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The speech set a pattern that he would follow throughout the war, offering a sober appraisal of facts, tempered with reason for optimism. “It would be foolish to disguise the gravity of the hour,” he said. “It would be still more foolish to
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“[W]hen a group of people make something sacred, the members of the cult lose the ability to think clearly about it. Morality binds and blinds.”
― The Righteous Mind: Why Good People Are Divided by Politics and Religion
― The Righteous Mind: Why Good People Are Divided by Politics and Religion
“My investment philosophy changed when I read Charles Ellis’ book Winning the Loser’s Game. The book was given to me by my employer at the time, Michael Goodman, founder of Wealthstream Advisors, Inc. Ellis convinced me that trying to beat the market is a losing proposition. In golf, par is a good score, and avoiding bogeys is more important than making birdies. Very few professional investors beat the market consistently, after accounting for the costs. The most important takeaway from Ellis’ books is that the market return is a good return. The proliferation of low-cost index funds means that the market return is ours for the taking, if only we accept it. I have not purchased an individual stock since reading that book.”
― How I Invest My Money: Finance Experts Reveal How They Save, Spend, and Invest
― How I Invest My Money: Finance Experts Reveal How They Save, Spend, and Invest
“If you grow up in a WEIRD society, you become so well educated in the ethic of autonomy that you can detect oppression and inequality even where the apparent victims see nothing wrong.”
― The Righteous Mind: Why Good People Are Divided by Politics and Religion
― The Righteous Mind: Why Good People Are Divided by Politics and Religion
“We should not expect individuals to produce good, open-minded, truth-seeking reasoning, particularly when self-interest or reputational concerns are in play. But if you put individuals together in the right way, such that some individuals can use their reasoning powers to disconfirm the claims of others, and all individuals feel some common bond or shared fate that allows them to interact civilly, you can create a group that ends up producing good reasoning as an emergent property of the social system. This is why it's so important to have intellectual and ideological diversity within any group or institution whose goal is to find truth (such as an intelligence agency or a community of scientists) or to produce good public policy (such as a legislature or advisory board).”
― The Righteous Mind: Why Good People Are Divided by Politics and Religion
― The Righteous Mind: Why Good People Are Divided by Politics and Religion
“Professional investment may be likened to those newspaper competitions in which the competitors have to pick out the six prettiest faces from a hundred photographs, the prize being awarded to the competitor whose choice most nearly corresponds to the average preferences of the competitors as a whole; so that teach competitor has to pick not those faces which he himself finds prettiest, but those which he thinks likeliest to catch the fancy of the other competitors, all of whom are looking at the problem from the same point of view. It is not a case of choosing those which, to the best of one's judgement are really the prettiest, nor even those which average opinion genuinely thinks the prettiest. We have reached the third degree where we devote our intelligences to anticipating what average opinion expects the average opinion to be. And there are some, I believe, who practice the fourth, fifth and higher degrees.”
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Philip’s 2025 Year in Books
Take a look at Philip’s Year in Books, including some fun facts about their reading.
1,197 books
|
49 friends
1,541 books
|
177 friends
68 books
|
73 friends
505 books
|
35 friends
41 books
|
70 friends
70 books
|
111 friends
344 books
|
124 friends
7 books
|
112 friends
More friends…
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