Tag archives for Buffett

  1. Russian Roulette (or Luck Vs Skill)

    Imagine this scenario[1] and see if there is something off about it: You get a chance to meet the world champion in Russian roulette.  He has traveled across the globe, putting a gun to his own head and skillfully not shooting himself.  He’s faced hundreds of opponents from every country you can name, including the…

  2. Fortunetellers, Stockpickers and the Former Chairman of the Federal Reserve

    Here’s a question, what’s the difference between the three of them?  Here’s a hint: not much.  Here’s an excerpt from an interview with Alan Greenspan, former chairman of the Federal Reserve: “I’ve been in the forecasting business for more than half a century.  If I get it right 70 percent of the time, I consider…

  3. The Milgram Experiment

    Sometime in the summer of 1963 in a small town somewhere in New England, a young man named John stepped into an empty room to find a tall dark middle aged man in a white lab coat holding a clipboard. The man introduced himself as Dr. Milgram, momentarily stepped out and came back with a…

  4. Forecasts

    “Forecasts may tell you a great deal about the forecaster; they tell you nothing about the future.” Warren Buffett I think one of the hardest parts about talking to people is when then insist that something will happen, particularly when it applies to something that surely is not predictable.  The best example is anything to…

  5. Shaving

    “The simplest answer is usually the correct answer.” Occam’s Razor I think a lot of people insist on making things more complicated than they need to be.  Take losing weight for example.  There are thousands of fad diets involving various amounts of carbs, protein, fat, juices, raw food, and all sorts of other weird concoctions. …