Farnam Street
Mastering the best of what other people have already figured out
The metagame is playing a different game than your competitors. A game they can’t play. The metagame is a strategy that involves understanding the structural or unconscious reasons that things …
Strategy could be the most over-used word since leadership. How many strategies can one organization have? A lot of people say “strategy” when they really mean a goal or objective. This is …
Innovation isn’t a single act, it’s an ongoing process of battling against what’s already established. Change is often not noticeable until it’s too late. The attacker’s advantage is the ability to …
One question Tim Ferriss, the author of The Four Hour Workweek, asks people on his podcast is “What book have you gifted most often to others, and why?” This is one of my favorite parts of the show. …
In Book Recommendations from Billionaire Charlie Munger That will Make you Smarter, we covered some of the books that he’s recommended to Berkshire Hathaway shareholders over the years. As a …
If you’re looking for something to read that will improve your ability as an investor, I’d recommend any of the books below. All 12 of them are deeply informative and will leave an impact on you. 1. …
“In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time—none. Zero. You’d be amazed at how much Warren reads—and how much I …
“I have never done anything like others,” Benoit Mandelbrot (1924-2010) once said. That statement is proven time and time again in his autobiography: The Fractalist. Mandelbrot is …
Michael Mauboussin is one of the smartest people you’ll ever meet. Need proof? Just listen to this podcast interview we did. If you’re looking to learn about behavioral economics, he …
In this excerpt from his annual letter, investing great Seth Klarman describes 20 lessons from the financial crisis which, he says, “were either never learned or else were immediately forgotten by …
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, …