Ideas from books, articles & podcasts.
Mathematician John Littlewood explained the presence of miracles through statistics. Littlewood's Law says we can expect a miracle every month. On the flip side, we can expect a disaster also as often.
We're currently experiencing a series of sequencing risk more often tha...
If you are aware that 'black swan' events are not so unusual, you can plan if such an event happens. That is the benefit of a high savings rate - it is easier to overcome an unexpected obstacle.
But there are limits. If you lose a house to a wildfire, then you're not relying on short-t...
Pessimism has its limits. When it comes to investing in your future, you should be an optimist. If people try to get better at solving the recessions, panics, and wars, the long-term odds are in an economy's favor.
For investing, it means that as long as you're moving forw...
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