Temperament is more important than IQ
During a recent interview Warren Buffett and Charlie Munger had some interesting comments on how to outsmart people who are smarter than you. Munger: We’ve learned how to outsmart people who are …
During a recent interview Warren Buffett and Charlie Munger had some interesting comments on how to outsmart people who are smarter than you. Munger: We’ve learned how to outsmart people who are …
Iatrogenics is when a treatment causes more harm than benefit. As iatros means healer in Greek, the word means “caused by the healer” or “brought by the healer.” Healer, in …
Charlie Munger, the business partner of Warren Buffett and Vice Chairman of Berkshire Hathaway, is famous for his quote “All I want to know is where I’m going to die, so I’ll never …
Everyone wants energy independence. Everyone—from politicians and business people to academics—says that our reliance on foreign energy is bad. But have we really thought about this? Does it make …
Most people go through life not really getting any smarter. Why? They simply won’t do the work required. It’s easy to come home, sit on the couch, watch TV, and zone out until bedtime …
While we all hold an opinion on almost everything, how many of us actually do the work required to have an opinion? I never allow myself to have an opinion on anything that I don’t know the …
A simple and easy approach to decision making that prevents us from being manipulated. Understand the forces at play. Understand how your subconscious might be leading you astray. *** While most of us …
I’m a huge fan of Charlie Munger — Warren Buffett’s right-hand man at Berkshire Hathaway. For those of you unfamiliar with him, listening to his famous talk, The Psychology of Human …
Melissa Korn reporting in the Wall Street Journal: “The biggest complaint,” writes Korn is that “undergraduate degrees focus too much on the nuts and bolts of finance and accounting and don’t …
From The Signal And The Noise: Successful gamblers – and successful forecasters of any kind – do not think of the future in terms of no-lose best, unimpeachable theories, and infinitely …
Despite his best efforts and long hours, Nobel-Prize winning physicist and professor Carl Wieman grew frustrated by his inability to teach and his students’ failure to learn. When I first taught …
“A decision is responsible,” wrote Charles Frankel, “when the man or group that makes it has to answer for it to those who are directly or indirectly affected by it.” Think …
In statistics, a base rate refers to the percentage of a population (e.g. grasshoppers, people who live in New York, newborn babies) which have a characteristic. Given a random individual and no …
Everyone has an opinion on what to teach at business school. Few are as informed or timeless as Charlie Munger, the billionaire business partner of Warren Buffett at Berkshire Hathaway. Here’s …
Charlie Munger on applying Gresham’s Law to lending. The idiotic ideas are all from the social science department and I would put economics in the social sciences department although it has some …
Jeff Bezos recently stopped by the office of 37 Signals. After talking product strategy he answered some questions. In his answer to one question he shared some thoughts on people who were …