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Jul 20, 2017 | » | Betting on Things That Never Change [Morgan Housel]
1 min; updated Sep 5, 2022
Betting on Things That Never Change. Morgan Housel. www.collaborativefund.com . Jul 20, 2017. Change by itself is hard. Investors have to spot it before it’s obvious. Consumers have to change their behaviors to make it viable. These two points repel each other. Sears bet the Internet changed nothing. Beenz bet the Internet changed everything - creating a points-based currency valid only at online merchants. Amazon bet the Internet changed distribution, but rooted its strategy in selection and low prices.... |
Jun 1, 2018 | » | The Psychology of Money [Morgan Housel]
1 min; updated Sep 5, 2022
The Psychology of Money. Morgan Housel. www.collaborativefund.com . Jun 1, 2018. People underestimate the role played by luck. Given \(N\) investors, if \(N\) is large enough, a couple of them will luck their way into billions. But every investor seems to be doing due diligence. The successful ones will be more convinced that their methods really work. Considering the amount of investing books out there, we should be seeing a lot more Warren Buffets in the world.... |
Jun 15, 2018 | » | U.S. Files Criminal Charges Against Elizabeth Holmes and Ramesh Balwani [WSJ]
2 min; updated Sep 5, 2022
U.S. Files Criminal Charges Against Elizabeth Holmes and Ramesh Balwani. John Carreyrou. www.wsj.com . news.ycombinator.com . Jun 15, 2018. (Ask HN) Holmes has 200 Patents. If tech didn't work, why not noticed? news.ycombinator.com . Jun 18, 2018. Theranos Lessons. Morgan Housel. www.collaborativefund.com . Jun 19, 2019. This CEO is Out for Blood. Roger Parloff. www.fortune.com .... |
Jul 1, 2018 | » | [Summary] (Morgan Housel) Immeasurably Important
1 min; updated Sep 5, 2022
Immeasurably Important. Morgan Housel. www.collaborativefund.com . Jul 5, 2018. Filtering out information is an art, not a science, necessitated by the information overload that we live in. Watch out for the tendency to only preserve information that meshes with how we think the world should be. If you think the world is all art, you miss how much stuff is too complicated to think about intuitively.... |
Oct 24, 2018 | » | Humble Exits [Morgan Housel]
1 min; updated Sep 5, 2022
Humble Exits. Morgan Housel. www.collaborativefund.com . Oct 24, 2018. Jack Welch declined $110m for a 10th season of Seinfeld because he was done with the show. He wanted to end the show on the same kind of peak. The show was based on recreating real events from his and Larry David’s normal life. They were running out of material because it had been so long since they experienced a normal life.... |
Nov 29, 2020 | » | On Running a Business
1 min; updated Sep 5, 2022
Consultants are not well suited for strategy (you probably have a deeper understanding). They are also an expensive way of proving your point to management. However, they are good for emergency horsepower, e.g. data analysis, and for primary research within your industry (they probably have a broader understanding). Having a competitive advantage may reduce the incentive to explore other ideas, especially ones that conflict with your chosen [successful] strategy. Additionally, having to maintain/exceed quarterly numbers dissuade incumbents from risk taking.... |