Investing

Famous investor Bill Miller put it best when asked what worries him about the market:

“The answer is nothing, because everyone else in the market seems to spend an inordinate amount of time worrying. And so all of the relevant worries seem to be covered. My worries won’t have any impact except to distract from something much more useful, which is tr

Occam's Razor says that the simplest explanation is often the best one—that simple is beautiful.

Drachman on RE cycles:

The Final Step of a Real Estate Cycle: Acceptance

A couple of years ago, I compared the real estate cycle to the cycle of grief. At its core, every downcycle is about one thing: people losing money.

That’s why these cycles never move quickly. People hate admitting loss. This is why they will deny it at first then become angry a

"There are two kinds of forecasters: those who don't know, and those who don't know they don't know."

- Howard Marks

Compartmentalization is a muscle.

One common trait I've observed in the highest performers I come across:

An incredible capacity for compartmentalization.

These people are able to navigate dynamic situations and business ecosystems in constant change, all while maintaining a level of sanity, clarity, and presence.

I've always assumed that the ability t

Regularly question your certainty.

"It ain't what you don't know that gets you into trouble. It's what you know for sure that just ain't so." - Mark Twain

But alongside the conviction required to be misunderstood, the greats seem to balance an interesting tension:

Certainty is often more dangerous than uncertainty.

The most dangerous ideas are the ones