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The Success Equation: Untangling Skill and Luck | Michael Mauboussin | Talks at Google
youtube.com
Making money in markets requires having a point of view that is different than what the current pricesuggests. Michael Steinhardt called this a “variant perception.”13 Most investors fail to distinguish betweenfundamentals and expectations. When fundamentals are good they want to buy and when they are poorthey want to sell. But great investors alwa... See more
Dan Callahan • Reflections on the Ten Attributes of Great Investors
Investing isn’t an IQ test, it’s a test of character
Tim Ferriss • Morgan Housel — The Psychology of Money, Picking the Right Game, and the $6 Million Janitor (#576)
Thefirst is a fundamental understanding of how a company makes money. The idea is to distill the business tothe basic unit of analysis. The second dimension is gaining a grasp of a company’s sustainable competitive advantage. A company has a competitive advantage when it earns a return on investment above the opportunity cost of capitaland ea... See more
Dan Callahan • Reflections on the Ten Attributes of Great Investors
Michael Mauboussin — How Great Investors Make Decisions, Harnessing The Wisdom (vs. Madness) of Crowds, Lessons from Race Horses, and More (#659) - The Blog of Author Tim Ferriss
tim.blogHe is both well liked and very intelligent. He is also very rich. I consider his annual “Chairman’s Letter” (in the Berkshire annual report) to be indispensable reading for anyone wanting to do well in business.
Rabbi Daniel Lapin • Thou Shall Prosper: Ten Commandments for Making Money
Understanding Michael Porter: The Essential Guide to Competition and Strategy
Joan Magretta • 29 highlights
amazon.com
Keith Stanovich, aprofessor of psychology, likes to distinguish between intelligence quotient (IQ), which measures mentalskills that are real and helpful in cognitive tasks, and rationality quotient (RQ), the ability to make gooddecisions. His claim is that the overlap between these abilities is much lower than most people think.