Sublime
An inspiration engine for ideas
Risk, as first articulated by the economist Frank H. Knight in 1921,45 is something that you can put a price on.
Nate Silver • The Signal and the Noise: Why So Many Predictions Fail-but Some Don't
Buffett acolyte Guy Spier wrote in his book, The Education of a Value Investor,
Danielle Town • Invested: How I Learned to Master My Mind, My Fears, and My Money to Achieve Financial Freedom and Live a More Authentic Life (with a Little Help from Warren Buffet, Charlie Munger, and My Dad)
A fantastic story about the father of modern portfolio theory, Harry Markowitz, brings this to life. Markowitz considered the optimal mix of assets for his personal portfolio but found it all too complicated to wrap his prodigious brain around. “I should have computed the historical co-variances of the asset classes and drawn an efficient frontier,
... See moreBrian Portnoy • The Geometry of Wealth
providing advice and transaction services to the more complex but (we hoped) more durable and profitable business of investing.
Stephen A. Schwarzman • What It Takes
The essence of Brandt’s strategy is to risk very little on any given trade and to restrict trades to those he believes offer a reasonable potential for an objective that is three to four times the magnitude of his risk.
Jack D. Schwager • Unknown Market Wizards: The best traders you've never heard of
The Distorting Power of Incentives (or the “Pointed Carrot”)
Laurence Endersen • Pebbles of Perception: How a Few Good Choices Make All The Difference
Too Much Counting, Not Enough Trust
John C. Bogle • Enough: True Measures of Money, Business, and Life
many people took on more and more risk with the justification that they were playing only with their gains from the past few years.