Money and Finance
- Links
Eddie Lampert's letter to shareholders (LINK) Five Good Questions for Nick Gogerty about his book, The Nature of Value: How to Invest in the Adaptive Economy (LINK) Dan Carlin's Common Sense podcast from last week, discussing Russia...
- Links
Paul Graham: How You Know (LINK) Eddie Lampert on Sears: Moving Forward (LINK) Arnold Van Den Berg at Century Management’s 2014 Client Review [H/T GuruFocus] (LINK) Graham - Newman Letters to Partners 1946 - 1958 (LINK) [I've mentioned these...
- Dr. Peter Drucker: Feedback: Key To Continuous Learning
A big, big thanks to Peter for passing this along. "Whenever a Jesuit priest or a Calvinist pastor does anything of significance (for instance, making a key decision), he is expected to write down what results he anticipates. Nine months later,...
- 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...
- Weekly Roundup - March 8, 2014
What a busy last week. Finished one job, had an awesome time at home with my wife, friends, and family, but all good things must come to an end and it was time to head back to work. A bummer, I know, but the wonderful thing is that while I was off...
Money and Finance
Continuous reorganization, activity...
This excerpt from Peter Bevelin’s book Seeking Wisdomreminded me of the Sears/Eddie Lampert article from last week:
Continuous reorganization may be dangerous. The Roman satirist Petronius Arbiter said in the 1st Century: "We trained hard, but it seemed that every time we were beginning to form into teams we would be reorganized. I was to learn later in life that we tend to meet any new situation by reorganizing, and what a wonderful method it can be for creating the illusion of progress while producing confusion, inefficiency, and demoralization."
Keep in mind
• The 19th Century American writer Henry David Thoreau said: "It is not enough to be busy; so are the ants. The question is: What are we busy about?" Don't confuse activity with results. There is no reason to do a good job with something you shouldn't do in the first place.
• Charles Munger says, "We've got great flexibility and a certain discipline in terms of not doing some foolish thing just to be active - discipline in avoiding just doing any damn thing just because you can't stand inactivity."
• What do you want to accomplish? As Warren Buffett says, "There's no use running if you're on the wrong road."
- Links
Eddie Lampert's letter to shareholders (LINK) Five Good Questions for Nick Gogerty about his book, The Nature of Value: How to Invest in the Adaptive Economy (LINK) Dan Carlin's Common Sense podcast from last week, discussing Russia...
- Links
Paul Graham: How You Know (LINK) Eddie Lampert on Sears: Moving Forward (LINK) Arnold Van Den Berg at Century Management’s 2014 Client Review [H/T GuruFocus] (LINK) Graham - Newman Letters to Partners 1946 - 1958 (LINK) [I've mentioned these...
- Dr. Peter Drucker: Feedback: Key To Continuous Learning
A big, big thanks to Peter for passing this along. "Whenever a Jesuit priest or a Calvinist pastor does anything of significance (for instance, making a key decision), he is expected to write down what results he anticipates. Nine months later,...
- 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...
- Weekly Roundup - March 8, 2014
What a busy last week. Finished one job, had an awesome time at home with my wife, friends, and family, but all good things must come to an end and it was time to head back to work. A bummer, I know, but the wonderful thing is that while I was off...