There is a line often attributed to Lenin: sometimes decades pass and nothing happens, and sometimes weeks pass and decades happen. I have been thinking about this all month — not as a historical observation but as a lived experience. War arrived in my region. The portfolio drew down nearly 16% from its peak. I found myself, one evening, toggling between a missile trajectory map and a brokerage …
In the summer of 1720, an English citizen holding government debt could walk into the offices of the South Sea Company and execute a simple exchange. They would hand over an illiquid state annuity and receive an equivalent market value of South Sea Company stock in return. On the surface, it looked like a routine upgrade in personal liquidity. The citizen was trading stagnant paper for a dynamic …
There are two ways to lose money in the stock market. The first is to be wrong. The second is to be right but not long enough. I’ve done both. The second one hurts more. I had done the work. Weeks of it. Financial statements, competitive analysis, management track record. The thesis was sound. I bought with conviction, the kind of conviction you feel in your chest. Then the stock dropped. …
Somewhere in the opening pages of The Hitchhiker’s Guide to the Galaxy, a starship called the Heart of Gold is hurtling through space. Its passengers: an anxious Earthman named Arthur Dent, a two-headed ex-president of the galaxy, and a chronically depressed robot named Marvin, are strapped in and terrified. The ship lurches. Stars blur into streaks of light. Reality itself seems to hiccup. …
On a recent flight back to my home city, I played Battleship with Hamza. Two grids, hidden boats, and you take turns calling out coordinates. B4. Miss. D7. Hit. You drop bombs blindly onto a map, hoping to strike something before your opponent strikes you. Hamza celebrated every hit with the joy only a child can muster for destruction that isn’t real. Now debris is falling on the city I …
Jay Gatsby stood at the edge of his dock, staring across the water at a green light. He had done everything right. He had accumulated wealth through means he never disclosed. He had purchased the mansion directly across the bay from Daisy Buchanan. He had thrown parties so lavish that strangers wandered in from the streets of West Egg, hoping that one night she might wander in too. He had …
The myth of Procrustes is a story about the arrogance of the host. He was a small-time king on the road to Athens who offered “hospitality” to travelers. He had a bed of iron. If you were too short for the bed, he would hammer your body and stretch your joints until you fit the frame. If you were too tall, he brought out a saw. He was obsessed with the symmetry of the fit. He never …
Imagine a chief in the Pacific Northwest; let’s call him the Big Man. For five years, he lives a life of grueling self-denial. He wakes before dawn to repair nets. He bullies his family to weave endless stacks of cedar-bark blankets. He forces his kin to press thousands of gallons of candlefish oil until their hands are stained and their backs break. He isn’t doing this because he is …
In 1636, a merchant in Amsterdam traded twelve acres of land for a single Semper Augustus tulip bulb. He was not a fool. He was a rational actor operating in a market that had lost its tether to reality. He didn’t buy the bulb to plant it; he bought it because he knew that in a week, a “greater fool” would pay him double. For months, this logic held. The price of tulips had …
In Homer’s Odyssey, Penelope is trapped. Her husband, Odysseus, has been missing for twenty years. Her palace in Ithaca is overrun by 108 suitors. They are loud, drunk, and aggressive. They slaughter her cattle and drink her wine, demanding she choose one of them to marry. Her dilemma is agonizing. She doesn’t know if Odysseus is alive or dead. If she chooses a suitor now, she betrays the …
In 1998, the stock market was in a state of euphoria. The Dot-com bubble was inflating, and everyone looked like a genius. But in Omaha, Warren Buffett was quietly dealing with a problem that could have ruined him. Berkshire Hathaway was trapped. After a decade of massive returns, Buffett’s portfolio was dangerously top-heavy. He was sitting on billions in unrealized gains, and his exposure to …
I first noticed crypto the way most people do. Prices were moving. Headlines were getting louder. Everyone seemed to have an opinion. This was 2021. Bitcoin was climbing fast. I watched. I stayed out. I told myself I was being disciplined. Skeptical. Rational. Then, sometime in 2022, as prices pushed toward what was then the all-time high around $60,000, something shifted. The hesitation that had …
In retail, shrink is treated as a fact of life. Some inventory disappears. Some gets damaged. Some is miscounted. Most large chains plan for it the way they plan for bad weather. Usually somewhere between one and two percent of sales just vanishes each year. It doesn’t sound like much. Until you remember where it comes from. Shrink hits gross margin directly. One dollar lost is one dollar gone. …
Most people have been inside a house they don’t own but know intimately. You notice the creak in the hallway long before guests do. You know which window sticks in winter. You know where the light falls in the afternoon and which rooms cost more to heat than they should. Living in a place gives you a kind of knowledge that doesn’t show up on a floor plan. Buying a house with a mortgage is built …
