
A (Long) Chat with Peter L. Bernstein

Spreadsheets can model the historic frequency of big stock market declines. But they can’t model the feeling of coming home, looking at your kids, and wondering if you’ve made a mistake that will impact their lives. Studying history makes you feel like you understand something. But until you’ve lived through it and personally felt its consequences,
... See moreMorgan Housel • The Psychology of Money
Following lighthouse questions is inherently risky because they concern the unknown and unknowable future, but trusting a pattern that worked in the past is risky too. The world is always changing regardless.
Amy Whitaker • Art Thinking: How to Carve Out Creative Space in a World of Schedules, Budgets, and Bosses
Warren Buffett said: “Virtually all surprises are unpleasant.”9 So considering the worst-case scenarios is vital and generally overlooked in prosperous times.
Michael J. Mauboussin • Think Twice: Harnessing the Power of Counterintuition
“It’s not whether you’re right or wrong that’s important,” George Soros once said, “but how much money you make when you’re right and how much you lose when you’re wrong.” You can be wrong half the time and still make a fortune.