Daniel Bakalarz

Psychology: Just as  you think better if you array knowledge on a bunch of models that are basically  answers to the question, why, why, why, if you always tell people why, they'll  understand it better, they'll consider it more important, and they'll be more likely to  comply. Even if they don't understand your reason, they'll ... See more

6.  Meta, Metamates, Me, which is, it’s sort of this adaptation from  this old naval saying, “Ship, shipmates, self.”

Learning to focuson process and accept the periodic and inevitable bad outcomes is crucial.Great investors recognize another uncomfortable reality about probability: the frequency of correctnessdoes not really matter (batting average), what matters is how much money you make when you are rightversus how much money you lose when you are wrong (slugg... See more

On scale advantages, occasionally, scaling down  and intensifying gives you the big advantage. Bigger is not always better.

Value  investing, the strategy of buying stocks at an appreciable discount from the value of the underlying businesses, is one strategy that provides a road map to successfully navigate not onlythrough good times but also through turmoil. Buying at a discount creates a margin of safety forthe investor—room for imprecision, error, bad luck or t... See more

The best investors do nottarget return; they focus first on risk, and only then decide whether the projected return justifiestaking each particular risk.

@borrowed_ideas To borrow a quote from my favorite locked account: "No one wants to buy a stock at the price they were waiting for"

confirmation bias is often the difference between sounding smart and being right. And sometimes something much, much worse.