“A forest fire doesn’t start because lightning exists. It starts because the forest was already full of dry brush.” —David Dredge Lightning hits the ground thousands of times a day. Most strikes disappear into dirt. But one strike hitting a stretch of accumulated branches, leaves, and tinder becomes a catastrophe. The event is the same. The outcome depends entirely on where it hits. That idea …
Imagine you’re standing on a watchtower overlooking a vast, wintry landscape. Down below, the scene is a blizzard: swirling snow, howling winds, flashes of news headlines, blinking price tickers, anxious voices in every direction. From ground level, visibility is nearly zero. The snowstorm is all around you, demanding constant attention and filling you with the urge to react quickly. Every gust …
In 2005, Amazon puzzled most investors. Its strategy seemed to defy business logic. The company kept reinvesting its potential profits, driving down prices, and building expensive infrastructure. Wall Street analysts saw inefficiency and waste. They focused on metrics like operating margins, which remained stubbornly low. The stock price reflected this skepticism, having fallen nearly 80% from …
I recently turned 40, and when my wife asked what I wanted for my birthday, I answered without hesitation: “A home library.” Not a trendy shelf for coffee table books, but the real thing: floor-to-ceiling shelves, rows upon rows, the kind of library that demands its own ladder. We live in a small apartment in downtown Dubai. Space is a luxury we don’t have. But my wife, never one to shrink from a …
20 April 2020, my Facebook and Twitter feeds lit up with screenshots and hot takes: oil had “gone below zero.” Threads asked where to click to get paid to buy crude. For a minute, it looked like a free lunch. It wasn’t. What actually printed negative was the expiring May WTI futures contract at Cushing, Oklahoma. That contract ties to physical delivery. If you hold it into expiry, you don’t “own …
Hibbing is cold and far. A mining town where winters press in and music travels by radio and records. Robert Zimmerman grew up there with a drum in one photo and a guitar by ten. By high school he was covering Elvis and Little Richard in small gyms and VFW halls. His yearbook guessed he’d join Little Richard. He didn’t. He went south to the University of Minnesota and stopped going to class. He …
In 1975, Walmart’s cash conversion cycle told a stark story: merchandise spent 95 days in the supply chain before generating cash. The physics of retail meant that for every dollar of sales, another dollar had to be tied up financing inventory’s journey through ports, warehouses, and backrooms. The working capital requirements were staggering. Today, that same supply chain had been …
In Sir Walter Scott’s “Tales of a Grandfather,” published in 1827, he recounts a legendary tale of perseverance that has inspired generations. As the story goes, in the winter of 1306, Robert the Bruce found himself in a small cave on the Isle of Arran, a defeated king watching his dreams of Scottish independence crumble. Six times he had led his armies against the English, and …
Language shapes thought. When Jim Collins began his research for Good to Great, he explicitly told his team to avoid focusing on leadership. He was skeptical of attributing too much success to individual leaders. After all, if a company succeeds, we call its leader great; if it fails, we say they weren’t. A circular logic that teaches us nothing. But his research team pushed back. They saw …
We all have a story we tell ourselves about how food reaches our table. A farmer harvests wheat under the sun. The grain travels to storage silos rising against the horizon. From there, it moves through processors and manufacturers, eventually landing on shelves at Carrefour or Spinneys as bread or pasta. A neat, linear journey from field to fork. I believed this story too, until I didn’t. …
“You need to stop defining yourself by your titles and degrees. Here, nobody cares about that. They care about who you are.” The words from my Toastmasters evaluator land with unexpected weight. Moments earlier, I had stood before the group, delivering what was supposed to be a speech about myself. Instead, I had retreated to the comfort of familiar credentials: Chartered Accountant, …
The old farmer’s horse broke free one morning and ran away. Word spread through the village, and his neighbors came to his farm. “Your best horse is gone,” they said. “What terrible luck.” The farmer looked at them and replied, “Maybe good, maybe bad. Who knows?” A week later, the horse returned, leading a group of wild horses to the farmer’s land. …
The morning air bites at your cheeks as you stand at the base of the mountain. Above, the peak vanishes into clouds, existing in another world entirely. Your goal waits somewhere in that hazy distance. The first few hundred feet of trail snake up the slope before disappearing into mist. Beyond that lies only questions and uncertainty. You squint upward, searching for the next step while the …
I’ve been thinking about mediocrity lately. Not the glaring kind that comes from carelessness, but the insidious variety that wears a mask of competence. It’s that quiet voice at midnight whispering “it’s good enough” when you know there’s more to uncover, more to refine, more to perfect. The voice that’s been my companion through countless late nights at …
