Non-financial: January - March 2019 articles archive home
Imagine that a meteor is on its way to earth. Wouldn’t you hope that we could call on more than three people to help find a solution? Ideally there would be thousands of people with different skills and backgrounds tackling the problem, many minds and lots of options for changing the rock’s course and saving life as we know it
Friday, March 29, 2019 ... more
“For many of today’s rich there is no such thing as ‘leisure’; in the classic sense—work is their play,” the economist Robert Frank wrote in The Wall Street Journal. “Building wealth to them is a creative process, and the closest thing they have to fun.”
Friday, March 22, 2019 ... more
Seeing where things are headed is the essence of entrepreneurship. And what do I see in our future now? I see pitchforks. The divide between the haves and have-nots is getting worse. And so I have a message for all of us who live in our gated bubble worlds: Wake up, people.
Friday, March 15, 2019 ... more
Not stupid
A few kinds of stupid that are prevalent in business and investing: 1. Intelligence creep: Not knowing the boundaries of what you’re good at, and assuming talent in one area signals skill in all others. 2. Underestimating the complexity of how past successes
Friday, March 8, 2019 ... more
Let's get back to some basics on the word economy, which has in some cases come to mean the very opposite of its original linguistic meaning.
Friday, March 1, 2019 ... more
Money etc.
Above-average results require not being afraid of looking wrong. Most people are afraid of looking wrong. Good investing is 50% psychology, 48% history, 2% finance. Great investing is 40% skill, 20% luck, 40% inability to tell which is which. Bad investing is 40% overconfidence, 40% fees, 20% denial that keeps it all going.
Friday, February 22, 2019 ... more
Easily swayed
You have to recognize that your own thoughts are not your own thoughts. They kind of filtered and percolated in from other people. It might seem like common sense, but it’s just what everybody is saying now. – Robert Shiller
Friday, February 15, 2019 ... more
Happy vs satisfied
Daniel Kahneman contends that happiness and satisfaction are distinct. Happiness is a momentary experience that arises spontaneously and is fleeting. Satisfaction is a long-term feeling, built over time and based on achieving goals and the kind of life we want. And working towards the one may undermine our ability to experience the other.
Friday, February 8, 2019 ... more
Niederhoffer's advice
Some of Victor Niederhoffer’s financial advice to his 12 year old son: Never get in over your head. Never sell short. Buy and hold is the best strategy. Stocks have gone up 50,000 fold in the last 110 years so it’s a good place to put any savings. Always keep something in reserve. Beware of down Fridays. Be mindful of stopping when you have a good gain rather than what most people do in stopping at a big loss.
Friday, February 1, 2019 ... more
Not so smart
In looking for a few supposedly wise men I went to one who had the reputation of wisdom - and the result was as follows: When I began to talk with him, I could not help thinking that he was not really wise, although he was thought wise by many, and wiser still by himself; and I went and tried to explain to him that he thought himself wise, but was not really wise.
Friday, January 25, 2019 ... more
Thinking in bets
We behave according to what we bring to the occasion. Our beliefs affect how we process all new things, whether the ‘thing’ is a football game, a presidential candidate, or spinach… There are exactly two things that determine how our lives turn out: the quality of our decisions and luck.
Friday, January 18, 2019 ... more
In practice it is the negative that’s used by the pros, those selected by evolution: chess grandmasters usually win by not losing; people become rich by not going bust (particularly when others do); religions are mostly about interdicts; the learning of life is about what to avoid.
Friday, January 11, 2019 ... more
They say time changes things, but you actually have to change them yourself. ― Andy Warhol
Wednesday, January 2, 2019 ... more
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