Book Summaries
Chapter 1: Investment Versus Speculation (The Intelligent Investor)
Keep investments and speculation separate. If you must speculate, make sure it is no more than 10 percent of investment funds. There is intelligent investment, but also intelligent speculation. Intelligent investing includes: 1) analyze soundness of business’ fundamentals.
Keep investments and speculation separate. If you must speculate, make sure it is no more than 10 percent of investment funds.
There is intelligent investment, but also intelligent speculation.
Intelligent investing includes: 1) analyze soundness of business’ fundamentals. 2) a plan to prevent catastrophic loss. 3) pursuit of reasonable return.
To speculate means to bet that the market price will conform to your expectations. Stupid speculation is when you speculate while you believe you are investing, speculating without the necessary knowledge and skill, and speculating with money you cannot afford to lose.
Many on wall street promote speculation because it produces money for the industry. Trendy formulas and systems are promoted, they may work for a while, but they all end up failing.
A successful speculator must act ahead of the latest trend. This is in contrast to intelligent investing, where trends don’t matter.
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Book Summaries
Chapter 2: The Terror of Death (The Denial of Death)
One of the main things that move man is the fear of death and heroism is a direct response to this modern rediscovery. Our primate ancestors ignored the cowardly and deferred to those who were extra-powerful. Man has elevated animal courage into a cult.
Book Summaries
Chapter 3: The Manufacture of Virtue: barter, trust, and rules after 50,000 years ago (The Rational Optimist)
> Looking around the world, there are plainly societies which manage their citizens’ lives well with good rules and societies which manage their citizens’ lives badly with bad rules. Good rules reward exchange and specialization; bad rules reward confiscation and politicking.
Book Summaries
Aristotle’s Ethics (A History of Western Philosophy)
There are two kinds of virtues: intellectual and moral, corresponding to the two parts of the soul. Intellectual virtues result from teaching, moral virtues from habit. To create a virtuous society, you must create laws that cause citizens to acquire good habits.
Book Summaries
Self-Deception
- Self-Deception– Herbert Fingarette –Summary YARPP List ### Related posts: 1. Will It Fly Summary (7/10) 2. Modern Man in Search of a Soul Summary (8/10) 3. Part 2: Stir Up The Transgressive and Taboo (The Art of Seduction) 4.