Sublime
An inspiration engine for ideas
When you define savings as the gap between your ego and your income you realize why many people with decent incomes save so little. It’s a daily struggle against instincts to extend your peacock feathers to their outermost limits and keep up with others doing the same. People with enduring personal finance success—not necessarily those with high
... See moreMorgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness
The wealthy often claim special skills, hard work, and the personal sacrifice they themselves or their parents or forefathers have made as justifications for the wealth they hold today. These factors may well have contributed to their fortunes. Yet, without legal coding, most of these fortunes would have been short-lived. Accumulating wealth over
... See moreKatharina Pistor • The Code of Capital: How the Law Creates Wealth and Inequality
Wealth Plus: The total amount of value produced over a certain time period. This includes the traditional measures of economic value found in GDP statistics, but also includes measures of leisure time, household production, and environmental amenities, as summed up in a relevant measure of wealth.
Tyler Cowen • Stubborn Attachments: A Vision for a Society of Free, Prosperous, and Responsible Individuals
Sir John Templeton, not only the world’s greatest investor but also one of the greatest human beings, shared something with me almost 30 years ago: he said that he’s never known anyone who tithed—meaning the person gave 8% or 10% of what he earned to religious or charitable organizations over a ten-year period—who didn’t massively grow his
... See moreTony Robbins • MONEY Master the Game: 7 Simple Steps to Financial Freedom
These are all highly contestable statements.
W. Brian Arthur • Complexity Economics: Proceedings of the Santa Fe Institute's 2019 Fall Symposium
The idea that a few things account for most results is not just true for companies in your investment portfolio. It’s also an important part of your own behavior as an investor.
Morgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness
The “wealth” that I’m referring to includes three components—three specific things that will support you through adversity and disruption: Financial Health, Intellectual Capital, and Social Capital.
Gerry Valentine • The Thriving Mindset: Tools for Empowerment in a Disruptive World
The big economic reason why we can’t explore our potential as we might is that it is hugely more productive for us not to do so. In The Wealth of Nations (1776), the Scottish economist and philosopher Adam Smith first explained how what he termed the ‘division of labour’ was at the heart of the increased productivity of capitalism. Smith zeroed in
... See moreAlain De Botton • The School of Life: An Emotional Education
Social Capital
Brian Wiesner • 30 cards