Life, Chow Yong Han, Page 4

Focus on staying in the game until the odds fall in your favour

(Excerpt from The Psychology of Money by Morgan Housel) The trick when dealing with failure is arranging your financial life in a way that a bad investment here and a missed financial goal there won’t wipe...

September 26, 2020| Investing, Luck, Randomness Read More

Super successful individuals are cases of extreme luck

(Excerpt from The Psychology of Money by Morgan Housel) …focus less on specific individuals and case studies and more on broad patterns. Studying a specific person can be dangerous because we tend to...

September 26, 2020| Luck, Randomness, Success, Survivorship Bias Read More

Ben Graham’s return was largely delivered by GEICO

(Excerpt from The Psychology of Money by Morgan Housel) Benjamin Graham is known as one of the greatest investors of all time, the father of value investing and the early mentor of Warren Buffett. But the majority of...

September 26, 2020| Investing, Luck, Randomness Read More

High context communication

(Excerpt from Han Feizi translated by Burton Watson) If the person you are trying to persuade is out to establish a reputation for virtue, and you talk to him about making a fat profit, then he will regard you...

August 30, 2020| Machiavellian, Strategy Read More

Humans cannot be trusted – Legalism

(Excerpt from Han Feizi translated by Burton Watson) Legalist thought in general, and that of Han Feizi in particular, is marked by a drastically low opinion of human nature. Some scholars detect in the latter case the...

August 30, 2020| China, Machiavellian Read More

Live in a fake cosy world or the matrix

(Excerpt from Thinking In Bets by Annie Duke) In the movie, the matrix was built to be a more comfortable version of the world. Our brains, likewise, have evolved to make our version of the world more comfortable: our...

August 29, 2020| Ego, Self-serving Bias Read More

Worry about the process, not the outcome

(Excerpt from Keep Going by Austin Kleon) Worry less about getting things done. Worry more about things worth doing. Worry less about being a great artist. Worry more about being a good human being who makes art....

August 29, 2020| Ego, Life Read More

Definite – Indefinite – Optimistic – Pessimistic

(Excerpt from Zero to One by Peter Thiel) To a definite optimist, the future will be better than the present if he plans and works to make it better. A definite pessimist believes the future can be known, but since it...

August 23, 2020| Life, Matrix Read More

Self-serving bias serves the ego

(Excerpt from Thinking In Bets by Annie Duke) self-serving bias arises from our drive to create a positive self-narrative. In that narrative, taking credit for something good is the same as saying we made the right...

August 23, 2020| Ego, Luck, Self-serving Bias Read More

Express your confidence in the accuracy of your belief in percentages

(Excerpt from Thinking In Bets by Annie Duke) … we also rated our level of confidence about the accuracy of our belief on a scale of zero to ten? Zero would mean we are certain a belief is not true. Ten would...

August 22, 2020| Confirmation Bias, Ego, Fallibility, Overconfidence Bias Read More