ArchitectingWealth

[Ray Dalio @RayDalio]

Just worry about making the best decisions possible, recognizing that no matter what you do, most everyone will think you're doing something-- or many things-- wrong. It is human nature for people to want you to believe their own opinions and to get angry at you if you don't, even when they have no reason to believe that their opinions are good. So, if you're leading well, you shouldn't be surprised if people disagree with you. The important thing is for you to be logical and objective in assessing your probabilities of being right.

It is not illogical or arrogant to believe that you know better than the average person, so long as you are appropriately open-minded. In fact, it is not logical to believe that what the average person thinks is better than what you and the most insightful people around you think, because you have earned your way into your higher-than-average position and you and those insightful people are more informed than the average person. If the opposite were true, then you and the average man shouldn't have your respective jobs. In other words, if you don't have better insights than them, you shouldn't be a leader-- and if you do have better insights than them, don't worry if you are doing unpopular things.

So how should you deal with your people? Your choices are either to ignore them (which will lead to resentment and your ignorance of what they are thinking), blindly do what they want (which wouldn't be a good idea), or encourage them to bring their disagreements to the surface and work through them so openly and reasonably that everyone will recognize the relative merits of your thinking. Have the open disagreement and be happy to either win or lose the thought battles, as long as the best ideas win out. I believe that an idea meritocracy will not only produce better results than other systems but will also ensure more alignment behind appropriate yet unpopular decisions. #principleoftheday

[ArchitectingWealth @ArchitectingW]

My 2021 in 30 books! Those are the books I read in 2021, what about you? Any favourites? Looking forward to continuing my reading in 2022! #FinancialFreedom #valueinvesting #firstgeninvestors #architectingwealth #investing #financialliteracy #financialeducation #reading #reads

[ArchitectingWealth @ArchitectingW]

The last 2 books for the year on my #holidayreading list are about understanding the Macro picture by Nassim Nicholas Taleb @nntaleb happy #Reading! #FinancialFreedom #valueinvesting #firstgeninvestors #architectingwealth #investing #financialliteracy #financialeducation

[ArchitectingWealth @ArchitectingW]

Charles Ellis' Winning the Loser's Game is next on my #holidayreading list; revising timeless strategies yet updated for post-pandemic markets #FinancialFreedom #valueinvesting #firstgeninvestors #architectingwealth #investing #financialliteracy #financialeducation #holidayreads

[ArchitectingWealth @ArchitectingW]

What are your inessentials? "It's not about a daily increase, but a daily decrease. Hack away at the inessentials" #FinancialFreedom #valueinvesting #firstgeninvestors #architectingwealth #investing #financialliteracy #financialeducation

[ArchitectingWealth @ArchitectingW]

Next on my #holidayreads list is a trilogy by Lee Kuan Yew on #management #Governance & #life
Digging deep into my @investing research!
#FinancialFreedom #valueinvesting #firstgeninvestors #architectingwealth #investing #financialliteracy #financialeducation #holidayreading

[ArchitectingWealth @ArchitectingW]

Happy Holidays Everyone! #FinancialFreedom #valueinvesting #firstgeninvestors #architectingwealth #investing #financialliteracy #financialeducation #MerryChristmas #HappyHolidays #HappyNewYear

[ArchitectingWealth @ArchitectingW]

Another one for my #holidayreads list: Playing the Long Game by Dominik Moosmann Can't wait to #read through the different strategies for achieving #FinancialFreedom #valueinvesting #firstgeninvestors #architectingwealth #financialliteracy #financialeducation #holidayreading

[ArchitectingWealth @ArchitectingW]

About risk & herd: "A broad consensus that something's too hot too handle is almost always wrong" @HowardMarksBook in The Most Important Thing #FinancialFreedom #valueinvesting #firstgeninvestors #architectingwealth #investing #financialliteracy #financialeducation

[ArchitectingWealth @ArchitectingW]

The next one on my #holidayreads list is Zero to One, by @peterthiel Deepening my #investing study through a business lens #FinancialFreedom #valueinvesting #firstgeninvestors #architectingwealth #financialliteracy #financialeducation #holidayreading #holidayreading #holidayreads

[ArchitectingWealth @ArchitectingW]

A market bubble? "It all happened because investors believed too much, worried too little. Worry & its relatives are essential" @HowardMarksBook #FinancialFreedom #valueinvesting #firstgeninvestors #architectingwealth #investing #financialliteracy #financialeducation

[ArchitectingWealth @ArchitectingW]

The Most Important Thing is... 19 things actually. @HowardMarksBook Great great book to refresh the fundamentals of #ValueInvesting. Another one for my #holidayread list! #FinancialFreedom #firstgeninvestors #architectingwealth #investing #financialliteracy #financialeducation

[ArchitectingWealth @ArchitectingW]

That's how the risk/reward relationship is supposed to work & generally does, most of the time, but does it always? #FinancialFreedom #valueinvesting #firstgeninvestors #architectingwealth #investing #financialliteracy #financialeducation @HowardMarksBook #TheMostImportantThing

[ArchitectingWealth @ArchitectingW]

This week's #learningbinge is with @SvenCarlin Insightful & well explained #investing videos. Great work & thanks for sharing!
https://t.co/gZag2Z8X75
#FinancialFreedom #valueinvesting #firstgeninvestors #architectingwealth #investing #financialliteracy #financialeducation

[ArchitectingWealth @ArchitectingW]

So useful to remember our cognitive bias in the Dunning-Kruger effect, specially in #investing to keep my Confidence in my Circle of Competence in check! #FinancialFreedom #valueinvesting #firstgeninvestors #architectingwealth #financialliteracy #financialeducation #dunningkruger

[ArchitectingWealth @ArchitectingW]

How would you apply this to #investing: “When working on a problem, I never think about beauty, when I have finished, if the solution isn't beautiful, it is wrong” #FinancialFreedom #valueinvesting #firstgeninvestors #architectingwealth #financialliteracy #financialeducation

[ArchitectingWealth @ArchitectingW]

Additions to my #holidayreads: Great in-depth books on specific companies in the Routledge Focus series @routledgebooks #FinancialFreedom #valueinvesting #firstgeninvestors #architectingwealth #investing #financialliteracy #financialeducation

[ArchitectingWealth @ArchitectingW]

It is harder than it sounds to consistently base decisions on real facts & analysis rather than risky, speculative forecasts. #FinancialFreedom #valueinvesting #firstgeninvestors #architectingwealth #investing #financialliteracy #financialeducation

[ArchitectingWealth @ArchitectingW]

A great article by @SvenCarlin that deep dives into the Spawning Investing Strategy recently discussed by @MohnishPabrai. Great read! #FinancialFreedom #valueinvesting #firstgeninvestors #architectingwealth #investing #financialliteracy #financialeducation

[ArchitectingWealth @ArchitectingW]

"no matter how bad a crisis gets, a sound investment will pay off" Carlos Slim Helu. Rely on deep research & sound reasoning - not hype - in your #investing. #FinancialFreedom #valueinvesting #firstgeninvestors #architectingwealth #investing #financialliteracy #financialeducation