I used to think I was being analytical about markets. Every day with my afternoon coffee, hours before markets opened, I’d scan headlines and hunt for patterns in price charts like an archaeologist decoding ancient runes. A 20% increase meant only one thing: time to take profits. A 30% drop was either a value trap or the opportunity of a lifetime. I could never quite decide which. The …
I’m staring at my screen, watching a sea of red numbers flash by. My carefully constructed options position: a LEAPS call spread I’d spent weeks analyzing, is down 15%. The thesis was solid: buy long-dated calls on a fundamentally strong company, sell out-of-money puts to offset the theta decay. Hold for 9-12 months while the story plays out. Simple enough on paper. But papers …
[ ](“How does one go bankrupt?” Hemingway wrote. “Two ways. Gradually, then suddenly.” In “Too Close to the Wind” by Dirk Shutz, a gripping account of Credit Suisse’s collapse that perfectly illustrates Hemingway’s observation. Through meticulous reporting, Shutz shows us how a 167-year-old banking giant, which had weathered world wars and the Great …
I sit at my desk, staring at another set of financial statements that needs my review. My laptop pings with urgent emails from the CFO. My phone buzzes with Teams notifications. Around me, the machinery of corporate finance whirs; deadlines to meet, memos and presentations to update. At 40, I’m what they call mid-career. A Finance Director at a major corporation. I exercise every day, try …
In Japanese business philosophy, there’s a concept called “Keiei” that captures something about adaptation and survival. It teaches that success doesn’t come from rigid adherence to plans, but from reading and responding to changing conditions; like a martial artist who moves with their opponent rather than forcing predetermined techniques. It’s a principle that …
There’s a peculiar irony in how our greatest achievements often create our biggest constraints. The more effective our solutions become, the harder it gets to imagine alternatives. The better our chosen path works, the more resistant we become to changing course. Joseph Heller captured this paradox perfectly in Catch-22. His protagonist Yossarian faces an impossible choice: continue flying …
We construct stories to make sense of our lives. Sometimes these stories become prisons of our own making. Recently, what began as a simple misunderstanding over coffee evolved into days of tense silence. In isolation, I crafted an elaborate narrative where I was the wounded party. Each hour of silence became evidence supporting my version of events. The longer she went without reaching out, the …
My jaw clenches as I scan through the feedback on my latest draft. Every suggested edit feels like a personal affront. “But this is perfectly clear!” I seeth internally. “The meaning is obvious. Who does she think she is?” My manager has this maddening habit of reimagining sentences that aren’t even wrong, just apparently not up to her standards. I’m about to …
There’s a stone cutter working on a mountain. Each strike of his chisel is deliberate, skilled. He knows exactly how to split the rock, where to find the seams that will yield to his tools. But something isn’t right. He sees a merchant pass by in fine clothes, commanding respect. The stone cutter stops his work and thinks: “That could be me.” A strange thing happens. He …
In 1965, Warren Buffett took control of a struggling textile business called Berkshire Hathaway. On paper, the company looked modestly profitable, neat rows of depreciated machinery, tidy inventory valuations, and thin but positive earnings. The accounting numbers whispered possibility. But reality told a harsher story. But beneath these neat accounting figures lay a brutal reality. The textile …
There are few conversations that make you rethink the fundamentals of how modern finance functions—and fewer still that manage to blend bank balance sheets, behavioral risk, and the role of central banks into one compelling narrative. In this four-part conversation, Guy Spier sits down with Eric Schaanning to unpack the mechanics of banking risk through the lens of Silicon Valley Bank, the …
“The worst flood in Austin’s history,” they called it. A hundred-year flood. The kind of event that’s so rare, so improbable, that you don’t even plan for it. On Memorial Day 1981, those statistics didn’t matter much as twelve feet of water crashed through Whole Foods’ flagship store in Austin, destroying nearly everything in its path. The store had been …
Every Sunday morning, I’d grab the kids’ supplement from our newspaper and flip straight to the maze puzzle. Like most children, I’d start at the beginning, trying to find my way through the twisting paths to the end. My page would end up a mess of scribbled lines - false starts and dead ends marked in heavy graphite. Then one day, I tried something different. Instead of …
High up in the winter sky, two powerful forces were having an argument. The North Wind, fierce and proud, was convinced of his supreme strength. The Sun, warm and patient, listened as the Wind boasted about his ability to bend trees and create storms. “I am clearly the stronger one,” huffed the North Wind. “Look how I can scatter leaves and make mighty oak trees bow before …
