“The chains of habit are too light to be felt until they are too heavy to be broken.” — Bertrand Russell One of the ironies of life is that many bad habits provide immediate rewards while negative consequences are concealed
Wednesday, February 3, 2021Volume 2, Issue 9 Elon Musk is well known for posting stream of consciousness thoughts on Twitter, a habit that got him in hot water in August 2018 when he tweeted that he had funding secured to take Tesla private
Friday, January 15, 2021Volume 2, Issue 3 “You’re looking for a mispriced gamble. That’s what investing is. And you have to know enough to know whether the gamble is mispriced. That’s value investing.” — Charlie Munger Something of Value by Howard Marks,
“Never, ever, think about something else when you should be thinking about the power of incentives.” — Charlie Munger The power of incentives is obvious. Even small children will modify their behavior in response to incentives set by their parents.
““Like Warren, I had a considerable passion to get rich, not because I wanted Ferraris — I wanted the independence. I desperately wanted it.” — Charlie Munger The world can appear vastly unequal in terms of the goods and services