One sentence summary Author: Charles T. MungerTopic: Investment and risk managementPrint | Ebook ⭐ Key Notes ⭕ Circle of Competence Focus on what to avoid Focus on what not to do, before considering affirmative steps. Pay attention to mistakes of omission. Pay attention to the micro to get the macro. The keys to becoming an …
📜 Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger Read More »
We underestimate the role of randomness in everything around us. Humans are vulnerable to many heuristics and biases of probability and nonlinearity. Author: Nassim Nicholas TalebTopic: Risk managementPrint | Ebook ⭐ Key Notes We underestimate the share of randomness in everything. We are blind to probabilities. We attribute success to skill, but failure to randomness. …
🐈 Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets Read More »
Strive to be antifragile by protecting yourself from extreme negative events and allow positive black swans to take care of themselves. Author: Nassim Nicholas TalebTopic: Risk managementPrint | Ebook ⭐ Key Notes Protect yourself from extreme harm and let positive black swans take care of themselves. Volatility is information. No opinion without risk, and no …
