Readwise Highlights

Therefore, submit to God. Resist the devil, and he will flee from you. h 8 Draw near to God, and he will draw near to you.

Focus on the IRR, not the margins. Margins are an output, not an input.

Oaktree’s investment philosophy doesn’t prohibit having opinions, just acting as if they’re right.

I have been crucified with Christ. It is no longer I who live, but Christ who lives in me. And the life I now live in the flesh I live by faith in the Son of God, who loved me and gave himself for me. (Galatians 2:20)

I praise its decentralization, and its willingness to empower booksellers at the local stores.

flushing out the Black Swans—and exploiting them. Remember, your counterpart might not even know how important the information is, or even that they shouldn’t reveal it. So keep pushing, probing, and gathering information.

But Daunt used the pandemic as an opportunity to “weed out the rubbish” in the stores. He asked employees in the outlets to take every book off the shelf, and re-evaluate whether it should stay. Every section of the store needed to be refreshed and made appealing.