The Human Mind has a Shut-Off Device
Once you’ve formed a belief, adding exceptions and justifications becomes easier than updating it. Ryan Holiday writes about this in Trust Me, I’m Lying: Once the mind has accepted a …
Once you’ve formed a belief, adding exceptions and justifications becomes easier than updating it. Ryan Holiday writes about this in Trust Me, I’m Lying: Once the mind has accepted a …
In Mobs, Messiahs, and Markets: Surviving the Public Spectacle in Finance and Politics, Will Bonner writes: …you don’t win by predicting the future; you win by getting the odds right. You …
When successful people from different fields offer the same advice, I listen. Often they have different vocabulary around an idea, but when you break it down you realize they’re talking about …
I have posed at two different business schools the following problem. I say, “You have studied supply and demand curves. You have learned that when you raise the price, ordinarily the volume you can …
“The reliability that matters is not the simple reliability of one component of a system, but the final reliability of the total control system.” — Garrett Hardin *** We learn from …
When Charlie Munger recommended reading Max Bazerman’s Judgment in Managerial Decision Making I had never hear of the HBS professor. A lot of reading later and I’m a huge fan. In the HBR …
“We want to cling to these incredibly outdated and simplistic measures of ability.” — Malcolm Gladwell *** Hiring is difficult and we tend to fall back on antiquated tools that give us a …
An excellent parable by Charlie Munger on how one nation came to financial ruin. In the early 1700s, Europeans discovered in the Pacific Ocean a large, unpopulated island with a temperate climate, …
Charlie Munger, the billionaire partner of Warren Buffett at Berkshire Hathaway, explains why bureaucracy is not shareholder friendly: The great defect of scale, of course, which makes the game …