It has two main themes. The first theme is that lucky people follow a zig zag path in life. The second theme is that heavy ideologies must be avoided because they box you in and don’t allow you to zig zag. And therefore, in a world of ideas, we must be nomads, not settlers.
Warren Buffett said that he and Charlie are willing to look foolish provided they have not acted foolishly. In this blog, I am saying this is a superpower because it allows you to not fall for social proof and making independent decisions.
When there is nothing to do, do nothing. This is true in Test Cricket, Baseball, Investing and Business. It’s important to be patient and wait for the right opportunity rather than swing after suboptimal opportunities.
This blog is about redistribution of assets, capacities and other resources across locations and time horizons. Redistribution allows you to have staying power during bad times and inability to redistribute causes fragility.
People don’t think of survival as much as they should. This blog provides examples to prove that.
Slack is like margin of safety. Slack helps countries, companies, portfolios and individuals to survive.
Survival is far more important than performance. To survive, we must negate all risks that threaten survival. One way to survive in the stock market is to have adequate diversification.
Charlie Munger’s favorite idea was inversion. In fact, he even gave a speech titled: Prescriptions for a miserable life. In the same vein of inversion, I have tried to prescribe how one can remain unlucky.
This is blog is about selling is much, much harder than buying. I have mentioned anecdotes of successful investors and their selling related mistakes.
Warren Buffett said: Predicting rains does not count, building ark does. This blog takes the idea of working on the “arks” of our life now so that we are much better off in the future.
Interest upon Interest 