There’s no greater source of renewable energy in the world than when you’re defending your own self-image.
– Shane Parrish: Clear Thinking – Turning Ordinary Moments Into Extraordinary Results
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Make your ego your ally
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De Gaulle was right
…Who now thinks it is smart to bet the continent’s security on the whim of thousands of Michiganders, Pennsylvanians and Wisconsinites every fourth November?
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Iterate, always iterate
The people who design easily gameable systems belong in the lowest circle of hell.
– Charlie Munger, Poor Charlie’s Almanack
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Check yourself
The scientific literature shows that hunger, anger, loneliness, tiredness, pain, and stress are common “preconditions for poor decision making.” So Shubin Stein uses an acronym, HALT-PS, as a reminder to pause when those factors might be impairing his judgment and postpone important decisions until he’s in a state in which his brain is more likely to function well. This is our seventh technique for reducing avoidable stupidity.
-William Green in Richer, Wiser, Happier
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A through-line for Trump’s foreign policy
Canada, Trump and the new world order https://t.co/AZfyf71Idb via @ft
— Michael Ignatieff (@M_Ignatieff) January 18, 2025Best thing I’ve read about the vision for American foreign policy in 2025. Create a big, beautiful buffer zone paid for and defended by vassals, controlled by American overwatch and for the benefit of oligarchs in Rome. A generational project, not unlike the original Bretton Woods institutions after WW2.
America’s price is rising and it’s going to keep going up for a while.
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Market Main Characters
Adam Neumann spotted a big funding bubble, and found the most efficient way to exploit it, by taking an existing asset that he could buy at a real estate multiple funded by equity he raised at a startup multiple. This drew money away from better companies in a sense, but the money it was going after probably would have ended up in some other business with similarly bad returns on capital. What WeWork accomplished was to speed up this process and make it more visible—someone who ruthlessly exploits a poorly-justified bubble is basically an efficient markets accelerationist who is heightening the contradictions and pushing the system towards its inevitable collapse as a side effect of their effort to get rich quick at the expense of others.
From “Financial Markets aren’t Closed Systems” in Capital Gains by Byrne Hobart.
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Avoid Idiocy
“I don’t have any wonderful insights that other people don’t have. I just have slightly more consistently than others avoided idiocy. Other people are trying to be smart. All I’m trying to be is non-idiotic. I find that all you have to do to get ahead in life is to be non-idiotic and live a long time. It’s harder to be non-idiotic than most people think.”
-Charlie Munger, as quoted by William Green in Richer, Wiser, Happier
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Finally
Finally someone is doing something about the artificial Sykes Picot borders between Canada and America
— Karl Sharro (@KarlreMarks) January 7, 2025
