True, these..................

 

272.   One of my goals is to be an ambitious 85-year-old.

273:   Life is a series of continuing education classes.

-Michael Wade, Random Thoughts: Brief Reflections and Moments of Clarity

Models.......................

 

But if you follow any modeled data series, you must always keep in mind statistician George E. P. Box's warning: "All models are wrong, but some are useful."       . . .

     Yet we place a great deal of faith in models.  The problem occurs when, as journalist Jonathan V. Last observes, we forget that models are "not a report sent back from the future."  He observes the three types of inputs that go into models:

        1. Stuff we know;

        2.  Stuff we think we know:

        3.  Stuff we have no idea about.

-Barry Ritholtz, How Not to Invest: The Ideas, Numbers, and Behaviors That Destroy Wealth—and How to Avoid Them

randomness..........................

 

     We too easily mistake randomness for skill.  We imagine we see the future when we hardly understand today.  We readily convince ourselves we are in control of our own destinies, when nothing could be further from the truth.

     Recognizing your own ignorance is an advantage.  Most of Wall Street hates this fact.

-Barry Ritholtz, How Not to Invest

Thinking on paper........................

 

196.  May a warning light start flashing whenever executives talk about how hard they work.

197.  Pick a different country each year and focus on learning about its history, culture, and government.

198.  New bias comes through more in what is not covered than in what is said.

199.  A major advantage is the ability to attract followers in times of crisis.  A major virtue is deserving those followers.

200.  Have frequent reviews to make sure the "incrementals" are running in the right direction.

201.  At certain points, it is not unusual to find that a good 60 to 80 percent of top management doesn't know what the hell is going on.

-Michael Wade, as snipped from here

Thinking on paper......................

338:  The gaps between established truths are where a lot of action is. 

339:  Be wary whenever the eloquent become vague.

340:  Seek distance from coercive people, especially those who long to command you for your own good.

341:  Frequently tally up your assumptions.

342:  Don't look for magic bullets.

343:  The difficult path may be the fastest.

-Michael Wade, Random Thoughts: Brief Reflections and Moments of Clarity

randomness...............

 

You'll be living a lesson that everyone should learn.  Random stuff happens.  All you can control is your response.  Every day, you'll practice how to react to chaos: with dignity, poise, and grace.

-Derek Sivers:  How To Live: 27 conflicting answers and one weird conclusion

Just in case you wanted..................

..................to learn some stuff about Klaus Voorman.

Randomly......................

more fun here

Dipping into Chris Lynch's..................

 ..................................latest post on Substack:

If the Democrats would say, "We'll have Joe Biden resign because of signs of dementia and age but only if you do the same for Mitch McConnell" - I be 100% fine with that trade... Sam Bankman-Fried of FTX has had all campaign charges against him dropped. Here's a list of the politicians SBF or FTX donated money to. Curious to see if any return his stolen money. And people wonder why there's a perception about unequal justice in the US... Albert Einstein once said, "The value of a college education is not the learning of many facts but the training of the mind to think." Modern education seems to consist in mainly getting the student not to think for themselves but to obey. Gigantic difference which will cause great harm.

Cleaning out the closet..........................

 

Shadows................................

       The quality of the outcome casts a shadow over our ability to see the quality of the decision.

       We want outcome quality to align with decision quality.  We want the world to make sense in this way, to be less random than it is.  In trying to get this alignment, we lose sight of the fact that for most decisions, there are lots of ways things could turn out.

       Experience is supposed to by our best teacher, but sometimes we draw a connection between outcome quality and decision quality that is too tight.  Doing so distorts our ability to use those experiences to figure out which decisions were good and which were bad.

Annie Duke, How To Decide:  Simple Tools for Making Better Choices

Random images found on my computer....