Compounding Knowledge

Post by LittleFishyChan » Fri, Feb 08, 2019, 11:14 AM UTC

cgag wrote: post #93

keiferski wrote: post #10

This concept is essentially the reason why “being able to quickly google the answers to questions” is inferior to “learning, knowing and remembering the answer.” The former treats a piece of information as an independent, context-free item, while the latter allows you to “digest” the information and understand the answer at a deeper level, to the point where it changes the types of questions you ask. Unfortunately ou…

It's shocking to me how every thread about anki and spaced repetition is full of people questioning if remembering information has any value.

Post by westurner » Sat, Feb 09, 2019, 9:22 PM UTC

throwawaymath wrote: post #92

tryptophan wrote: post #89

Earlier quoted context omitted.

Ill take it even farther: Buffet isn't statistically different than average. He just found a strategy that happened to work, was stubborn enough to stick to it through bad times, and used copious amounts of leverage to juice returns. A really interesting paper called "Buffet's Alpha" talks about this, and was able to replicate his performance by following a few simple rules. They found that he produced very little ac…

A summary of that paper from the authors is here: https://www.aqr.com/Insights/Research/Journal-Article/Buffet... . They work at AQR, a firm which is notable for being one of the only successful hedge funds to actually publish meaningful research. The paper's conclusion is noteworthy: > The efficient market counterargument is that Buffett was simply lucky. Our findings suggest that Buffett’s success is neither luck n…

Post by allochthon » Mon, Feb 11, 2019, 3:46 AM UTC

petra wrote: post #85

WhompingWindows wrote: post #46

Earlier quoted context omitted.

Google is inherently a shallow net, it does not trawl the depths of information. It's made for finding what's easily seen on the surface, what's most interconnected/viewed by others/what Google wants to be on the surface. If you learn to use Google scholar, for instance, you'll quickly find a skilled scholar searcher can find really great, really specific material. The question then is can you integrate and internali…

True. Both for the importance of Google Scholar, but also the question of integration . One way of course, is using your internal memory. But it's rather limited. Unless you're buffet like. But what about creating an external memory ? Maybe not as usefull as your brain, but much more usefull than Googling ? I've tried to do so with evernote. It somewhat work. But surely , it's not the person best that's possible.

Post by RickJWagner » Wed, Feb 13, 2019, 2:23 AM UTC

dennis_jeeves wrote: post #144

RickJWagner wrote: post #8

One of the greatest things about Warren Buffet is that he wants to share with everybody the techniques for accumulating wealth. YouTube is loaded with videos in which Buffet explains clearly how to get rich slowly but surely. He's even got a cartoon series for kids, the Secret Millionaire's Club. ( http://www.smckids.com/ ) Buffet has figured out how to reliably win the game, he wants everybody to have that ability.…

>YouTube is loaded with videos in which Buffet explains clearly how to get rich slowly but surely. I need to see one good video. Yes there are lot of videos of him but I want to see a video of him that explains to a common Joe, with common means on how to achieve modest financial success.

Post by SteveCoast » Wed, Feb 13, 2019, 10:40 PM UTC

niklasd wrote: post #159

SteveCoast wrote: post #78

Earlier quoted context omitted.

And, you can get a lot of the benefit "for free" by just buying BRK.B shares, without all the pain of drinking cherry coke all day and reading SEC filings.

I'm not so sure thats true from a financial perspective, at least if you mean him being an outlier. The financial market should have priced in these benefits, that means you can expect only normal "market" returns from these shares. So you won't get them for free.