“It’s hard to believe that a business could be worth many billions by essentially giving things away,” Charlie Munger once remarked about his favorite company, Costco. The business model seemed to defy conventional retail wisdom: a company that deliberately limited its markup to 14% on most products, yet consistently generated enormous cash flows. Last year, this approach …
Every morning at 5:30 AM, before Portland stirred to life, Phil Knight laced up his running shoes. The crisp Oregon air bit at his face as he logged his daily miles, his mind already racing ahead to the mountain of accounting papers waiting at his desk. By day, he was a CPA at Coopers & Lybrand, later moving to Price Waterhouse, methodically working through tax returns and balance sheets. But …
I would sit by Hamza and Anya’s bedside and read them the story of The Velveteen Rabbit. There is something magical about that dialogue that stayed with me long after they would have fallen asleep: “What is REAL?” asked the Rabbit one day. “Does it mean having things that buzz inside you and a stick-out handle?” “Real isn’t how you are made,” said the …
I still remember that evening in my home office, the city lights twinkling outside my window as I watched my trading dashboard light up with another successful options trade. My P&L chart looked like a hockey stick pointing to the stars. While the S&P and NASDAQ were delivering their usual single-digit returns, my portfolio had soared by triple digits in just six months through a series …
A man stands alone in a vast field under a cloudless blue sky, sweat dripping down his weathered face as he methodically cuts another plank of wood. The year is approximately 2400 BCE, and to his neighbors, Noah looks like a madman. Day after day, for twenty years, the rhythmic sound of his tools echoes across the land—sawing, hammering, measuring, building. This story of unwavering conviction …
In circus traditions across Indian subcontinent, there’s a peculiar method for keeping elephants in place. When the elephants are young, trainers tie them to a stake with a heavy rope. The baby elephant pulls and struggles, but the rope is too strong. After countless attempts to break free, something remarkable happens: the elephant stops trying. Years later, even when the elephant grows …
In 1953, the most powerful oil executives in the world gathered in a New York boardroom. They had a problem: a Greek outsider was threatening their decades-long control over the oil industry. This man had started with nothing - a refugee who once worked as a $12-a-month telephone operator - but was now building ships larger than anyone had ever seen. Ships that could carry more oil, at lower …
“Just one more workaround,” the vendor assured us, for what felt like the hundredth time. We were months into implementing a financial consolidation system and still chasing the promise of a critical feature that would make everything work: the org-by-period functionality. Like skilled craftsmen, we kept building elaborate workarounds, documenting processes, and training teams – …
Like most people, I used to be obsessed with to-do lists. Every Sunday night, I’d sit down and write out everything I needed to do that week. The list would stretch on and on. Work stuff, personal projects, errands, goals - you name it. I’d wake up Monday morning, look at that massive list, and attack it like a madman. Sound familiar? That was me being the hare from that old story …
History books tell us Henry Ford revolutionized the automotive industry. But in 1932, at the height of the Great Depression, it wasn’t Ford who was hunched over a drafting table in a secluded room at Ford’s engineering laboratory. It was Charles Sorensen, his right-hand man of nearly three decades, who would spend sleepless nights turning Ford’s ambitious dreams into mechanical …
There’s an old folktale about a hungry traveler who arrives in a village during hard times, carrying nothing but an empty cooking pot. The villagers, protective of their meager supplies, shut their doors and close their curtains. But the traveler, undaunted, has a plan. He goes to the village stream, fills his pot with water, and places it over a fire in the town square. From his pocket, he …
Remember the fable of the Ant and the Grasshopper? While the grasshopper fiddled away under the warm summer sun, the ant spent its days dragging food back to its colony. “Why waste such beautiful days with work?” the grasshopper would mock. “Winter is far away, and there’s plenty of food now!” But the ant kept working, methodically storing grain, building stronger …
In ancient Babylon, around 1750 BC, King Hammurabi carved his laws into massive stone pillars for all to see. Among these laws was a principle so fundamental that it would shape civilization for millennia to come. If a builder constructed a house, his reputation, livelihood, and life were bound to its stability. Should the house collapse and kill its owner, the builder would forfeit his life. If …
The call from his teacher caught me off guard. My son had been bullying other kids in class. When I confronted him at home, he broke down crying. Through his tears came the explanation: “My friends told me to do it. They said they wouldn’t be friends with me if I didn’t.” Maybe he was trying to dodge responsibility. Kids often do. But those tears, that raw fear of losing …
Growing up in Pakistan in the 1990s, LEGO was more than just a toy—it was a luxury few could afford. I still remember visiting my cousins’ house during summer breaks, where they had entire shelves dedicated to LEGO Star Wars and City sets. While they would build X-wing fighters and space stations, I would sit quietly, watching in awe as they connected brick after brick with that satisfying …
