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Hoover’s popular image suggests that exercising power is a simple task: press a few buttons, whisper in a few ears, twist a few arms, and presto, the world opens up.
“The solution is simple: Use room for error when estimating your future returns. This is more art than science. For my own investments, which I’ll describe more in chapter 20, I assume the future returns I’ll earn in my lifetime will be ⅓ lower than the historic average.”
― The Psychology of Money
― The Psychology of Money
“Sometimes it's not enough to know what things mean, sometimes you have to know what things don't mean.”
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“The Extended Disorder Family (or Cluster): (i) uncertainty, (ii) variability, (iii) imperfect, incomplete knowledge, (iv) chance, (v) chaos, (vi) volatility, (vii) disorder, (viii) entropy, (ix) time, (x) the unknown, (xi) randomness, (xii) turmoil, (xiii) stressor, (xiv) error, (xv) dispersion of outcomes, (xvi) unknowledge.”
― Antifragile: Things That Gain From Disorder
― Antifragile: Things That Gain From Disorder
“It is dangerous nonsense to assert that in the practice of their art and science physicians can rely on their benevolent intentions, their abilities to judge what is the right thing to do ... It is not that easy. Medicine is a complex profession and the interactions between physicians and patients are also complex. That last line is important. “Medicine is a complex profession and the interactions between physicians and patients are also complex.”
― The Psychology of Money
― The Psychology of Money
“But astrophysics is a field of precision. It isn’t impacted by the vagaries of human behavior and emotions, like finance is. Business, economics, and investing, are fields of uncertainty, overwhelmingly driven by decisions that can’t easily be explained with clean formulas, like a trip to Pluto can. But we desperately want it to be like a trip to Pluto, because the idea of a NASA engineer being in 99.99998% control of an outcome is beautiful and comforting.”
― The Psychology of Money
― The Psychology of Money
H’s 2025 Year in Books
Take a look at H’s Year in Books, including some fun facts about their reading.
803 books
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164 books
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4 books
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17 friends
8 books
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2 books
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1 book
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6 books
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