If you don’t feel that you don’t know enough, you don’t know enough. (@nntaleb) / Participant of ‘Strategic Analytics’ by @necsi, 2017, Washington D.C.
‚Believe me, you will find more lessons in the woods than in books. Trees and stones will teach you what you cannot learn from masters.‘
Bernard of Clairvaux (1090-1153)
The wise, like the fool, makes mistakes. The difference is that the wise is prepared & knows way ahead of time the cost of every mistake. For the wise, a mistake is local; for the fool, the mistake is global.*
*There is a technical dimension, see my election forecasting thing.
COUNTERINTUITIVE FINANCE
What's the best (short term) inflation hedge?
Cash!
The great fallacy is that assets are great inflation hedges. They initially collapse when rates go up. Fighting inflation is the pbm.
Cash allows one to accumulate assets *after* they collapse.
The posthumous novel by my late friend Mihai Spariosu, RIP. Saw the book's progression over the past 20 y.
“Entertaining & gripping ...Plato, Socrates & the Academy/ Plato’s philosophy without abstraction, as the ideas are imbedded in the narrative.”
https://t.co/FLtUXDsDO1