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Anyone can start something. Few can finish. Priorities change if you don’t constantly protect and defend them. You stop caring about keeping up with the competition, unless you mean the competition to have more stuff than the next guy, and instead of being addicted to building your career and your legacy, you become addicted to building bigger houses and more garages and adding more names to the party list. And pretty soon, you’re just part of a long list of nobodies with declining talent who bumbled themselves out of a job. Part of the commitment to hard work is knowing what you have to give up to do the work
Nearly two centuries later, psychologist Dean Simonton has gathered research supporting Quetelet’s early observations: the most accomplished scientists, artists, and scholars are also those who produce the most. Simonton explains that across many domains, personal productivity and social creativity are highly correlated. If we look at the pattern of creativity across an individual’s career, Simonton argues, the periods when a person produces their best work also tend to be the periods when they produce the most work. Measuring the number of highly acclaimed works and dividing them by the total can produce a kind of quality ratio. “This ratio of hits to total shots does not change in a regular pattern with age,” Simonton explains. “The ratio neither increases nor decreases, nor exhibits any other form. This remarkable result suggests that quality is a function of quantity.” Simonton proposes an “equal-odds baseline,” which suggests that, once a person begins contributing original work to their field, every attempt has roughly equal potential for world-changing impact.
Get Better at Anything
Scott Young
Value Traps in Elements of Value “Value trap” is a common epithet for stocks that disappoint or are expected to disappoint. It implies that some investing shortcut has indicated that a security is undervalued, yet it hasn’t performed well. What I dislike about the term is that it suggests that mistakes were made, but not by me. It doesn’t tell me how I screwed up, so I can avoid repeating my mistakes. Shortcuts and DCF analyses fail because of a weak link in one of the four elements of value—(1) profitability, (2) life span (3) growth, and (4) certainty.
Big Money Thinks Small
Joel Tillinghast
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