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@Strong_Mindd 4 years, 6 months ago 584 views

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7 Powerful Lessons from the Book "Skin in the Game"

By Nassim Nicholas Taleb

| Thread

1. "You will never fully convince someone that they are wrong; only reality can.

To be precise, reality doesn’t care about winning arguments; survival is what matters."

2. "Focusing on just words put us at a dangerous path since we are much better at doing than understanding. Doers win by doing and not by convincing."

3. "Don’t take advice from people who don’t have skin in the game, i.e., be aware of the person who gives advice, telling you that a particular action is good for you and while it’s also good for him or her. While the harm directly affects you and not him."

4. "You don’t want to win an argument; you want to win whatever you’re after money, goals, convertible car."

5. "People hate uncertainty over mediocrity. For instance, you know what kind of food you will get at McDonald’s at a transit station compared to that Italian place that you have never heard of."

6. "Loss aversion: What matters isn’t what the person has or what he or she doesn’t have. What matters is what he is she is afraid of losing. More you have to lose, more fragile you are."

7. "Society doesn’t evolve by consensus, voting, committees, majority, conferences or polling; only a few people suffice to disproportionally move the needle.

All one need is an asymmetric rule somewhere, and someone with skin in the game."

Determination feeds FOCUS.
Determine your goal. Stay focused.

• make time for stillness
• master over your mind
• practice decision-making skills
Think like a scientist.
Work on technical.
Start reading 100 Mental Models:

https://t.co/QrIrAvRFwk

Thanks for reading. If you find this thread valuable follow me (@Strong_Mindd) for more content like this. And retweet the first tweet to share with others:

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7 Powerful Lessons from the Book "Skin in the Game"

By Nassim Nicholas Taleb

| Thread pic.twitter.com/7g66BNDsMc
— Book Quotes (@Strong_Mindd) April 22, 2022

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1. "When you have one foot in the future and the other in the past, you piss on the present."

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7 Powerful Lessons from the Book "Skin in the Game"

By Nassim Nicholas Taleb

| Thread

1. "You will never fully convince someone that they are wrong; only reality can.

To be precise, reality doesn’t care about winning arguments; survival is what matters."

2. "Focusing on just words put us at a dangerous path since we are much better at doing than understanding. Doers win by doing and not by convincing."

3. "Don’t take advice from people who don’t have skin in the game, i.e., be aware of the person who gives advice, telling you that a particular action is good for you and while it’s also good for him or her. While the harm directly affects you and not him."

4. "You don’t want to win an argument; you want to win whatever you’re after money, goals, convertible car."

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8 Powerful Lessons from the book "Antifragile"

1. The book is about decision-making under uncertainty/volatility.

- EVERYTHING either benefits or is harmed by volatility
- The FRAGILE is harmed (think a glass)
- The ROBUST is unchanged (think The Phoenix)
- The ANTIFRAGILE gets better (think The Hydra)

2. Via Negativa:

Removing is superior to Adding

- Less can be More
- Don't add, subtract
- Eliminate the Artificial
- Eliminate the Unnatural
- Eliminate the Unnecessary
Apply these in all areas of your life.
When in doubt, SUBTRACT

3. Absence of evidence is NOT evidence of absence"

Just because...
- you can't see something doesn't mean it's not there
- something is unintelligible doesn't mean it's unintelligent
- you can't explain something doesn't mean it's not important

-->Have HUMILITY

4. If you have more than one reason to do something, just don’t do it.

It does not mean that one reason is better than two, just that by invoking more than one reason you are trying to convince yourself to do something. Obvious decisions require no more than a single reason.

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8 Powerful Quotes From The Book "Letters from a Stoic" by Seneca

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1. "If you live in harmony with nature you will never be poor; if you live according what others think, you will never be rich."

2. "Enjoy present pleasures in such a way as not to injure future ones."

3. "It is not the man who has too little that is poor, but the one who hankers after more."

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Best books for #Elliottwaves. A thread:

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3. Visual guide to EW trading by Wayne Gorman & Jeffrey Kennedy
4. EW principle applied to the FX markets by Robert Balan

5. EW trading by Jeffrey Kennedy
6. RN Elliott's masterworks
7. Mastering the EW principle by Constance Brown

From a practical perspective, the ones by Gorman/Kennedy & Balan are the gold standard. I have read each book many times n yet there is alws smth new each time.

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Tessa Davis
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@Strong_Mindd

8 Powerful Lessons from the book "Antifragile"

1. The book is about decision-making under uncertainty/volatility.

- EVERYTHING either benefits or is harmed by volatility
- The FRAGILE is harmed (think a glass)
- The ROBUST is unchanged (think The Phoenix)
- The ANTIFRAGILE gets better (think The Hydra)

2. Via Negativa:

Removing is superior to Adding

- Less can be More
- Don't add, subtract
- Eliminate the Artificial
- Eliminate the Unnatural
- Eliminate the Unnecessary
Apply these in all areas of your life.
When in doubt, SUBTRACT

3. Absence of evidence is NOT evidence of absence"

Just because...
- you can't see something doesn't mean it's not there
- something is unintelligible doesn't mean it's unintelligent
- you can't explain something doesn't mean it's not important

-->Have HUMILITY

4. If you have more than one reason to do something, just don’t do it.

It does not mean that one reason is better than two, just that by invoking more than one reason you are trying to convince yourself to do something. Obvious decisions require no more than a single reason.

$Seek Life Mastery \u269c\ufe0f$

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1) My Stan Lee story happened when I was in 5th grade. I was visiting NYC with my Dad and had read the address for Marvel in the comics I read constantly. I begged my Dad to take me and to his credit he did. And guess what? It was just an office.

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So it's now October 10, 2018 and....Rod Rosenstein is STILL not fired.

He's STILL in charge of the Mueller investigation.

He's STILL refusing to hand over the McCabe memos.

He's STILL holding up the declassification of the #SpyGate documents & their release to the public.

I love a good cover story.......

The guy had a face-to-face with El Grande Trumpo himself on Air Force One just 2 days ago. Inside just about the most secure SCIF in the world.

And Trump came out of AF1 and gave ol' Rod a big thumbs up!

And so we're right back to 'that dirty rat Rosenstein!' 2 days later.

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Note the conflicting stories about 'Rosenstein cancelled meeting with Congress on Oct 11!"

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