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ET In Full
In baseball and in investing, how do we distinguish truly great practitioners from merely good ones? Let’s start by looking at two greats who revolutionized how the game is played – Branch Rickey in baseball and David Swensen in investing.
The next stops in our discovery of the process of discovery? A town of 1,282 people and the mind of a German physicist named Arnold Sommerfeld.
The greatest risk to your portfolio is a change in the zeitgeist. A change from deflation to inflation. A change from cooperative international games to competitive games. A change from capital markets to political utilities.
I think it’s all happening.
When our processes of inquiry lack challenge, doubt and obsession with falsifying our best ideas, the result is inevitable. Our conclusions cease to be science and become something else entirely. That something else is a thing sensitive to narrative, vulnerable to priors and bias. That something else is scientism.
The way I see it, there are three reasons a person becomes a liar: he believes that he must, he believes that he may, or he believes it serves a Greater Truth.
Take back your vote.
Take back your distance.
Take back your data.
How to make our way as citizens in a fallen world, with Clear Eyes and Full Hearts to make it better.