📚 Edwin's Highlights

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A batch of the best highlights from what Edwin's read, .

On the basis of these undeniable facts many financial authorities have concluded that (1) bonds are an inherently undesirable form of investment, and (2) consequently, common stocks are by their very nature more desirable investments than bonds. We have heard of charitable institutions being advised that their portfolios should consist 100% of stocks and zero percent of bonds.* This is quite a reversal from the earlier days when trust investments were restricted by law to high-grade bonds (and a few choice preferred stocks).

The Intelligent Investor, Rev. Ed

Benjamin Graham, Jason Zweig

Learning from experience is what allows you to make better decisions as you go along. Resulting keeps you from sharpening the view into your crystal ball, making you a worse predictor of the future because you skip lessons you could get from the past. An insidious cost of resulting is that you don’t question your assessment when decision quality and outcome quality align. When that happens, especially when things worked out, your decisions are more likely to remain unexamined while you just accept your intuition, which tells you, “Nothing to see here.”

How to Decide

Annie Duke

My first company @twitch sold for a billion dollars. My second one lost $75 million in 36 months. People love talking about success, but today I'm going to talk about failure. It's time to be honest about Atrium: ![](https://pbs.twimg.com/media/E2W8tF9VkAIHSLf.jpg)

My First Company @Twitch...

@justinkan on Twitter

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