 15th then we will try to arrange for my partner to do a viewing.
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6) Realtor License. Picked up my business cards. on the back is a quote/phrase. "Building wealth one S.B. at a time." SB could stand for Strategic Buy but it really stands for
Stink Bid. It is a phrase frequently used by a locally famous Real Estate Speaker.
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7) RE meetups: I joined REAG. Fees are about $150/month "Real Estate Action Group." The speaker from #6 is the host of this investing group. This group is a level above the Mogul Investing group that I also attend monthly. The investors in this group are on investment +5.
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8) Detroit homes:
My PM working on the floors in the house. 1:00 - 5:45
Unfortunately there are no hardwood floors in the kitchen. He will have to install something else there.
https://www.youtube.com/watch?v=_CMTkbzZaoM
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9) Vancouver Warehouse. Nothing of note.
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10) Wainwright Storage. GP is flying out to Edmonton-Wainwright on the 15th to work on the facility.
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New #11) Sarnia Ontario. Apartment. nothing to report. Paid utilities and forwarded invoices to PM.
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#12 Finished reading the Bible-New Testament and Animal Farm Orwell. Currently on Page 330 of JACK Straight from the Gut. (by Jack Welch CEO of GE for 20 years.)
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#13 Other: Still meditating on what my short term goals should be. On a side note, My mother, who is 90y old, lives in a key piece of property in a development zone.
The builders that own the two adjacent properties have been trying to buy her house for +10 years. The builders have finally given notice that they are starting to build
on the adjacent two lots. The price/value of her property would be +1M if she/we sold it to those developers. My family has been firm that we would not sell it while
my mother was still alive. We have received 8 figure offers on the property before and said no every time! May only receive high 7 figures when we eventually sell. Oh well.

#8 Another quick update
Installing a new kitchen at the eviction home in Detroit.
https://www.youtube.com/watch?v=vvsoa0Fe1LQ

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#12 Finished reading Jack. reading Zero to ONE by Blake Masters. (Currently running for US Senate)
Book is on New product Start ups. Were there was no product before.. create at new product.

1) Rental Management: No action.
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2) Delta Warehouse, Tenant missed May payment. Tenant says they are moving again. Likely forced to. If they declare bankruptcy I will likely get $0. If they successfully move and advertise a new address, I will have an address for serving notice. I have had a meeting/quick discussion with my lawyer. the three basic options are
a) both co-tenants Bankrupt, $0
b) litigation for $35,000 in small claims minus how much they paid. Lawyer would get $17.5K , I would get about 9K. (They have paid $8.5k so far.)
c) arbitration in CRT (in Canada that is a quasi legal federal body, Civil Resolution Tribunal) for claims $5k max. I would get the full $5k, and pay $150 or so for filing my own claim.
I have only run two cases in CRT, but that essentially makes me an expert!
Will wait and see on this item. I have 2 years from point of last payment to file a Notice of Civil Litigation if we go for option b). Same for option c)
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3) Equities Investing. More investing. Purchased more Tesla at $199/Share last week and $214 this week. Weeks ago I tried Shorting BUD when the Fiasco started, at $64/share twice, was refused both times. As of today BUD is $54/share.
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4) Hamilton House. No Issues. Paid the Utilities and sent the invoices to the PM again.
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5) Edmonton RE. (Apartment Building) No action. Realtor did not contact us, so I assume it was sold to one of the 4 offers.
I have added myself to a email list for daily listings in Las Vegas Low % chance I will purchase something here, but
I have thought of adding the category for the worst hit real estate (Commercial Office) and worst City that I am interested in
LV. That way I can get the added bonus of writing off trips to LV as business trips in my Company. I know of only one other
close friend with RE in LV.
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6) Realtor License. Have to pick up my completed lawn signs.
attended a Zoom lecture on AI in Real Estate. I was very impressed. I will need to meditate on this and think about how/if I can convert this into
more earnings/gains/wealth building.
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7) RE meetups: Went to 2 more meetings. Added maybe 5 new links on Linkedin. Passed out more cards.
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8) Detroit homes:
Kitchen Floor 2:30
https://www.youtube.com/watch?v=H9tS0pNJYXk
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9) Vancouver Warehouse. $13,274 Property Tax due beginning of next month.
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10) Wainwright Storage. No Update.
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#11) Sarnia Ontario. Apartment. nothing to report.
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#12 Finished reading Zero to One. Currently reading A Tale of Two Cities, AND Discipline Equals Freedom by Jocko Willink.
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#13 Other: Have to clarify my short term goals for #6. Complete field assignments.

