Money and Finance
- A Few Related Quotes...
As I came across the Russo quote below again, I was reminded of a few others, so I thought I'd group them together. From Tom Russo:…what I have observed about the really great investors is the simple decisions that they end up having to make...
- Richard Feynman Quote
“A scientist is never certain. We all know that. We know that all our statements are approximate statements with different degrees of certainty; that when a statement is made, the question is not whether it is true or false but rather how likely it...
- Taking The Long View
Jeff Bezos, the founder and chief executive of Amazon, owes much of his success to his ability to look beyond the short-term view of things INSIDE a remote mountain in Texas, a gargantuan clock is being pieced together, capable of telling the time for...
- Nassim Taleb On The Importance (and Difficulty) Of Being Willing To Change Your Mind If The Facts Change
Some quotes from Fooled by Randomness (also posted on Twitter):Carneades was not merely a skeptic; he was a dialectician, someone who never committed himself to any of the premises from which he argued, or to any of the conclusions he drew from them....
- Daniel Kahneman Comment On "the Big Short"
From the 2011 LMCM Thought Leader Forum: "Look, every success story after the fact makes sense, that's the problem. There's something I'd like to add about hindsight, just to strengthen the point. It's something that many of us are thinking...
Money and Finance
Jeff Bezos on the value of changing one's mind
Found via World Beta.
He said people who were right a lot of the time were people who often changed their minds. He doesn’t think consistency of thought is a particularly positive trait. It’s perfectly healthy — encouraged, even — to have an idea tomorrow that contradicted your idea today.
He’s observed that the smartest people are constantly revising their understanding, reconsidering a problem they thought they’d already solved. They’re open to new points of view, new information, new ideas, contradictions, and challenges to their own way of thinking.
This doesn’t mean you shouldn’t have a well formed point of view, but it means you should consider your point of view as temporary.
What trait signified someone who was wronga lot of the time? Someone obsessed with details that only support one point of view. If someone can’t climb out of the details, and see the bigger picture from multiple angles, they’re often wrong most of the time.
- A Few Related Quotes...
As I came across the Russo quote below again, I was reminded of a few others, so I thought I'd group them together. From Tom Russo:…what I have observed about the really great investors is the simple decisions that they end up having to make...
- Richard Feynman Quote
“A scientist is never certain. We all know that. We know that all our statements are approximate statements with different degrees of certainty; that when a statement is made, the question is not whether it is true or false but rather how likely it...
- Taking The Long View
Jeff Bezos, the founder and chief executive of Amazon, owes much of his success to his ability to look beyond the short-term view of things INSIDE a remote mountain in Texas, a gargantuan clock is being pieced together, capable of telling the time for...
- Nassim Taleb On The Importance (and Difficulty) Of Being Willing To Change Your Mind If The Facts Change
Some quotes from Fooled by Randomness (also posted on Twitter):Carneades was not merely a skeptic; he was a dialectician, someone who never committed himself to any of the premises from which he argued, or to any of the conclusions he drew from them....
- Daniel Kahneman Comment On "the Big Short"
From the 2011 LMCM Thought Leader Forum: "Look, every success story after the fact makes sense, that's the problem. There's something I'd like to add about hindsight, just to strengthen the point. It's something that many of us are thinking...