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We all have baggage. We’re used to thinking this in the context of relationships and personal hang-ups. In recent years, there are more people talking about it in the context of money, though I suspect a majority of “serious” finance people dismiss this as snowflakey, touchy-feely nonsense. The dismissiveness is kind of a LOL for … Continue reading Baggage →
I saw this screencap making the rounds on Twitter: The post reminds me of a favorite koan. The Buffalo Koan. Wuzu Fayan said, “It is like a water buffalo (an ox) that passes through a window. Its head, horns, and four legs all pass through. Why can’t the tail pass through?” From The Gateless Gate … Continue reading Frugality →
(apparently the correct spelling is “marshmallow.” I’m not going to go back and change it) There is a famous experiment called “the marshmellow test.” It is a popular point of reference in behavioral finance circles. Here is a summary courtesy of Wikipedia (footnote annotations removed for clarity): The Stanford marshmallow experiment was a study on … Continue reading Marshmellows →
Every so often people start talking about investing superpowers. If you could have one investing superpower what would it be? The power to regularly source and legally trade on material non-public information would be my number one pick. But that’s kind of against the spirit of the game. So my backup pick is “infinite and … Continue reading Luck →
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