I’m Just Now Realizing How Stupid We Are
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Re: I’m Just Now Realizing How Stupid We Are
#2Sadly, none of this would make any sense if I had not already learned it the hard way.
Re: I’m Just Now Realizing How Stupid We Are
#3Great lessons, for investors, business folk, developers, and actors.
Re: I’m Just Now Realizing How Stupid We Are
#4> I've learned that there's a strong correlation between knowledge and humility. People who spend 10 minutes on Google studying monetary policy think they have it all figured out, while people with Ph.D.s and decades of experience throw up their hands in frustration. The more you study economics, the more you realize how little we know about it.
This is the problem with Congress making decisions about science, the internet, and the economy.
Re: I’m Just Now Realizing How Stupid We Are
#5If you enjoy reading and absorbing this kind of knowledge, I suggest reading Meditations by Marcus Aurelius. It's a book of personal thoughts/writings/observations that Aurelius wrote while he was emperor of Rome. It's absolutely stunning how much knowledge from back then is still applicable in the modern world.
Re: I’m Just Now Realizing How Stupid We Are
#6> I've learned that how you reacted to past bubbles is a good indication of how you'll act to future ones. The same people buying dot-com stocks in 1999 were buying Miami condos in 2006 and gold in 2011.
There was a saying that emerged in the first .com boom -- "You know we're in trouble when the UPS guy is giving you Internet stock tips." Maybe we should ask the UPS guy every few months what he's excited about investing in? Canary in the coal mine, as it were...
Re: I’m Just Now Realizing How Stupid We Are
#7Great lessons, for investors, business folk, developers, and actors.
Or rather, for everyone, at least those that are not economics related. My favourite one:
"I've learned that strong political beliefs in either direction limit your ability to make rational decisions more than almost anything else."
Actually you can just leave the 'political' away and it only becomes more general truth.
Re: I’m Just Now Realizing How Stupid We Are
#8> I've learned that how you reacted to past bubbles is a good indication of how you'll act to future ones. The same people buying dot-com stocks in 1999 were buying Miami condos in 2006 and gold in 2011. There was a saying that emerged in the first .com boom -- "You know we're in trouble when the UPS guy is giving you Internet stock tips." Maybe we should ask the UPS guy every few months what he's excited about inves…
And now they are buying bitcoin.
Re: I’m Just Now Realizing How Stupid We Are
#9If you enjoy reading and absorbing this kind of knowledge, I suggest reading Meditations by Marcus Aurelius. It's a book of personal thoughts/writings/observations that Aurelius wrote while he was emperor of Rome. It's absolutely stunning how much knowledge from back then is still applicable in the modern world. http://en.wikipedia.org/wiki/Meditations
+1 for bringing this up. Might have been on HN before, but it cannot be stressed enough what a great mind he was. Especially his striving for 'good' in his writings is leaves a bitter taste in my mouth everytime I read it because I know I'm still far from being good. Well, something that can make you think like that is superb.
Re: I’m Just Now Realizing How Stupid We Are
#10[deleted]