Money and Finance
- Review Of Guy Spier's "the Education Of A Value Investor"
A quick review of Guy Spier's excellent book, The Education of a Value Investor, which I just submitted on Amazon as well.This book is about Guy's personal journey -- the good and the bad. As others have written about the book, he's extremely...
- Nassim Taleb Quotes (prediction)
I had this quote saved to post later, but it seemed to go well with the Tetlock article, so here it is now. THIS paper written by Taleb and Tetlock may also be worth reading (or re-reading) "I insist on the via negativa method of prophecy as being the...
- Nassim Taleb Quote (collaboration)
“Collaboration has explosive upside, what is mathematically called a superadditive function, i.e., one plus one equals more than two, and one plus one plus one equals much, much more than three. That is pure nonlinearity with explosive benefits—we...
- Nassim Taleb Quote (asymmetry)
“Put yourself in situations where favorable consequences are much larger than unfavorable ones…Indeed, the notion of asymmetric outcomes is the central idea of this book: I will never get to know the unknown since, by definition, it is unknown. However,...
- Nassim Taleb Quote
“Don’t look for the precise and the local. Simply, do not be narrow-minded. The great discoverer Pasteur, who came up with the notion that chance favors the prepared, understood that you do not look for something particular every morning but work...
Money and Finance
Newest Addition to the Investing Checklist
“This discussion shows the difficulty in predicting outcomes in an environment of concentrated success.” –Nassim Taleb, The Black Swan
- Does business operate in Extremestan or Mediocrastan?
o It is Difficult to predict [forecast] outcomes in an environment of concentrated success (Extremestan).
§ So be careful not to become too attached to a company valuation for a business that operates more in Extremestan and is thus more subject to randomness.
- Review Of Guy Spier's "the Education Of A Value Investor"
A quick review of Guy Spier's excellent book, The Education of a Value Investor, which I just submitted on Amazon as well.This book is about Guy's personal journey -- the good and the bad. As others have written about the book, he's extremely...
- Nassim Taleb Quotes (prediction)
I had this quote saved to post later, but it seemed to go well with the Tetlock article, so here it is now. THIS paper written by Taleb and Tetlock may also be worth reading (or re-reading) "I insist on the via negativa method of prophecy as being the...
- Nassim Taleb Quote (collaboration)
“Collaboration has explosive upside, what is mathematically called a superadditive function, i.e., one plus one equals more than two, and one plus one plus one equals much, much more than three. That is pure nonlinearity with explosive benefits—we...
- Nassim Taleb Quote (asymmetry)
“Put yourself in situations where favorable consequences are much larger than unfavorable ones…Indeed, the notion of asymmetric outcomes is the central idea of this book: I will never get to know the unknown since, by definition, it is unknown. However,...
- Nassim Taleb Quote
“Don’t look for the precise and the local. Simply, do not be narrow-minded. The great discoverer Pasteur, who came up with the notion that chance favors the prepared, understood that you do not look for something particular every morning but work...