Good thread on doing what's right to create an enduring investment firm.
Much as I agree with what's written, the longer I have spent doing this, the more cynical I have become of firms actually adhering to this. It's mostly about easy money, glib salesmanship & faddish deployment.
According to Christopher Nolan, there's a lot less information on Google than you might think:
“Google are not as powerful as people think in terms of information collation. They’re more powerful than people realize in all kinds of areas, such as collecting data on your movements. They’re very good at that. But in a data search, the outcome is always limited. An interesting experiment would be to walk into a library, and go to a book, open the book at a random page, find a fact or piece of information, write it down. Do that ten times, and then go online and see how many of those ten you can find. Our feeling is that 90 percent of the information is online. I have a suspicion the real answer is 0.9 percent.”
Will Durant, one of the greatest historians the world has ever produced, would not only author an 11 volume Magnum Opus on human history, but also an appeal for Indian Independence.
Titled "The Case For India," Durant would lay out the reasoning for Indian freedom from what he saw as the worst tyranny in the world - British Imperialism:
"I wish to speak, in this chapter, with unaccustomed partiality and passion. I am poorly qualified to write of India: I have merely crossed it twice between east and west, and once from north to south, and seen hardly a dozen of its cities.
And though I have prepared myself with the careful study of a hundred volumes, this has all the more convinced me that my knowledge is trifling and fragmentary in the face of a civilization five thousand years old, endlessly rich in philosophy, literature, religion and art, and infinitely appealing in its ruined grandeur and its weaponless struggle for liberty.
If I write at all it is not only because I feel deeply about India, but because life cannot wait till knowledge is complete. One must speak out, and take sides before the fight is over. I have seen a great people starving to death before my eyes, and I am convinced that this exhaustion and starvation are due not, as their beneficiaries claim, to over-population and superstition, but to the most sordid and criminal exploitation of one nation by another in all recorded history.
I propose to show that England has year by year been bleeding India to the point of death, and that self-government of India by the Hindus could not, within any reasonable probability, have worse results than the present form of alien domination.
I shall limit myself in this chapter to presenting the case for India, knowing that the case against her has been stated ail too well in what may be long remembered as the unfairest book ever written. Nevertheless, lest I should merely repeat and reverse that crime, I shall in a later chapter outline the case for England in India as strongly as I can..."
a video shared by the physicist Prof Ed Witten
Prof V. Balakrishnan at IIT Madras explaining Why is Quantum Mechanics So Confusing?
[I am in awe of how he traverses, sentence after sentences, idea after idea - without a pause but also unhurriedly. What a great teacher.🙏]
Danger lies in stock advice that doesn't feel like a stock tip, sector rotation premised on iffy causality off macrostrology, subtle views on where market will bottom, XL backed guesswork on rates, commodities, FX etc. It's not the idiot who'll get you, it's the seemingly smart.