Showing posts with label Obstacles. Show all posts
Showing posts with label Obstacles. Show all posts

Monday, August 16, 2021

Unlearning and Embodying

Josh Waitzkin talks about different stages of taking on what we know in “The Art of Learning”. The Tim Ferris approach, as described in "the 4-Hour Workweek", focuses on the initial stages where you can pick up skills incredibly fast with a set of hacks. You don’t need to know everything to get pretty good. You don’t need to understand the why, just the how. To get to the top 100 in the world is completely different from the journey from 10th in the world to being the best there is. 

For the mastery Waitzkin focuses on, you get to the point where what nudges you forward is unlearning and embodying. In the fast initial stages, you pick up bad habits. Useful rules of thumb that mix in what works with things that don’t. Our sense of cause and effect reinforces hows that seem to work better than what we did before. Success stops us from learning. We only unpack failure. Then hubris and projected confidence kick in where people who are relatively good start defending themselves and their approach. Behaviours are deeply embedded, and letting go feels like stepping back from the success that has been hard-won. 

How do you tweak without destroying everything? How do you work out the niggles in a system that works in ways you value, while being stuck in ways that hold you back?

Thursday, July 16, 2020

Reality Check


There are four broad categories of investors in Asset Management Funds. Institutional, High-Net-Worth-Individuals (HNWI), Retail, and those who get left out because the economics are hard. Institutional investors are Pension Funds, Fund-of-Funds, Company Assets, Insurance Companies, Endowments (e.g. Universities), Charities and Governments. Investment Committees make the decision to invest on behalf of others. They pool the assets to reduce the costs. HNWI are rich people. They make their own decisions, or get an adviser. Retail Investors are non-professional but still have enough to invest that the expenses don’t completely swallow the growth. Not having money is expensive. Scale makes things cheaper. One of the hardest problems to crack is making investing accessible. Two companies I follow with interest working on this problem are Franc (www.franc.app) which aims to make investing affordable and social, and Meerkat (www.meerkat.co.za) which focuses on those who are in a hole of debt. Charting a path off debt reliance and providing cover for the clear and present emergencies that can make long term capital building a pleasant unicorn frolicking in another reality.