Part of this has to do with confusing fields of precision with fields of uncertainty.

“The best way to achieve felicity is to aim low,” says Charlie Munger. Wonderful.

Moderately cool summers, not cold winters, were the icy culprit. It begins when a summer never gets warm enough to melt the previous winter’s snow. The leftover ice base makes it easier for snow to accumulate the following winter, which increases the odds of snow sticking around in the following summer, which attracts even more accumulation the fol

There are so many examples of this. Countless fortunes (and failures) owe their outcome to leverage. The best (and worst) managers drive their employees as hard as they can. “The customer is always right” and “customers don’t know what they want” are both accepted business wisdom. The line between “inspiringly bold” and “foolishly reckless” can be

Worship room for error.

“Risk is what’s left over when you think you’ve thought of everything.”

spending beyond a pretty low level of materialism is mostly a reflection of ego approaching income, a way to spend money to show people that you have (or had) money.