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Warren Buffett is usually considered the greatest investor of all time but one thing that is often overlooked is how much his longevity has helped. Yes, he is worth $110 billion. Yes, he’s compounded money at a 22% annualized rate. But he also started investing in stocks at age 10 and is now 91. That is 81 years of compounding. By the way, 95% of his wealth accrued after age 65. If he had started investing at 3 Read more
"That’s the dumbest thing I’ve ever heard”, said Bill Campbell in typical fashion, to an employee in a meeting. Back then, he was a tyrannical boss, and it took a near mutiny from his staff for him to see the error of his ways and change. According to this book, he was a classic “diminisher”. He was not yet the legendary mentor to Silicon Valley CEOs like Steve Jobs and the Google founde Read more
What do Allstate Insurance, Discover Card, Coldwell Banker, Craftsman tools, Kenmore appliances have in common? They are all successful brands created by Sears, while Sears itself went bankrupt. Allstate alone has a market cap of $34 billion. According to Annie Duke , The story of Sears is the story of not knowing when to quit. Or more precisely, ignoring all the signs that you should quit something. While successful Read more
This is an excerpt from The Luck Factor , a 10-year scientific study of luck. It leads with some stuff about superstition which deters most people from getting to the good stuff. So here is a summary. Lucky people generate their own good fortune via four basic principles. 1. They are skilled at creating and noticing chance opportunities 2. Make lucky decisions by listening to their intuition 3. Create sel Read more
Nuggets of wisdom from the book : We’ve instrumentalized niceness as a way of greasing the social wheels, yet it’s often a ruse. We’re polite and we don’t disagree to get through daily existence with the least degree of friction. But by turning niceness into a lubricant, we’ve leeched it of meaning. A smile and a nod might signify “Get me out of here!” as much as Read more
