Money and Finance
- 8 Things The World’s Most Successful People All Have In Common
UPDATE: An important question to think about if you read the article below is--as Peter Bevelin discussed in my interviews with him--Compared to what? Are there not many people that have done those 8 things and failed? As Peter said in our interview:...
- Scott Adams Quotes
I'm listening to How to Fail at Almost Everything and Still Win Big: Kind of the Story of My Life in my car and am really enjoying it. I found some quotes from the book via Derek Sivers and thought I'd share a few below. There are many...
- 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...
- Charlie Munger Quote (complexity And Overconfidence)
Mentioned by Peter Bevelin in my 2009 interview with him (and it reminds me of THIS Warren Buffett quote from this year's Berkshire Meeting): “We don’t like complexity and we distrust other systems and think it many times leads to false confidence....
- A Few Lessons For Investors And Managers
I had a chance to start reading some of Peter Bevelin’s new book, A Few Lessons for Investors and Managers, last night. Peter has done an excellent job combining Warren Buffett’s words over the years into a simple, easy-to-read structure, and then...
Money and Finance
Warren Buffett on having an extra level of safety...
This seems to be a fitting quote after the failing of some of the foreign exchange brokers that occurred after the Swiss National Bank move. As quoted by Peter Bevelin in one of my interviews with Peter:
In Seeking Wisdom, Peter also wrote:Buffett: “We want to always keep a lot of money around. We have so many extra levels of safety we follow at Berkshire…. in financial markets, almost anything that can happen does happen. And it pays to conduct your affairs so that no matter how foolish other people get, you’re still around to play the game next day.”
Some systems are more prone to accidents than others because of the number of components, their connections and interactions. The more variables we add to a system, and the more they interact, the more complicated we make it and the more opportunity the system has to fail. Improving certain parts in highly interconnected systems may do little to eliminate future problems. There is always the possibility of multiple simultaneous failures and the more complicated the system, the harder it is to predict all possible failures.
- 8 Things The World’s Most Successful People All Have In Common
UPDATE: An important question to think about if you read the article below is--as Peter Bevelin discussed in my interviews with him--Compared to what? Are there not many people that have done those 8 things and failed? As Peter said in our interview:...
- Scott Adams Quotes
I'm listening to How to Fail at Almost Everything and Still Win Big: Kind of the Story of My Life in my car and am really enjoying it. I found some quotes from the book via Derek Sivers and thought I'd share a few below. There are many...
- 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...
- Charlie Munger Quote (complexity And Overconfidence)
Mentioned by Peter Bevelin in my 2009 interview with him (and it reminds me of THIS Warren Buffett quote from this year's Berkshire Meeting): “We don’t like complexity and we distrust other systems and think it many times leads to false confidence....
- A Few Lessons For Investors And Managers
I had a chance to start reading some of Peter Bevelin’s new book, A Few Lessons for Investors and Managers, last night. Peter has done an excellent job combining Warren Buffett’s words over the years into a simple, easy-to-read structure, and then...