Incentives

Incentives Drive Behaviour:

- Lawyers always want another revision (paid $500/hr)

- Realtors always want to close a sub-par deal (2% fee means a $20,000 more for you isn't worth it for them)

- Wealth Managers will always push for the structure that pays them the most - usually more raw dollars (they get paid on AUM + additional trade fees, not resu

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“nobody ever got fired for buying IBM.”

Tackle the Monkey First: "Let’s say you’re trying to teach a monkey how to recite Shakespeare while on a pedestal. How should you allocate your time and money between training the monkey and building the pedestal? The right answer, of course, is to spend zero time thinking about the pedestal. But I bet at least a couple of people will rush off a... See more

It is difficult to get a man to understand something, when his salary depends on his not understanding it. – Upton Sinclair