KISS, diversification and balance
Mathematical models that show price correlation will give precise answers but aren’t useful
Watchlists can be a waste of time
But I am not building up a baseball bullpen of game-ready companies
Buffett’s concept of economic goodwill vs accounting goodwill
Sunkenness – intangible investments tend to be worth less if they go wrong
Fifty years – Beaten the market
It’s amazing that 2% makes such a big difference
A business plan that depends on leverage
Mortgages on income properties will permanently reset to a higher level
Investing in a permacrisis
The prophets of doom have overlooked the all-important factor
Gambling, trading, risk intolerance and investing
An investment is a favourable bet. Gambling is an unfavourable bet.
The danger of too low inflation
Prior to Covid the neutral interest rate had continued its long decline
A set of rules to develop a behavioral edge – Part 7
Subjective confidence in a judgment is not a reasoned evaluation of the probability that this judgment is correct
A set of rules to develop a behavioral edge – Part 6
The strong bias toward believing that small samples closely resemble the population from which they are drawn is also part of a larger story
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