Nick Gogerty

“Just as reproductive sex amplifies genes and their expressed traits, perpetuating the iterative cycle of life, shopping and purchasing are the acts required for innovations to capture resources and reproduce the flow of an innovation’s expressed capability. This economic process of selective value informational feedback amplifies successful innovations.”
― Nick Gogerty, The Nature of Value: How to Invest in the Adaptive Economy

“Price mostly meanders around recent price until a big shift in opinion occurs, causing price to jump up or down. This is crudely modeled by quants using something called a jump-diffusion process model. Again, what does this have to do with an asset’s true intrinsic value? Not much. Fortunately, the value-focused investor doesn’t have to worry about these statistical methods and jargon. Stochastic calculus, information theory, GARCH variants, statistics, or time-series analysis is interesting if you’re into it, but for the value investor, it is mostly noise and not worth pursuing. The value investor needs to accept that often price can be wrong for long periods and occasionally offers interesting discounts to value.”
― Nick Gogerty, The Nature of Value: How to Invest in the Adaptive Economy

“Bejan’s theory has three tenets:     Life is flow: All flow systems are live systems, the animate and the inanimate.     Design generation and evolution is a phenomenon of physics.     Designs have the universal tendency to evolve in a certain direction in time.”
― Nick Gogerty, The Nature of Value: How to Invest in the Adaptive Economy

“Just as energy gradients are seen as the driver of the ecological system, perceived value gradients can be seen as the driver of the economic system.”
― Nick Gogerty, The Nature of Value: How to Invest in the Adaptive Economy