Words to Start the Week (Feb. 10, 2025)
Nuggets from past notes
“There is a positive relationship between curiosity and knowledge. The more context we learn about a mystery, the more anxious we become to solve it”
“A market characterized by mistakes and mispricings can be beaten by people with rare insights. Thus, the existence of inefficiencies gives rise to the possibility of outperformance and is a necessary condition for it. It does not, however, guarantee it.”
“Never attribute to stupidity or malice that which can be adequately explained by structural alignment of incentives”
“Everyone who has taken a shower has had an idea, but it’s the people who get out of the shower, towel off, and do something about it that make the difference”
“We all make choices. Those choices put us on a road. Sometimes those choices seem small, but they put you on the road. You think about getting off, but eventually, you’re back on it.”