What I read/listened-to the week of 10/21?
What I read
This Is The Mind-Set You'll Need In Order To Thrive In The Future Of Work - Fast Company
- Dealing with unpredictability requires what one Harvard psychologist has called a “self-transforming mind.” Here’s how to develop one.
- Psychiatrist and futurist Charles M. Johnston has developed a concept he calls “cultural maturity,” based on some four decades of research. To help clients achieve cognitive upgrades, Johnston offers an exercise that goes something like this. Start by seating yourself in a chair and articulate a specific challenge that you feel uncertain how to solve–maybe you’re worried that your job will be automated, for instance, and don’t know whether to make a career move. Then ask yourself who else is in the room and set out a chair for each of them, which may include the angry part of you, the fearful part, or even the part that’s excited by possibilities for change.
To Beat the Market, You Have to Outsmart Yourself
- The inward-facing world rules many aspects of investing. For example, over the past dozen years, FAANG companies drove the vast majority of returns in the public markets. And yet, many investors missed the opportunity to buy into these companies despite strong fundamentals that would have satisfied conventional analysis. Why? Because the opportunity was “too obvious.” These were already the largest cap public companies and every investor argued that further upside was already “priced in.” That makes sense, but the other insight here is that investors are naturally egotistical—they want to be right AND clever. An investor who makes money through the consensus investment thesis challenges their own self-worth as a producer of alpha. FAANG companies were disproportionately overlooked by capital allocators who searched for an “underdog” elsewhere that they could find returns in. Examining this behavior yields a previously non-obvious takeaway: It is easy to underestimate how dominant market leaders truly are.
What I listened to
Ric Elias - The Art of Living Well
Ric delves into philosophical topics such as the difference between living a "good" life versus a "well" life, and the importance of finding inner peace and purpose beyond just accumulating wealth. He also shares a powerful story about being on the plane that Captain Sully landed on the Hudson River, and how that near-death experience shaped his perspective on life.
Throughout the conversation, Ric emphasizes the value of forgiveness, both for others and for oneself, and the need to let go of ego and guilt. He also talks about his views on leadership, investing, and the role of AI in shaping the future of businesses.
Have a great week ahead!
a 100-year old church at U district in Seattle
