Building The Framework Challenge - Week 5: Seven Days Until Challenge 2.0, Investing Advice from Ted Lasso and Checklist Heaven
What do you get when you combine a Canadian electrician, a Bay Area personal trainer, a New Jersian CFA, a Baltimorean school teacher, a former Midwest money manager, a stock enthusiast from the UK, and a value investor living in Japan?
A few weeks ago, that’s what I ended up with when I ran the first Investing Framework Challenge.
The last couple of years has taught me the value of online relationships. I’ve met several quality individuals and have made some great friends. Even though I knew this, I was floored at how the first Challenge played out.
The truth is there’s nothing like it. The opportunity to study stocks with investors from different backgrounds, careers, geographies, and life situations is priceless. It gives you a unique perspective I don’t think you get anywhere else.
That week I learned about 7 new stocks (some I’d never heard of). I also learned how to look up insider ownership on a Proxy statement and figured out how to find what I need in a 10K. In addition, I began to think through the 5- and 10-year plans of the stock I was studying.
Selfishly, I built the Challenge for myself.
I love investing and want to improve my analytical skills, but there is only so far I can go by myself. The community holds me accountable, challenges me, and inspires me. I don’t want to jump the gun here, but I think this platform can be a powerful tool for investors who want to accelerate their learning curve.
The Challenge isn’t designed to tell investors what to think or do. It’s built to show them where to look and how to figure out what works for their process. It busts the world wide open and allows you to see things from multiple perspectives.
Let’s do it again!
On April 2nd, we will launch the 2nd Framework Challenge. You can go ahead and get signed up right here.
Here’s what to expect: Using the same framework (David Gardner’s 25-Question Risk Assessment), you will be asked to pick a stock and run it through 25 questions over 5 days. Each day you will receive an email guiding you through the questions (it takes 20-40 minutes each day) and an opportunity to connect with others on the community discussion board. You can share your takeaways for the day, ask questions, and read through the research from other investors.
By the end of the week, you’ll have a much better understanding of the stock you’re studying. I also suspect you’ll learn something new about yourself and what you value in an investment. And the coolest part, you’ll make some friends along the way.
But wait, I buried the lead:
The Challenge is free, so you’ve got nothing to lose. Seriously, it costs you nothing but time.
My goal is to build a powerful and robust community that serves as a unique tool for investors. I’m committing to three months of The Challenge on the Framework website. The site allows me to include more bells and whistles and lets users track their progress with a journal and community discussion board. If it grows and investors see the value, I will continue building on Framework.
In the future, we’ll explore other frameworks, dive into financials, and study legendary investors. This is just the tip of the iceberg.
How can you help?
I’m so glad you asked. I need help spreading the word, so I’d be honored if you share this email with someone who would benefit from taking The Challenge. Another way to help is by sharing the link on social media (Here’s the link again in case you missed it). And the last way to help is by signing up yourself. Take The Challenge and tell me what you think.
That’s enough Challenge talk.
Here are a few things I enjoyed this week:
A list of Checklists: Brain Feroldi put together the ultimate list of lists. I have a feeling we will be revisiting some of these in a Challenge soon. Check out his thread, and let me know what you think.
Ted Lasso is the gift that keeps giving. I asked ChatGPT what advice Ted could provide us on investing, and they came up with this. Honestly, it’s pretty good advice (from a fictional soccer coach).
I noticed this tweet from Dhaval a few weeks ago and discovered a new book. “The Investment Checklist” is the book I’ve been searching for the last few years. It arrived yesterday, and I’m in checklist heaven. If you’re a checklist nerd, it’s a must-read!
That’s all for this week! Thanks for reading and have a great week!