Daniel Bakalarz
@danielbakalarz
Investor at https://unisonam.com
unisonam.comDaniel 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).
Gurwinder • Why Smart People Hold Stupid Beliefs
Science fiction is powerful because it opens your mind to the fact that the future can look really different. And even though the last 250 years of history have seen crazy change – from the locomotive, airplane, moon landing, computers, to nuclear power – human beings are still linear thinkers. I think that training your mind for the potential of... See more
Gavin Baker • Security Error | Columbia Business School
Microeconomics: here, I find it quite useful to think of a free market economy—or partly free market economy—as sort of the equivalent of an ecosystem
Charlie Munger • A Lesson On Elementary, Worldly Wisdom As It Relates To Investment Management & Business – Charles Munger, USC Business School, 1994
“The essence of strategy,” Porter often says, “is choosing what not to do.”
Joan Magretta • Understanding Michael Porter: The Essential Guide to Competition and Strategy
What is elementary, worldly wisdom? Well, the first rule is that you can't really know anything if you just remember isolated facts and try and bang 'em back. If the facts don't hang together on a latticework of theory, you don't have them in a usable form.
Charlie Munger • A Lesson On Elementary, Worldly Wisdom As It Relates To Investment Management & Business – Charles Munger, USC Business School, 1994
There are huge advantages for an individual to get into a position where you make a few great investments and just sit back and wait: You're paying less to brokers. You're listening to less nonsense. And if it works, the governmental tax system gives you an extra 1, 2 or 3 percentage points per annum compounded.
Charlie Munger • A Lesson On Elementary, Worldly Wisdom As It Relates To Investment Management & Business – Charles Munger, USC Business School, 1994
“How you get an organization of a hundred thousand people through something is about managing your own psychology and about managing your team’s psychology.”
Mark Zuckerberg • 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)
7. Beware of behavioral biases (minimizing constraints to good thinking).