Money and Finance
- Daniel Kahneman On Confidence
From Don't Blink! The Hazards of Confidence: “The confidence we experience as we make a judgment is not a reasoned evaluation of the probability that it is right. Confidence is a feeling, one determined mostly by the coherence of the story...
- Charlie Munger On The Return Hurdle At Berkshire...
Via Whitney Tilson’s notes from the 2006 Wesco Annual Meeting:We don’t do a lot of involved math with schedules of investments. Certainly we expect a decent return or we don’t do it. We use a lot of experience and do it in our heads. We distrust...
- Keeping It Simple...
Quotes from the section on 'Simplification' in Seeking Wisdom - from Darwin to Munger by Peter Bevelin. "We have a passion for keeping things simple." -Charles Munger "It's amazing how many people even today use a computer to do something...
- Robert Shiller Interview On U.s. Economic Outlook
Found via The Big Picture. Robert Shiller, an economics professor at Yale University and co-creator of the S&P/Case-Shiller home-price index, talks about the U.S. economic outlook and housing market. Shiller, speaking with Erik Schatzker on Bloomberg...
- Why Google Does Not Own Skype - By Steven Levy
So Microsoft is buying Skype for $8.5 billion, its biggest deal ever. It’s too soon to make a pronouncement on whether the purchase is an idiot move, a brilliant one or just something in between. All the geniuses who ripped the investors who bought...
Money and Finance
Charlie Munger quote
Via my 2009 interview with Peter Bevelin:
“We use a lot of experience and do it [investment returns] in our heads. We don’t like complexity and we distrust other systems and think it many times leads to false confidence. The harder you work, the more confidence you get. But you may be working hard on something that is false. We’re so afraid of that process so we don’t do it.”
- Daniel Kahneman On Confidence
From Don't Blink! The Hazards of Confidence: “The confidence we experience as we make a judgment is not a reasoned evaluation of the probability that it is right. Confidence is a feeling, one determined mostly by the coherence of the story...
- Charlie Munger On The Return Hurdle At Berkshire...
Via Whitney Tilson’s notes from the 2006 Wesco Annual Meeting:We don’t do a lot of involved math with schedules of investments. Certainly we expect a decent return or we don’t do it. We use a lot of experience and do it in our heads. We distrust...
- Keeping It Simple...
Quotes from the section on 'Simplification' in Seeking Wisdom - from Darwin to Munger by Peter Bevelin. "We have a passion for keeping things simple." -Charles Munger "It's amazing how many people even today use a computer to do something...
- Robert Shiller Interview On U.s. Economic Outlook
Found via The Big Picture. Robert Shiller, an economics professor at Yale University and co-creator of the S&P/Case-Shiller home-price index, talks about the U.S. economic outlook and housing market. Shiller, speaking with Erik Schatzker on Bloomberg...
- Why Google Does Not Own Skype - By Steven Levy
So Microsoft is buying Skype for $8.5 billion, its biggest deal ever. It’s too soon to make a pronouncement on whether the purchase is an idiot move, a brilliant one or just something in between. All the geniuses who ripped the investors who bought...