Daniel Bakalarz
Since we’re a social species, it is intelligent for us to convince ourselves of irrational beliefs if holding those beliefs increases our status and well-being. Dan Kahan calls this behavior “identity-protective cognition” (IPC).
from Why Smart People Hold Stupid Beliefs by Gurwinder
- 10. Read (and keep an open mind).
from Reflections on the Ten Attributes of Great Investors by Dan Callahan
- The value of information is determined by what’s discarded in the process of creating it.
from The Attention Span. “Racehorses and Psychopaths.” by thekcpgroup.com
- If a company earns exactly its cost of capital on its investments, the present value of incremental NOPAT and the present value of investment will be equal. SVA and PVGO are both zero.
from Market-Expected Return on Investment Bridging Accounting and Valuation by Morgan Stanley
- Is the Graham and Dodd “look for values with a significant margin of safety relative to prices”approach to security analysis out of date? Many of the professors who write textbooks todaysay yes.Well, maybe. But I want to present to you a group of investors who have, year in and yearout, beaten the Standard & Poor’s 500 stock index.
from The Superinvestors of Graham-and-Doddsville by Warren Buffett
- On Meta's revamped values:
from The Tim Ferriss Show Transcripts: Mark Zuckerberg on Long-Term Strategy, Business and Parenting Principles, Personal Energy Management, Building the Metaverse, Seeking Awe, the Role of Religion, Solving Deep Technical Challenges (e.g., AR), and More (#582) by Mark Zuckerberg
- Accounting is the language of business and you need to understand it to appreciate economic value and to assess competitive positioning. Investors face a slew of psychological challenges. Perhaps the most difficult is updating beliefs when new information arrives. Position sizing and portfolio construction still do not get the attention they warran... See more
from Reflections on the Ten Attributes of Great Investors by Dan Callahan
- Fortunately, it isn't that tough—because 80 or 90 important models will carry about 90% of the freight in making you a worldly-wise person. And, of those, only a mere handful really carry very heavy freight.
from A Lesson On Elementary, Worldly Wisdom As It Relates To Investment Management & Business – Charles Munger, USC Business School, 1994 by Charlie Munger
- “If I’m doing something that feels too well understood for too long, then I feel like I’m just being complacent.”
from The Tim Ferriss Show Transcripts: Mark Zuckerberg on Long-Term Strategy, Business and Parenting Principles, Personal Energy Management, Building the Metaverse, Seeking Awe, the Role of Religion, Solving Deep Technical Challenges (e.g., AR), and More (#582) by Mark Zuckerberg