Anchor to the future
Making a case for why we need to anchor to the future and not to the past.
Tag: Charlie Munger
Zigging and zagging
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.
How foolish are you willing to look
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.
Bias for now
Humans spent a majority of the time as hunter – gatherers. Therefore we have a bias for immediacy. This is both good news and bad news. Good news when we can use dashboards and other real time feedback for improvement. Bad news because Compound Interest is an invention of civilization which we are not programmed for.
Best of times, worst of mistakes
This blog is about money. And how over centuries we seem to be making similar mistakes with it.
The greatest wonder
People don’t think of survival as much as they should. This blog provides examples to prove that.
Strong swimmers
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.
Economics for the irrational man
Classical Economics assumes humans make decisions rationally. But in reality we are all messed up. Behavioral Economics explains our biases and why/how we make irrational decisions all the time.
How to remain unlucky
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.
Our two lives
How we live our days is how we live our lives. And therefore we must learn to spend time wisely.
Interest upon Interest 