Money and Finance
Guy Spier on why it may not be best to publicly discuss current ideas...
From Guy's 2013 Annual Letter:
In recent years, I’ve found that it works better not to talk publicly about current holdings in the fund. This is not a matter of guarding our secrets to prevent other investors from stealing them. The real issue is that, once a person has made a public statement, it’s psychologically difficult for them to back away from it — even if they’ve realized that their stated opinion was wrong. In his seminal book The Psychology of Influence, Robert Cialdini called this the “commitment and consistency principle.”
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Related book:
InfluenceRelated previous post: The mistake of consistency
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Links
Bill Gross' latest Investment Outlook: Goodnight Vietnam (LINK) Robert Shiller on CNBC (LINK) John Hempton on CNBC (LINK) Hempton also recently re-recommended the book Fatal Risk: A Cautionary Tale of AIG's Corporate SuicideLosing...
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The Mistake Of Consistency
I finally got around to watching Ben Horowitz on Charlie Roselast night discussing his book The Hard Thing About Hard Things: Building a Business When There Are No Easy Answers. It was a great interview, and one of my favorite parts of it was when Charlie...
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An Interview With Robert Cialdini
Link to: The Uses (and Abuses) of InfluenceRobert Cialdini, considered the leading social scientist in the field of influence, was initially drawn to the topic because he saw how easily people could step over an ethical line into manipulation or even...
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Robert Cialdini Interview By Success Magazine
Robert Cialdini has spent his entire career learning and teaching the science of influence. His book Influence: Science and Practice has sold more than 2 million copies and can be found in 26 languages. Cialdini’s immense knowledge of the subject has...
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Markets Are Made Up Of People
If you've followed up on Charlie Munger's book recommendations, then you'll know Robert Cialdini. Cialdini is most famous for "Influence", and he joins a cavalcade of authors at the big book signing every year in Omaha at the annual Berkshire...
Money and Finance