#intrinsic-value

#intrinsic-value

Trust is not merely a social nicety - it is infrastructure. Across decades of empirical research, economists and political scientists have converged on a striking finding: societies and individuals with higher levels of interpersonal trust consistently outperform their low-trust counterparts on nearly every measurable dimension of economic and institutional life.

Having said that, I refuse to believe there's a single person out there overpaying on rent who wouldn't be happier if they owned a house outright.

For my sons, those experiences proved incredibly valuable. Both of them learned to value their athletic experiences not so much for the awards they won or accolades they received but for what participating in those events did for them on the inside. In comparing their childhood experiences to my long-distance running, I realized that many of my own fondest running memories did not come from the buckles or plaques I received but rather from the internal gratification I enjoyed in completing something really difficult.

Kantar's codebase was legacy old. The kind of technical debt that isn't a line item on a sprint board but a structural reality that shapes every decision the company makes. Rebuilding the architecture to support what I'd designed would have cost more than the organization was willing to invest, regardless of the Barilla deal sitting on the table.

Passion can work for or against you in a business model. Your goal? Make it work for you. First, I think we tend to categorize individuals with passion into the enigmatic genius entrepreneur who hits it big or takes the leap with the smallest of chances for success, only to watch them absolutely crush it.

He took it, managed to decipher my terrible penmanship, and wrote me a reply. I didn't ask him weighty questions about politics, I think I probably asked his favorite color. People's favorite color was a major interest for me when I was eleven. He wrote some questions for me, (perhaps also my favorite color, which was blue.) and soon we were in a conversation, the kind of sweet conversation where a thoughtful grown-up pays attention to a child.

Looking back, it's easy to spot the moments where things could have gone differently. At the time, each financial decision felt justified, and sometimes even smart! Whether it was driven by optimism, pressure, or a belief that I could "figure it out later," I made choices that seemed reasonable in the moment but were costly over time. What surprised me most wasn't just the money lost, but how similar the underlying mistakes were.

A new study analyzing data from 1990 to 2023 found that AI can predict 71% of mutual fund managers' trade directions. The research suggests that thousands of high-paying finance jobs could become automated. The study, published by the National Bureau of Economic Research, looked at the $54 trillion asset management industry and discovered that senior managers in less competitive categories are the most predictable-and thus the most replaceable.

The oil tycoon J. Paul Getty was rumoured to have said that his three rules for how to become rich were: Rise early. Work hard. Strike oil. It's one of those eminently quotable remarks because it captures something we all know to be true, that luck and chance have as much to do with success as anything else. Yet we don't value people for their luck.

They're displaying a fascinating set of personality traits that go much deeper than having their finances sorted. 1) They have exceptional impulse control Think about what it takes to always have exact change ready. You need to resist the urge to spend those coins on vending machines or leave them as tips. You have to plan ahead, knowing what you'll buy and preparing accordingly.