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Seven-Bullet Monday - August 7, 2023

Here is your Seven-Bullet Monday

1. A quote I am pondering:

“You can’t build a reputation on what you are going to do.” – Henry Ford

Ideas and visions are great, but they must be accompanied by enduring action before any recognition is deserved. I find today, some people have many ideas but not much grit. Grit to put in the hard yards, prove out their ideas year after year and consistently deliver value. Then the reputation and status that comes with it truly deserved.

2. A question I am asking myself:

How do I stop making too-quick decisions?

Some of us take too long to make decisions, and others do too quickly. I am part of the latter group. While decisiveness is good, I still need to consider a few more ramifications of my decision before I make the decision.

3. A book I am reading:

The Storyteller: Tales of Life and Music - Dave Grohl

In this memoir, Nirvana and Foo Fighters rockstar Grohl tells his life story from a young boy in Springfield, Virginia, to a global rockstar. I enjoyed the book and the insights into the music industry, the fans, and the struggles and successes of the stars. I also admire his bravery, discipline, and the risks he took to get to the top - I mean, how many musicians break a leg mid-concert but decide to finish the concert before heading to the hospital? The book is a tale of his rise to fame in music and a personal reflection on pivotal moments and his encounters with other musical greats.

4. What I learnt this week

Purportedly cleaner natural gas-fired power plants can be worse for global warming than coal-fired plants.

A recent study found that a natural gas power plant leaking as little as 0.3% methane would be worse for global warming than coal-fired power plants. This is because methane, in its first 20 years in the atmosphere, has more than 80 times the potency of carbon dioxide for global warming. While we are on the topic, some ships have switched to natural gas, claiming it is better for the environment. However, as you can see from the photo below of a European cruise ship, unburnt methane leaking out of the stack is just as prevalent. It shows that transitioning to alternative fuels needs to be thoroughly assessed, and the benefits and risks are all considered before making claims about being cleaner.

5. The highlight of my week

Our teams completing some wide-ranging methane testing at two of our mines

As part of our 2023 plan to develop science-based measurements for fugitive methane from our mines, we completed multiple air testing across recently exposed and older exposed coal seams this week. Planning and executing the work is complex because of the coordination required with our mining operations to safely access the exposed seams without impacting production. A big thank you to our geological, quality, and operational teams for making it all happen this week.

6. Hugh-tips

Time in the market beats timing the market.

Since we have had stock markets, pundits have tried to time the market, mostly in vain. No one has consistently predicted when the market would go up or down, how much it would go up or down, or how long each cycle would last. So, trying to time the market successfully is nearly impossible. Those who trade less frequently generally have higher returns than those who trade more frequently. Darcy Howe summed it nicely by saying, “Investing is like a bar of soap. The more you handle it, the smaller it gets.” So, if we don’t want to handle the bar of soap too often, we should buy great companies, don’t overpay, and then do nothing. That is chilled investing, and yes, it will most likely prove to be the best strategy over the long run.

7. My challenge for you for this week

Try to answer some of these challenging questions

Here is a list of not-too-easy questions for you to give some thought to

· What have you been reflecting on lately?

· How can you better prepare yourself for future challenges?

· How do you perceive your destiny?

· What principles guide you to act ethically?

· How do you stay updated or informed about breakthroughs in your field?

· What have been your most significant personal revelations in the past year?

· Are there pressing questions or goals you’ve avoided addressing?

· How are you preparing for the technological advancements on the horizon?

· How are you keeping up with thought leaders or pioneers in your domain?

· How are you staying ahead and innovating in your field?

· What benchmarks are you setting to assess your progress towards future goals?

· How are you ensuring that your work stands the test of time and is remembered positively?

· How do you balance present responsibilities and preparing for future challenges?

Have a great week.

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