01-01-2015, 12:54 PM
(This post was last modified: 01-01-2015, 12:59 PM by earthtodan.)
Happy New Year! My resolution is to buy quality. Also, to try to be less distracted by my phone, including those Seeking Alpha notifications and watching the market throughout the day.
Regarding buying quality, right now I'm reading a great book called The Outsiders by William Thorndike, about a group of outstanding CEOs and how they used superior capital allocation to produce incredible returns for shareholders. This book is solely about capital allocation, but there are of course many other, less quantitative aspects to great management, which I will also try to learn to recognize.
Regarding being less distracted, on my reading list is The Organized Mind by Daniel Levitin, about how information overload affects our brains and how multitasking destroys our ability to do anything well. In a radio interview he talked about how the ability to stay focused is a more powerful predictor of success than intelligence, education, social privilege, or anything else you might expect.
Also trying to finish Berkshire Hathaway's letters to shareholders.
Regarding buying quality, right now I'm reading a great book called The Outsiders by William Thorndike, about a group of outstanding CEOs and how they used superior capital allocation to produce incredible returns for shareholders. This book is solely about capital allocation, but there are of course many other, less quantitative aspects to great management, which I will also try to learn to recognize.
Regarding being less distracted, on my reading list is The Organized Mind by Daniel Levitin, about how information overload affects our brains and how multitasking destroys our ability to do anything well. In a radio interview he talked about how the ability to stay focused is a more powerful predictor of success than intelligence, education, social privilege, or anything else you might expect.
Also trying to finish Berkshire Hathaway's letters to shareholders.