March 20-24, 2023

We are going to take a break from the news flow this week and talk more about our quality checklist. That’s probably what I’ve been spending the most time on and I believe it will bear fruit for years and years to come. We talked about it a few months ago [HERE] but I wanted to discuss it a little more. I was recently reading a book called “Get Smarter” by Seymour Schulich, a Canadian billionaire who was an integral part of Franco Nevada, a huge silver mining operation. If you’ve ever heard of Texas Pacific Land Trust, Franco is a similar concept but for precious metals instead of oil. Well, right when the book starts, he talks about a very useful but simple framework he uses to make any big decision. Basically, it’s a pros/cons list with a twist. He cites all of the pros and cons he can think of but then assigns a weight to each one, 10 being the most important and 1 being the least. After he adds them all up, if the pro score outweighs the con score by at least a factor of 2, he makes the decision. And he said it hasn’t ever failed him. It’s a beautiful system because it forces you to focus on what really matters and then keep track of that. It also allows you to change your mind if one factor is no longer as important as it previously was. So for instance, maybe you are mulling over moving to a different part of the country. Your list might look something like this: Pro

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