The famous investor Charlie Munger used to say unfiltered* and he commented: every time you hear EBITA (Investopedia definition, note sometimes it’s also called EBITDA, where the D stands for depreciation), which stands for Earning before Interest, Taxation and Amortization (and depreciation), you replaced it with Bullshit earnings.
More cheats, liars and lies
I have received unsolicited calls from Timeshare, Hilton Grand Vacations to be specific. I politely declined. But those phone calls are relentless sometimes, and eventually I hand up or blocked the calls. Looking back I felt good that I did the right thing.
By the same token, I think we can do the following replacement. All creative suggestions are welcome.
投资 – 投机
理财 – 赌博，骗局
信托 – 赌博，骗局
发财 – 破产
毕业 – 有时候是失业的意思
买房 – 有时候是买套的意思
(Update 01-15-2024) Refer to 鼎益丰 news here and below.
我的理财理念是天上不会掉馅饼: if something is too good to be true – it’s a lie。
I do like her attitude of “solider on“: which by the way, is also another Charlie Munger life motto.
*Unfiltered: I think Warren Buffett is more diplomatic than Charlie Munger on criticizing. Warren said this many times: criticize by the category; praise by the name. I believe nobody likes to be criticized. Criticize others is much easier than blame/criticize self: e.g., I just saw this gem “The current situation with my classmates are that I am undoubtedly the only one that has morals…” from a google review (James Lai). And Bill Ackman is not too far behind here too.