Jennifer Baez
@jenniferbaez
Jennifer Baez
@jenniferbaez
Morgan Housel • 10 highlights
amazon.com
My favorite Wikipedia entry begins: “Ronald James Read was an American philanthropist, investor, janitor, and gas station attendant.” Ronald Read was born in rural Vermont. He was the first person in his family to graduate high school, made all the more impressive by the fact that he hitchhiked to campus each day. For those who knew Ronald Read,
... See moreIt's easier to learn about a system's elements than about its interconnections. Many of the interconnections in systems operate through the flow of information. Information holds systems together and plays a great role in determining how they operate. Many interconnections are flows of information signals that go to decision points or action points
... See moreBecause of feedback delays within complex systems, by the time a problem becomes apparent may be unnecessarily difficult to solve.
Luck and risk are both the reality that every outcome in life is guided by forces other than individual effort. They are so similar that you can’t believe in one without equally respecting the other. They both happen because the world is too complex to allow 100% of your actions to dictate 100% of your outcomes. They are driven by the same thing:
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