For years, I've been connecting with interesting people and documenting insights that might help my clients and myself. What was once private is now (mostly) public.

People often ask: "How do you know all these people?" and "How do you connect these (re: random) ideas?" The answer is simple: consistent relationship cultivation and thoughtful note taking. My north star is trusting my instincts, my maps are the constellations in these reflections.

This approach to multidisciplinary networking has helped dozens of clients, colleagues, and friends strengthen their networks and unlock new opportunities. Feel free to steal these ideas directly - that's what they're for! I can't promise you'll learn FROM me, but I guarantee you can learn something WITH me. Let's go. Count it off: 1-2-3-4!

Introducing... Gary Mishuris!

Do you know Gary Mishuris? He's the founder of Silver Ring Value Partners, a finance instructor at Babson College's Olin Graduate School of Business, and someone who learned early - in a marketplace in Italy with nothing but matches and a moral compass - that integrity isn't a luxury you can afford when money is tight. It's the only thing you can afford.

If not, allow me to introduce you. Gary's been on the investing scene for over 15 years, working at Fidelity, Evergreen Investments, Manulife Asset Management, and now running his own focused value fund at Silver Ring Value Partners. More importantly, he's someone who's consistently chosen the harder right over the easier wrong - whether that meant leaving Fidelity because he wouldn't play politics, or walking away from a lucrative corporate role to build something that aligns with how he actually thinks about investing.

The name itself tells a story: as a 10-year-old in Italy, Gary bought a silver ring with money he'd earned selling matches - only to discover later it wasn't real gold. That lesson about cheap things having hidden reasons for being cheap shaped how he thinks about markets and value. Read the full story here.

I wanted to connect with Gary because he embodies something I deeply value: the willingness to choose principle over convenience, even when it costs you.

Our conversation is LIVE now on the Epsilon Theory YouTube channel. Listen and you'll hear the story of how a 10-year-old kid in Italy selling matches learned more about business and character than most of us do in a lifetime - and how he's spent the last two decades applying those lessons to investing, teaching, and building a firm that actually works the way he thinks it should.

THREE: That's The Magic Number of Lessons

In the meantime, I wanted to pull THREE KEY LESSONS from my time with Gary to share with you (and drop into my Personal Archive).

Read on and you'll find a quote with a lesson and a reflection you can Take to work with you, Bring home with you, and Leave behind with your legacy.

WORK: The Moment When The World Freezes

"I remember to this day, this Italian woman comes to me with a long box with five little sub boxes. They push out one box to show the matches are there. She sees this box sticking out and she's like, oh, here's a mill, and she wants to take one of the five little boxes. This moment where the world freezes and you see thoughts, I'm like, wait, I can make five times as much money. But I know my intent was to sell the whole thing and I told her, no. And she was very thankful."

-Gary Mishuris, The Intentional Investor on Epsilon Theory YouTube

Key Concept: Integrity isn't tested by the easy choices - it's tested in those moments when you have a real incentive to compromise. Gary's moment in Italy was small by financial standards, but it revealed something crucial within himself, that when someone is willing to pay what the market will bear, and you could take it, the choice to stick with your original intent becomes a referendum on who you actually are. That's integrity in practice.

Personal Archive Note-To-Self: I’ve been thinking a lot lately about how integrity is choosing where to hustle for the right reasons. Some of it is being comfortable what you’re comfortable with. A larger part of it is being aware of the world around you, without too much naivete, but also without becoming a complete mercenary prick.

When young Gary chooses to not rip off the woman, even though he knows it can 5x his little hustle, something tells him this is too much for him. I don’t know what that pang of self-awareness exactly is, so much that I know that it matters.

Work, and compensation, is understanding what you’re comfortable in receiving for your efforts. Examining your awareness, and tracing it back through your life, is a very honest way of searching out your values to someday figuring out not just what “enough” means to you, but what flourishing in life actually feels like.

Work question for you: What's a moment where you felt that world freeze - where you could have taken advantage but chose not to? What did that choice teach you about yourself?

LIFE: The Valley You Have To Go Through

"My mom made a good bet and the bet is that the system is better here. The opportunity is better here, in the long term. There is this valley you have to go through to come out another side - but it was the right bet. You have to look through the problem and see what does the picture look like in year five, not just in month five, because if you just focus on what's happening in month five we would've probably stayed in Russia."