Ok so I have to post now. See #13

1) Rental Management: No action.
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2) Delta Warehouse, Tenant missed June payment.
Will continue to wait and see on this item.
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3) Equities Investing. More investing. Purchased more Tesla at $246, 270, 260, 245,279. $268.
---------
4) Hamilton House. No Issues. Paid the Utilities and sent the invoices to the PM again. Collecting rents on schedule now.
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5) Edmonton RE. no Action.
Las Vegas Low % chance I will purchase something here, but still looking at daily email choices.
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6) Realtor License. Taking lots of online courses on the Software used by my Brokerage and Greater Vancouver Real Estate Board.
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7) RE meetups: Went to 2 more meetings. Added maybe 3 new links on Linkedin. Passed out more cards.
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8) Detroit homes: No action worth mentioning.
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9) Vancouver Warehouse. Rents increased and payout to owners also increased.
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10) Wainwright Storage. No Update.
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#11) Sarnia Ontario. Apartment. nothing to report.
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#12 Finished Tale of Two Cities, and Discipline Equals Freedom. Currently reading Elon Musk bio.
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#13 Completed 2/6 field assignments. Working on getting more direction by taking the Future Authoring Program by Jordan B. Peterson.
One of the exercises is about being more competitive. This is what I wrote in that section (2000 characters max)

So there is a story about not giving up .. being more competitive. The two words are not interchangeable, but they are close enough for this exercise.
As part of my 20 year plan to make 100k per month net income, I had many educational mini goals. Outside of the planned 3 licenses in Strata-Rentals and Trading I also wrote down very difficult to achieve goals or do activities that would require a lot of effort
Boat Cruise from London to St. Petersburg (Russia) I wrote this before Russia invaded Ukraine.
Run a Marathon
Do a 5000 piece puzzle.
Sing "cant help falling in love" while playing PIANO or GUITAR. by age 65. This one i estimated would require 10,000 hours of learning and practice to be expert. so that is 6h x 330 days = 1980 hours/year X 5 years to complete.
The last on the list was to do a PhD in Economics or Urban Land Economics.
So two weeks ago my RE brokerage had a lecture that informed us the GVRD is planning to change RS1-RS7 zoning inclusive will be completely changed to a single Zoning code
As I have my realtor license but not using it actively, i thought it would be interesting to see if I could find an Economics professor at UBC that would be interested in doing some research and tracking of this change to see if it has the intended effect that the city planners are hoping for.
Well two weeks ago I wrote a letter to an Econ prof asking if he was interested. He replied that I should direct my email and question to the Sauder Business school.
Last week I wrote an email to the prof that I thought was closest to this field. No reply.
Then I went to a RE investors meeting and listened to a Mortgage Broker give a talk on interest rates.
After the meetup we were haveing a drink and I mentioned this new zoning and he mentioned a prof's name.
Tom Davidoff. So I wrote HIM a similar email, now a bit more refined because is was my 3rd email and I got a positive reply. We had a follow up zoom meeting and now there is a good chance 40%? I will do a PhD!!!

Wow. Very cool thread. Very serious about managing your net worth.

Thanks for your comments.
I use this forum for a bit of accountability. It is also here to be scrutinized. If you see any flaws or have an Idea of how
I could do something better, your comments are welcome.

In general I have found that people that can look and plan many years into the future are the most successful by far. So I post my
plans here. The mere fact that I am writing it down helps to clarify the mess in my head and possibly identify the next step in one
of the listed areas.

