"People have vastly different desires, except for three things: Respect, feeling useful, and control over their time. Those are nearly universal. ...the past wasn’t as good as you remember, the present isn’t as bad as you think, and the future will be better than you anticipate. A comforting delusion is thinking that other people’s bad … Continue reading Little Rules About Big Things
Tag: markets
What a Bear Market Looks Like
But for those of us who were investing in tech and tech startups back in 1999-2002, that time will forever be etched in our minds. It was a brutal period during which our belief in the Internet and its potential was sorely tested. Many friends and colleagues left the sector and never returned.So while crypto … Continue reading What a Bear Market Looks Like
Let the Wild Rumpus Begin
"This time last year it looked like we might have a standard bubble with resulting standard pain for the economy. But during the year, the bubble advanced to the category of superbubble, one of only three in modern times in U.S. equities, and the potential pain has increased accordingly. Even more dangerously for all of … Continue reading Let the Wild Rumpus Begin
Over the Long Term: Good Market > Good Team
"These data points made me think about an important piece of advice that a well respected hedge fund manager once told me — most of your financial returns will come from the markets you select to invest in, rather than the actual securities you decide to hold. Another way to think about it is through … Continue reading Over the Long Term: Good Market > Good Team
Market Inefficiency vs. Other Values
"Efficient systems have limited ability to deal with system-wide economic shocks. Those shocks are coming with increased frequency. They're caused by global pandemics, yes, but also by climate change, by financial crises, by political crises. If we want to be secure against these crises and more, we need to add inefficiency back into our systems.I … Continue reading Market Inefficiency vs. Other Values
How the Economic Machine Works by Ray Dalio
Kinky Labor Supply and the Attention Tax — Kortina
"As an example, consider how this increased competition plays out in online dating platforms. On Tinder, the top 20% of men are competing for the top 78% of women. Why? It’s a matter of the breadth of selection. Offline, due to the constraints of physical space and time, any given woman would have a finite … Continue reading Kinky Labor Supply and the Attention Tax — Kortina
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