Learn more about moneyandinvestments with this collection
Cultivating a growth mindset and embracing challenges
Developing adaptive thinking and problem-solving skills
Effective learning frameworks and approaches
Charlie Munger once commented that "in order to disagree with somebody you must first understand their argument better than they do."
The most common way people lose money is to overestimate how clever they are and how much they know. Even after a fifty-year investing career, both Warren Buffett and Munger read over 500 pages a day and still limited themselves to a small circle of competence where they can explain the other side's argument better than they can.
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150 reads
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Researcher Robin Dunbar says, on average, we can only maintain a trusted social group of one hundred and fifty people. We can change which people, brands, and ideas we trust, but the number stays the same.
We are exposed to an increasing number of brands each year, but wit...
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191 reads
Warren Buffett states that if you aren't willing to own a stock for ten years, don't even think about owning it for ten minutes.
Human nature is most concerned with short term loss aversion, not long-term gain seeking. Because we are so short-term oriented, it's an enormou...
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262 reads
It is an important skill to see the world as it is and not as we wish it should be.
None of the risks you take daily are likely to lead to death, but we act as though they would. An accurate understanding of reality is essential for producing good outcomes.
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169 reads
“The future will not be as good as the past but it doesn’t have to be.” This statement from Charlie Munger summed up his thoughts on public markets. Public market in the U.S. will not repeat the success of the late 90s in the 21st century.
Successful investors seem to focus on...
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152 reads
Not many people have knowledge in their head both through a long life and reading widely, and across private industries, government, etc., to be able to form a broad perspective.
Taking your money and starting from the perspective of how to make a better tire will yield a very different re...
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164 reads
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taylorpearson.me
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Total food specialist. Friendly webaholic. Coffee fan. Proud analyst. Tv expert. Explorer. Travel nerd. Incurable beer advocate.
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