Pretty sure you share some of the most common traits of the HNWI and I am sure you have a decent chance to be among them in the future.
Writing things down is crucial and I do this as well, but have to admit that have never done it with such discipline. I'll start to do this more diligently from now. Thank you for the inspiration.
Well, if I'm going to share an idea I would say to you to study cognitive biases that affect our decision making. Select the most common ones that affect you when you are making decisions, and master them till it becomes second nature.
Without a shadow of a doubt, you gonna make much better decisions, and as a natural consequence, your net worth will grow at a faster pace, and be leveraged over time through the compounding effect.

I use Charlie Munger's method to avoid bias in my decisions; or at least to point out the flaw and to take the necessary precautions.

Inversion is the practice of thinking through problems in reverse. It’s the practice of “inverting” a problem - turning it upside down - to see it from a different perspective.
In its most powerful form, inversion is asking how an endeavor could fail, and then being careful to avoid those pitfalls.
Charlie Munger says that much of his success has come from him and Warren Buffett avoiding stupid mistakes:
“It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.”
Inversion comes originally from algebra, where an equation is oftentimes easier to solve if you invert it. But it also works for non-math problems.
If you have a long stock position, it would be wise to invert your argument and ask how could this investment fail. What are the scenarios that would cause the intrinsic value of the company to decline permanently?

I have piled a ton into Tesla. Using Charlie's method, the most obvious problem that may cause the company to decline permanently is the loss of Elon Musk.
The way to avoid this is Key man insurance. I will sell some Tesla Stock if Musk really does decide to fight Zuck.
I also can see getting my Ford short smashed if Elon decides to buy Ford with cash!

Funny.. NOW here is a good idea for a company. Insurance on Famous people. It is common for a production company to buy keyman insurance on the lead actors and insist on using body doubles for "risky " filming. Maybe this already exists. I wonder if I could buy life/ disability insurance on Elon Musk to protect my stock investment?

The other small but possible Loss of my Tesla investment is if China invades/tries to invade Taiwan and all hell breaks loose. PRC seizes control of the China Tesla Factory etc.

I absolutely agree with the Charlie Munger thing. And it's very evident across all industries. I witness this clearly playing poker. When I play with this mentality of not making mistakes and thinking about different and negative outcomes my performance is far superior.

I don't think that anything involving a China conflict has a SMALL chance of happening. That's just a matter of time. They are preparing for this for decades.

1) Rental Management: No action.
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2) Delta Warehouse, Tenant missed July payment. Sent an email 10 days ago. I will send another email tomorrow.
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3) Equities Investing. Ran out of money in my trading accounts. Last few purchases were on Margin. I still have more room, but do not want to fly to close to they sky and get margin called. I have lots of cash in my business operating account but my accountant says it has to stay until I get an ok from CRA to move it out.
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4) Hamilton House. No Issues.
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5) Edmonton RE. no Action.
Las Vegas Low % chance I will purchase something here, but still looking at daily email choices.
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6) Realtor License. Taking lots of online courses on the Software used by my Brokerage and Greater Vancouver Real Estate Board. Completed 4/6 field assignments.
So here is an interesting story. I have a group of friends from University 25-30 years ago. We used to only meet maybe once per year at a barbeque that I held at my
home. I would usually get 15-20 people to show up. out of a group of 30. We have skipped the last 3 years due to Covid. I emailed that the bbq is back on this year.
One of the friends in that group knows I am in RE and asked if I knew of any warehouses available. He needes 20-25k sqf for his company.

Parallel to this one of my RE investor friends is studying to be a Strata Manager. The property that we invested in together had an Annual General Meeting last week. (AGM) and since I knew he was studying to be a manager, I offered to meet him before the meeting to answer questions about it and explain how AGM's are run. I am not the Strata manager for the property, but was attending as an owner.

Well in our conversations about warehouses, he mentions to me that his family has THREE other warehouses One empty for two years, and two others that the tenants are moving out of. One of them had a long term tenant whose's rent was $7psf and was going to be raised to the market rate of $20/psf! Well it turns out that one of the warehouses is 22,000sqf. Rent on this warehouse would be $18psf base and maybe $9 in operating cost/Tax/Ins. The monthly rent would be around $50k.
The for sale price of the warehouse is $16M.

