Money and Finance
- Robert Greene Quote On The Computer Age/hacker Approach To Apprenticeship
From the book Mastery:Each age tends to create a model of apprenticeship that is suited to the system of production that prevails at the time. In the Middle Ages, during the birth of modern capitalism and the need for quality control, the first apprenticeship...
- How To Get A Real Education - By Scott Adams
Great article with great advice. Thanks to Will for passing this along. I understand why the top students in America study physics, chemistry, calculus and classic literature. The kids in this brainy group are the future professors, scientists, thinkers...
- Mauboussin On Strategy: Where From Here?
This short essay covers three topics. First is a little perspective on recent events. Second are some thoughts on where we might go from here. And finally, a comment on the behavioral finance issues around what we are going through, with an emphasis on...
- Weekly Roundup - July 20, 2013
Just a quick roundup this week because work has been taking up too much of my time. I can't wait to put an end to that, although that's still a few years away. This past week was pretty good, we finished drilling one section of the whole and...
- When Second Best Is Better - The Case For Patient Quality Over Bravery (if You Have A Job)
Having a job is great, but its good to have extra income sources as well. A common one is to buy some rental property, but they have always seemed like a hassle to me. For one thing I do not have the handy man skills and for another my friends who do...
Money and Finance
GMO: Quarterly Letter – Jeremy Grantham
My second theory would be even harder to prove, and this is it: that CEOs are picked for their left-brain skills – focus, hard work, decisiveness, persuasiveness, political skills, and, if you are lucky, analytical skills and charisma. The “Great American Executives” are not picked for patience. Indeed, if they could even spell the word they would be fired. They are not paid to put their feet up or waste time thinking about history and the long-term future; they are paid to be decisive and to act now.
The type of people who saw these problems unfolding, on the other hand, had much less career risk or none at all. We know literally dozens of these people. In fact, almost all the people who have good historical data and are thoughtful were giving us good advice, often for years before the troubles arrived. They all have the patience of Job. They are also all right-brained: more intuitive, more given to developing odd theories, wallowing in historical data, and taking their time. They are almost universally interested – even obsessed – with outlier events, and unique, new, and different combinations of factors. These ruminations take up a good chunk of their time. Do such thoughts take more than a few seconds of time for the great CEOs who, to the man, missed everything that was new and different? Unfortunately for all of us, it was the new and different this time that just happened to be vital.
The type of people who saw these problems unfolding, on the other hand, had much less career risk or none at all. We know literally dozens of these people. In fact, almost all the people who have good historical data and are thoughtful were giving us good advice, often for years before the troubles arrived. They all have the patience of Job. They are also all right-brained: more intuitive, more given to developing odd theories, wallowing in historical data, and taking their time. They are almost universally interested – even obsessed – with outlier events, and unique, new, and different combinations of factors. These ruminations take up a good chunk of their time. Do such thoughts take more than a few seconds of time for the great CEOs who, to the man, missed everything that was new and different? Unfortunately for all of us, it was the new and different this time that just happened to be vital.
- Robert Greene Quote On The Computer Age/hacker Approach To Apprenticeship
From the book Mastery:Each age tends to create a model of apprenticeship that is suited to the system of production that prevails at the time. In the Middle Ages, during the birth of modern capitalism and the need for quality control, the first apprenticeship...
- How To Get A Real Education - By Scott Adams
Great article with great advice. Thanks to Will for passing this along. I understand why the top students in America study physics, chemistry, calculus and classic literature. The kids in this brainy group are the future professors, scientists, thinkers...
- Mauboussin On Strategy: Where From Here?
This short essay covers three topics. First is a little perspective on recent events. Second are some thoughts on where we might go from here. And finally, a comment on the behavioral finance issues around what we are going through, with an emphasis on...
- Weekly Roundup - July 20, 2013
Just a quick roundup this week because work has been taking up too much of my time. I can't wait to put an end to that, although that's still a few years away. This past week was pretty good, we finished drilling one section of the whole and...
- When Second Best Is Better - The Case For Patient Quality Over Bravery (if You Have A Job)
Having a job is great, but its good to have extra income sources as well. A common one is to buy some rental property, but they have always seemed like a hassle to me. For one thing I do not have the handy man skills and for another my friends who do...