Money and Finance
- Theory-structure As A Superpower...
I've mentioned it before, but I think it is one of the most important quotes from Charlie Munger in showing why the latticework of mental models can be so powerful, so I thought I'd post it again after the most recent re-read. It is from his talk...
- River Out Of Eden And A Universe From Nothing
In a recent reddit Q&A for the movie The Unbelievers, Richard Dawkins and Lawrence Krauss mentioned their favorite books by the other: Lawrence Krauss: My favorite book of Richard's is River Out of Eden. It is the most beautifully...
- Nigel Goldenfeld: We Need A Theory Of Life
Link to interview: Nigel Goldenfeld: We Need a Theory of LifeNigel Goldenfeld: The prejudice that one runs into often (but not always) when one talks about evolution is that evolution really is dominated by what's called vertical gene transfer, where...
- Robert Bellah Talk
Robert Bellah Discusses his book Religion in Human Evolution at Dominican University of California on February 9, 2012. Link .................... Book: Religion in Human Evolution Related links: Where Does Religion Come From? (Bellah interview before...
- Evolution: A Game Of Chance
One of the toughest concepts to grasp about evolution is its lack of direction. Take the classic image of the evolution of man, from knuckle-walking ape to strong, smart hunter: We view this as the natural progression of life. Truth is, there was no guarantee...
Money and Finance
Charlie Munger on practice evolution
From Whitney Tilson's 2000 Wesco Annual Meeting Notes:
Practice Evolution
"This is really important. For example, Hertz and Enterprise Rent-a-Car through practice evolution have developed personnel systems, etc. that work for them. They are like different species in similar ecological niches.
"Common stock investors can make money by predicting the outcomes of practice evolution. You can't derive this by fundamental analysis -- you must think biologically.
"Another example is Tupperware, which developed what I believe to be a corrupt system of psychological manipulation. But the practice evolution worked and had legs. Tupperware parties sold billions of dollars of merchandise for decades.
"We wouldn't have bought CORT if we didn't like the culture, which resulted from long practice evolution."
- Theory-structure As A Superpower...
I've mentioned it before, but I think it is one of the most important quotes from Charlie Munger in showing why the latticework of mental models can be so powerful, so I thought I'd post it again after the most recent re-read. It is from his talk...
- River Out Of Eden And A Universe From Nothing
In a recent reddit Q&A for the movie The Unbelievers, Richard Dawkins and Lawrence Krauss mentioned their favorite books by the other: Lawrence Krauss: My favorite book of Richard's is River Out of Eden. It is the most beautifully...
- Nigel Goldenfeld: We Need A Theory Of Life
Link to interview: Nigel Goldenfeld: We Need a Theory of LifeNigel Goldenfeld: The prejudice that one runs into often (but not always) when one talks about evolution is that evolution really is dominated by what's called vertical gene transfer, where...
- Robert Bellah Talk
Robert Bellah Discusses his book Religion in Human Evolution at Dominican University of California on February 9, 2012. Link .................... Book: Religion in Human Evolution Related links: Where Does Religion Come From? (Bellah interview before...
- Evolution: A Game Of Chance
One of the toughest concepts to grasp about evolution is its lack of direction. Take the classic image of the evolution of man, from knuckle-walking ape to strong, smart hunter: We view this as the natural progression of life. Truth is, there was no guarantee...