I estimate the chance of this going through at 5% for a long (10Y) lease, and 2% for a purchase. Cross my fingers for a purchase as the commission would be likely a flat 3% before my friends beat me down!! Wish me luck. If it even gets close, I will post a funny part II of a possible 1 in a million outcome.
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7) RE meetups: Went to 1 more meetings. Added another 2 new links on Linkedin. Passed out more cards.
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8) Detroit homes: No action worth mentioning. PM Shea says the newly refurbished Kane will be asking $1200/m in rent. Wow.. nice!
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9) Vancouver Warehouse. Attended the annual AGM. My tenant was complaining of dust/smell coming from the adjacent property (outside of our strata) which is a recycling station. Dust falls on our building and parking lot. I went and inspected the property and talked to the neighboring units about the dust. Anyhow there is a funny story here too. I ended up meeting a second cousin in one of the adjacent buildings. Anyhow, during the AGM, I had enough to add that they asked me to be on Council.
I initially declined as I am a Licensed SM and said I have to do extra paperwork and give my Brokerage where I am licensed a Disclosure that I will be acting in a not for profit capacity member at large for the Strata where I own a unit. In the end everyone asked again and I conceded.
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10) Wainwright Storage. No Update.
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#11) Sarnia Ontario. Apartment. nothing to report.
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#12 Finished reading Elon Musk bio. Was considering reading a book recommended by the PhD prof at UBC called Mostly Harmless Econometrics by Angrist and Pischke.
The only problem is that the book is full of higher level maths. It looks like somewhere between 1st and 2n year University math. Regressions to the mean stuff etc. Will start reading that BUT if the math gets too dicy, i will swap to Shoe Dog (Phil Knight of Nike fame.) and ask the prof what math course I need to take/audit to read this book.
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#13 Completed the Critical Faults section in the Future Authoring Program by Jordan B. Peterson. It is a long look at my own faults, when, why I failed and how I can change that in the future. Moving on to the next sections.

1) Rental Management: No action.
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2) Delta Warehouse, Tenant paid $1500 last week. $11,704 has been paid out of /$17,500 that was agreed to.. $5800 to go
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3) Equities Investing. Transferred some funds to trading account. Bought Tesla at $262 and today at $247
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4) Hamilton House. No Issues. Sent Utilities bill to PM. Rent is being paid on time.
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5) Edmonton RE. no Action.
Las Vegas Low % chance I will purchase something here, but still looking at daily email choices.
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6) Realtor License. Still at 4/6 field assignments. Doing an open house next weekend as one of the assignments.
Friends needs 20-25k sqf for his company. He is on third negotiation round with a different landlord. My other friend's warehouse would be a back up if that fails.

I estimate the chance of this going through is now down to 2% for a long (10Y) lease, and 0.5% for a purchase.
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7) RE meetups: Next meetup is August 21.
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8) Detroit homes: No action.
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9) Vancouver Warehouse. Tenant is paying rent on time. Sent them a Common Area Maintenance invoice sent, has not been collected yet. Additional Prop tax bill has to be paid.
Also need to update them on the Dust issue.
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10) Wainwright Storage. No Update.
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#11) Sarnia Ontario. Apartment. nothing to report.
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#12 Mostly Harmless Econometrics book, math gets too tough around page 30. For the PhD, I will need to refresh my calculus, linear algebra and statistics.
Started reading Shoe Dog. Awesome book. Highly recommended and I am only on page 60 or so. Reminds me of "Living with a Seal"
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#13 Wrote 3 sections of the Future Authoring program.
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#14 NEW. I opened up my old Poker Starts account and I have $400 Still there!!! Started playing c10-c25 NL and goal is to get to $1200 to convince myself that I am a winning player.
So far not good. 22 sessions 6129 hands played ; Account down $32. Have not played in 10y so need to refresh my game.