Reading Time: 4 minutes Contrary to first impressions, big wave surfing is all about risk management. In the late 1980’s legendary Hawaiian big wave surfer Brian Keaulanu looked at the new models of jet ski that were being produced like the Yamaha Waverunner that allowed the rider to sit down, and had a flash of inspiration. He realised that … More We’re all risk managers now
Reading Time: 9 minutes No plan survives first contact with the enemy Herman Von Mutke the Elder During a speech in November 1957 Eisenhower told an anecdote about the maps used during U.S. military training. Maps of the Alsace-Lorraine area of Europe were used during instruction before World War I, but educational reformers decided that the location was not … More Planning once you’ve been punched in the mouth – 3 more questions
Reading Time: 7 minutes First published on Linkedin here I reckon there are two types of people in the modern world of knowledge work. Those that tell stories and those that have not yet realised their job is to tell stories. I’ve been in the latter camp for most of my career. On most days, I probably still am. … More So, you want to write a blog?
Reading Time: 6 minutes There are decades when nothing happens, and there are weeks when decades happen. Lenin Yes, so in case you are wondering we ARE in the Lenin quotes phase of this crisis (Warren Buffet quotes was first week of March, Charlie Munger second week of March and Peter Lynch third week of March, since you asked). … More Three questions we are all asking in this market
Reading Time: 3 minutes My latest top reads, might come in handy if you have more time at home than anticipated these days … Red Notice A true-story thriller which goes from building an asset management business in Russia in the 1990’s, being blackmailed by oligarchs to murder, corruption and becoming Putin’s #1 enemy. goodreads.com Super Pumped The … More Top Reads March 2020
Reading Time: < 1 minute Re-affirm your investment objective ( for framing, context) and your process 2. Run through each of your holdings and remind yourself why you own it 3. Check your mandates are performing as expected given conditions 4. Remind yourself how often drawdowns usually occur – put things into historical context 5. Count how many of the … More 15 productive things investors can do in a market downturn
Reading Time: 2 minutes And the winner is … La La Land!! You might remember this one. Oscars night in 2017. Award for best picture. Warren Beatty and Faye Dunnaway presenting. The entertainment world waiting with baited breath as Beatty hesitated -playing with the audience- as the winner of the best picture was to be announced … But it … More Complex systems and an Oscar-worthy f*** up
Reading Time: < 1 minute Or the reasons why we place our trust in complex things we do not technically understand. The flushable toilet is not a modern invention by any stretch. It was first described in 1596, and began to appear in homes in the 1880s. Pretty much all of us will be fairly familiar with them. I reckon … More Why do people get on planes?
Reading Time: 4 minutes There’s never been a greater need for long-term investment to replace decaying global infrastructure and navigate serious challenges like climate change. But long-term investment programs are rife with challenges and there is no guarantee of success. That’s the premise of an ambitious book (Patient Capital) by Harvard Business School professors Victoria Ivashina and Josh Lerner. … More Patient capital in the 21st century
Reading Time: < 1 minute We put knowledge into silos But there’s value in the wisdom that comes from “thinking like” someone else (from the work of @ShaneAParrish @JamesClear @ScottAdamsSays ) Think like a behavioral psychologist: what are the incentives? What are the relevant cognitive biases in play? What are the second order effects Like an evolutionary biologist: what are … More Think like a …