10 MUST-READ Quotes From the Book: "12 Rules for Life"

By Jordan Peterson

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Top 10 Lessons From the Book: "Skin in the Game"

By Nassim Nicholas Taleb

📘Book Summary

1. "Talk is cheap."

Stop talking about doing things and actually DO THEM.

This world desperately needs courageous individuals, who will take action on their dreams.

Be that person.

2. "Experience vs. Theory."

"We are much better at doing than understanding."

Experience is your best teacher.

We as humans are meant to be DOING THINGS.

Not just theorizing about stuff all day.

3. "Yes or No?"

Every decision can be simplified down to either being for or against something.

No matter the sophistication of the situation, try to boil it down to a simple "YES" or "NO"

4. "Dominance of the Minority."

Most people are passive and don't care enough to debate topics.

This is how books get banned for example.

All it takes is a small minority who are really stubborn to move the needle.

Top 20 Most Powerful Quotes From Scientists of All Time

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1.

“Two things are infinite: the universe and human stupidity; and I'm not sure about the universe.”

― Albert Einstein

2.

"The saddest aspect of life right now is that science gathers knowledge faster than society gathers wisdom. "

― Isaac Asimov

3.

"If I have seen further it is by standing on the shoulders of Giants."

— Isaac Newton

4.

"The good thing about science is that it's true whether or not you believe in it. "

― Neil deGrasse Tyson

5.

"A man who dares to waste one hour of time has not discovered the value of life."

― Charles Darwin

Top 20 Most Powerful Lessons from the book: "Tools of Titans"

By Tim Ferriss (@tferriss)

📘Book Summary

1. "Fear is fake."

F - False
E - Expectations
A - Appearing
R - Real

You have nothing to fear but fear itself.

2. "Tell the truth."

Every time you lie a new reality spawns that you have to keep track of.

Save yourself time, energy and pain by just being honest in the first place.

It'll be worth it, trust me.

3. "Be yourself unapologetically."

We don't need another Elon Musk, LeBron James or Joe Rogan, we need YOU to reach your own unique potential.

Everyone has a gift to give to the world.

Don't forget to unwrap your gift.

4. "You do not need to be qualified."

There are countless people who don't have a degree and are making loads of money.

Many Harvard graduates have been fired by college dropouts.

10 MUST-READ Quotes From the Book: "Think and Grow Rich"

By Napoleon Hill

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1. “More gold had been mined from the mind of men than the earth it self”

2. “A quitter never wins-and-a winner never quits.”

3. “The starting point of all achievement is DESIRE. Keep this constantly in mind. Weak desire brings weak results, just as a small fire makes a small amount of heat.”

4. “Happiness is found in doing, not merely possessing.”

Top 20 Most Powerful Philosophy Quotes of All Time

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1.

"It does not matter how slowly you go as long as you do not stop."

– Confucius

2.

“Without music, life would be a mistake.”
– Friedrich Nietzsche

3.

"Quality is not an act, it is a habit."

– Aristotle

4.

"Being deeply loved by someone gives you strength, while loving someone deeply gives you courage."

– Lao Tzu

5.

"One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors."

– Plato

10 Key Lessons From the Book “Black Swan” By: Nassim Taleb

⚡️Book Review⚡️

1. Don’t chase black swans, instead, let them permeate your life.

👉You can do this by experimenting, cultivating serendipity,

🚫not taking bell curves too seriously, and investing in lots of small outlier but high-risk opportunities.

2. Black swan events Key attributes:

- Extremely impactful
- Are outlier events
- Are retrospectively predictable, not prospectively predictable

🚫Try to avoid situations that can fool you in a huge way, and avoid depending on huge, and potentially harmful predictions.

3. Randomness mainly comes from lack of knowledge

Surviving until tomorrow could mean that you’re either more likely to be immortal, or closer to death.

👉Both of these conclusions are based on the same exact data.

4. Unknowns are more important than the knowns

👉We can master things in one field and fail to transfer the same to another.

Everyone has their own limitations when it comes to learning from experience or observation.

Marathon Asset produced several iconic investors such as Nick Sleep and Jeremy Hosking.

Their letters from 2002 to 2015 provided a treasure trove of insights into their investment frameworks and how they look at the capital cycle.

Here are my main takeaways:

1/ Periods of high profitability leads to reckless investments.

When profits are high:

-Boost CAPEX with little regard for ROIC
-Competitors will follow suit to avoid losing market share
-CEO's incentives aren't aligned with shareholders

It's a race to the bottom.

2/ The capital cycle will swing down when investments are taken too far.

Forecasts that were reasonable will now look overly optimistic.

Profits collapse, management teams are changed, CAPEX is cut, and consolidation begins.

This will pave way for a recovery of profits.

3/ Asset growth matters

Consider both asset growth at the company and industry level.

Avoid industries where assets are growing rapidly.

4/ We tend to extrapolate

When overdone, investments that appear logical at first can become disastrous.

We have a tendency to forecast linearly when many things are cyclical.

Examples: trade cycles, credit cycles, etc

1/16
Was reading upon #Biases & learnt a lot. Thought of sharing a few pointers .
Simply put Bias is a disproportionate weight in favour of or against any idea/thing in all aspects of life.
Few types of Biases ( out of the many) with not so random images. :)
+

2/16
The #DunningKruger effect now is fairly well known , wherein people with limited knowledge overestimate their competence, whilst the actually knowledgeable question themselves often .
"Ignorance more frequently begets confidence than does knowledge".
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3/16
*#SelfServingBias*
A very interesting bias wherein we credit our successes to purely ourselves, but when things go awry we cite luck & external forces .
Rings any bells?
Basically a defence mechanism to protect our self esteem & eventually from personal responsibility.

4/16
* #ConfirmationBias *
We all favour ideas & beliefs that affirm to our existing ones' , rarely being open to contradictory opinions .
(Especially in markets !! 😬) Why?

Laziness? Mental block? Ego ?
No wonder, Birds of a feather flock together ... 😉

5/16
* #SunkCostBias *
As we know, sunk costs are irrecoverable , regardless of outcomes. (Eg Money expended towards R&D for a molecule which doesn't work out)
But this actually extends in any investment we make - Time,Money, Effort, Relationships ...😏
Interesting right?

12 Lessons from 'Never Split the Difference' every negotiator must learn

A THREAD:

Create Warmth by Using First Names

Your name is possibly the only thing that's yours but is used more by others.

We all love to hear our names, to be acknowledged, to be recognized, to feel at home,

And using first names while conversing is a great way to develop rapport.

Be a Mirror

The person first ought to trust you in order for him to believe you.

And one of the quickest and surest ways of developing trust,

Is mirroring the person's body language and words.

He'd subconsciously lower his guard and feel at ease.

Listen deeply to understand them

Everyone wants to feel understood.
There is no hack for this.

You genuinely have to be interested to understand what the other person's views are.

And for that to happen,

Your mind should be quiet and present at the moment.

Summarize their position back to them

Once you listen to them deeply,

Summarise what they just told you back to them.

It'd demonstrate empathy and the person would know that you actually paid attention.

15 quotes to hit your ego from the book EGO IS THE ENEMY:

1. Wherever you are, whatever you’re doing, your worst enemy already lives inside you; your ego.

2. The ego we see most commonly goes by a more casual definition: an unhealthy belief in our own importance. Arrogance. Self-centered ambition.

3. Ego is when the notion of ourselves and the world grows so inflated that it begins to distort the reality that surrounds us.

4. We will learn that though we think big, we must act and live small in order to accomplish what we seek.