-Gary Mishuris, The Intentional Investor on Epsilon Theory YouTube

Key Concept: When Gary's mother decided to leave Russia with almost nothing, she made a bet on year five plus instead of month five. She saw the valley - the displacement, the uncertainty, the aged meatballs, Jose taking pizza - as temporary. This is the core of long-term thinking: Can you see past the immediate hardship to what's actually possible on the other side? Not every valley leads somewhere worth going, but if you never look past month five, you'll never know.

Personal Archive Note-To-Self: The idea of choosing a system to play in, to place future bets in, and not confuse the available bets with the options of the system you’re standing in is as real to me as it feels like science fiction. The metaphor is almost too rich.

Optionality is determined by the rules of the game you’re playing in. Different games have different rules and - to some degree, you get to pick where you play. Gary’s mom opting to leave Russia was a longer-term aware bet she could find a totally different set of options, and potential, for herself and her family.

The perspective shifts on life, and when you have to leave, they’re hard to admit and impossible to ignore once you see them. My brain jumps to leaving a major firm for a smaller, more independent one, not terribly unlike what Gary did in his professional career. These pale in comparison to what his mom did, but they share the same awareness.

Once you see the game in front of you has a more limited set of options and opportunities than a bigger game you have access to, sticking around is a choice. I left for the ability to put my name on writing like this and interviews like the one I did with Gary. Anything less would have stunted my own development, and I think about it every day.

Life Question For You: Where in your life are you being tested on short-term pain versus long-term gain? Are you looking at month five or year five plus?

LEGACY: Preventing The Mind From Ossifying

"I teach because I was looking for a way both to give back and also learn myself. I've mentored a lot of people over the years as young analysts, and there's something to that young energy of people questioning you. When you try to answer them in a thoughtful way, you're like, wait, that wasn't as easy a question as I thought. There's something about that that prevents the mind from just ossifying and becoming dogmatic and formulaic and routine and boring."

-Gary Mishuris, The Intentional Investor on Epsilon Theory YouTube

Key Concept: Gary could have just managed money and gotten richer. Instead, he built a seminar where the filters ensure only genuinely curious people show up. He does this because he knows something crucial: teaching isn't about transmitting information. It's about staying alive intellectually. Young people asking "obvious" questions force you to think deeper, to articulate why you believe what you believe, to prevent your thinking from calcifying into dogma.

Personal Archive Note-To-Self: All of those kung fu movies, when the person who feels the need to be trained to learn to fight, so they go to the temple and then the monks make them wait for days or weeks or more to start to prove they actually are willing to commit to the training - that’s what comes to mind here.

I love the challenge of learning. I love the pressure the teacher puts back on those who want to learn. But, most of all, I love that there’s love behind it.

There’s a crappy and mean way to do this too. It’s the gatekeeper thing. It’s the carrot-dangling of making somebody suffer so “maybe someday I’ll give you this knowledge or opportunity” because it suits you. This is not that.

What Gary is doing is selfless, and just like the kung-fu masters in my movies, it’s about making sure people are ready to become a better version of themselves.

Legacy question for you: Who are the people in your life that keep you from getting comfortable in your own thinking? How are you creating space for that kind of challenge?

BEFORE YOU GO: Be sure to…

You have a Personal Network and a Personal Archive just waiting for you to build them up stronger. Look at your work, look at your life, and look at your legacy - and then, start small in each category. Today it's one person and one reflection. Tomorrow? Who knows what connections you'll create.

Don't forget to click reply/click here and tell me who you're adding to your network and why! Plus, if you already have your own Personal Archive too, let me know, I'm creating a database.

Want more? Find my Personal Archive on CultishCreative.com, watch me build a better Personal Network on the Cultish Creative YouTube channel, and listen to Just Press Record on Spotify or Apple Podcasts, and follow me on social media (LinkedIn and X) - now distributed by Epsilon Theory.

You can also check out my work as Managing Director at Sunpointe, as a host on top investment YouTube channel Excess Returns, and as Senior Editor at Perscient.

ps. AI helped me pull and organize quotes from the transcript, structure the three lessons, and sharpen the Key Concepts. If you're curious about how I use AI while keeping editorial control and my own voice intact, I wrote about my personal rules here: Did AI Do That: Personal Rules

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