Fantastic article on overcomingbias.com – Robin Hanson talks about the effectiveness of publishing his political philosophy in a scholarly article vs. a popular book. Futarchy: a regime to watch out for
High Road Doubts.
Cover via Amazon
1) Review Personal Finance Blogs
-Here’s a link to a whole bunch of good ones
-Buffett Partnership Letters or Here for a .pdf
2) Get helpful tips from a Quora Finance blogger through this link
3) Check out these books:
The Intelligent Investor – Graham
–Warren Buffett: “The Intelligent Investor Changed My Life”
Margin of Safety – Klarman
You Can Be a Stock Market Genius – Greenblatt
Definition: when neither competitor can benefit from changing your current strategy
The biggest take-away is that the 1/4 quarter-mile agreement doesn’t work; it doesn’t work because either competitor could decide to change their side of the bargain and profit.
The idealisation of bohemian artistic and intellectual life, and the dogma of its superiority over the bourgeois commercial life, that prevailed among Keynes’ Bloomsbury friends, and prevails still among artists and intellectuals, is a remarkably sturdy remnant of our feudal legacy. – unk.
Though it isn’t explicitly said, feudalism is built of classes, and the author seems to be implying that valuing the former makes us megalomaniacs. That is barbaric (get it?)
The love of money as a possession — as distinguished from the love of money as a means to the enjoyments and realities of life — will be recognised for what it is, a somewhat disgusting morbidity, one of those semi-criminal, semi-pathological propensities which one hands over with a shudder to the specialists in mental disease. – John Maynard Keynes
Why does money try to be so objective? It values units by demand, yet a products demand doesn’t take issue with morality, subjective value, or personal beliefs. Sure, we each “value” items personally, but the market should do it for us. Should a dollar price even be the quantifier of value? Why not an alternate unit that shifts for each person. There will be a market cost, but if that cost is above our alternative unit, then its not worth our money. Our obsession with money is not inherently pathological – our relationship with it, however, must be called into question.