Sublime

Poor Charlie’s Almanack, by Charles T. Munger. I’ve been enjoying Charlie Munger’s speeches online for years; this is the ultimate collection of the best of them. Watching Becoming Warren Buffett on a recent flight reminded me how much of a legend Charlie is.

They convincingly argue that we can easily nudge people toward a particular decision based solely on how we arrange the choices for them.

A great poker player who has a good-size advantage over the other players at the table, making significantly better strategic decisions, will still be losing over 40% of the time at the end of eight hours of play.

A preference for unbiased predictions is justified if all errors of prediction are treated alike, regardless of their direction. But there are situations in which one type of error is much worse than another. When a venture capitalist looks for “the next big thing,” the risk of missing the next Google or Facebook is far more important than the risk

I'm excited to share with you a classic Maboussin  report  that explores the 10 common attributes he has identified great investors share. I find it very funny that the report was published by Credit Suisse a few years ago 🤣. Whether you're new to investing or a Henry Kravis  protegé , these attributes can help guide your thinking

A whole cottage industry, including business school professors and consultants, is working hard to offer businesspeople tidy solutions for their problems. Here’s how you grow sales. Here’s how you innovate. Here’s how you manage your people. But any time you see an approach offering secrets, formulas, rules, or attributes to achieve success, you ca

how professional money managers’ ability to create alpha is exceedingly rare, and what few of these managers there are, you likely will never meet them, as they will choose to raise capital only from the most desirable LPs