Some additional thoughts related to each of the themes we discussed: Theme 1: “The Psychology of Money” - we invest to accomplish personal goals, rather than maximizing mathematical outcomes. Theme 2: “Think Longer Term” - compounding is the eighth wonder of the world; use it to your advantage. Theme 3: “Luck and Risk” - the reality that every outcome in life is guided by forces other than individual effort Theme 4: “Long-Tail Optionality” - a very large number of outcomes in the world came as the result of a very small number of individual events Theme 5: “Necessity is the Mother of Invention” - technology is intended to serve society; innovation adapts to society's changing needs Theme 6: “Bubbles and Recessions” - extreme scenarios can result in extreme investing impacts Theme 7: “Influence” - our decisions are guided more than anything by the events that take place directly around us
Just catching up with this as someone who has got the book but is yet to read it. Morgan is in full flight and terrific to listen to as always - he packed more information and insights here than interviews that are twice as long. Keep up the great work Simon and team!
"The High Sparrow shares many similarities with Girolamo Savonarola, an Italian friar who ruled the Republic of Florence from 1494 to 1498, denouncing clerical corruption, despotic rule and the exploitation of the poor." - Wikipedia