The fluorescent lights of the highway rest stop flicker as you splash cold water on your face. It’s 2 AM. The harsh white light accentuates the dark circles under your eyes in the scratched bathroom mirror. Your reflection looks like a stranger – disheveled, exhausted, running on nothing but coffee and determination. The meeting that could change everything is eight hours away. Your phone …
In 1901, the richest man in the world did something unthinkable. Andrew Carnegie, who had just sold his steel empire for $480 million (over $15 billion today), announced he was giving it all away. Not to his family. Not to his friends. But to strangers—to build libraries, fund education, and create opportunities for those who, like him, started with nothing. The newspapers thought he’d lost …
We live in a world of proclamations. “I trust him with my life.” “She’ll never let me down.” “This investment is a sure thing.” These absolute statements flow easily from our lips, shaping our decisions and relationships. But what happens when we add two simple words to these declarations? “Wanna bet?” The question cuts through the fog of …
Every time I make an investment decision, I pause. My 49-inch curved monitor looks like mission control - stock charts sprawled across one section, option chains on another, and a spreadsheet with more numbers than I care to count. The setup makes me feel like a Wall Street professional, even though I’m trading from my home. Before I click “execute,” I say a silent prayer. Then …
I’ve been thinking a lot about Nassim Taleb’s story of Nero Tulips in “The Black Swan.” Here was a trader who spent most of his career looking foolish, losing small amounts on crash insurance, only to make it all back (and more) in a single market collapse. What fascinates me is how he understood something that most miss: in markets, the rare catastrophic events might …
Show me how you measure me, and I’ll show you how I behave. This fundamental truth about incentives runs through every business decision ever made. As Adam Smith observed in The Wealth of Nations, “It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own interest.” Like a river, incentives shape the …
“My portfolio is up 70% this year,” shared a close friend in our WhatsApp investment group. “That’s almost triple the S&P 500’s returns.” The group celebrated his success, and naturally, everyone wanted to know his secret. When I asked him about the role of luck versus skill in his impressive returns, he thoughtfully considered the question. While …
There’s an old story about a rich merchant who visits a Zen master. The master pours tea into the merchant’s cup until it overflows. Tea spills everywhere. “The cup is full!” says the merchant. “Why do you keep pouring?” “Like this cup,” says the master, “your mind is too full to learn anything new.” I had the same problem when I first …
Growing up in Pakistan, I often heard people refer to my country as a “banana republic.” The term was thrown around casually in newspapers and political discussions, a stinging criticism of government instability and foreign influence. The irony was that Pakistan had nothing to do with bananas. It wasn’t until I read about Sam Zemurray that I understood the dark origins of this …
The classroom was stuffy on that Montana afternoon in 1963. A group of freshman English composition students sat at their desks, the scratch of pencils against paper the only sound breaking the silence. They’d been grading each other’s essays for weeks now, confidently marking A’s and B’s, identifying good writing from bad without a second thought. “And what is good, …
The following is a prepared speech for Project 2: “Writing a Speech with Purpose” in Toastmasters Pathways Level 1. The speech aims to share a personal story that connects with universal themes of change and acceptance. It was adapted from my original essay. Introduction “Will it stay here forever, Baba?” My five-year-old (he is currently seven at the time of this speech) …
EBITDA (Earnings Before Interest Tax Depreciation and Amortization) is a peculiar measure. On one hand, it offers a clean way to compare companies across industries by stripping away capital structure decisions and accounting choices. It can serve as a useful proxy for cash earnings, helping investors understand a business’s core operational performance. But there’s a darker side too …
In his thought-provoking book “The Black Swan: The Impact of the Highly Improbable,” Nassim Nicholas Taleb tells us a story that captures the essence of how humans deal with uncertainty. In a fortress perched on the edge of a vast plain, a young officer named Drogo begins his watch. Each morning, he scans the horizon for signs of the legendary Tartar invasion. Each evening, he reviews …
Nassim Taleb, the author of The Black Swan and Antifragile, often illustrates the dangers of unforeseen events with a story he calls the “Turkey Problem.” A turkey lives a comfortable life for 1,000 days, fed and cared for by humans, believing that each day reaffirms its safety. On the 1,001st day, Thanksgiving arrives, and the turkey’s world changes drastically. Taleb uses this story to show how …
I thought I had found the perfect strategy. Selling put options on quality stocks seemed like a no-brainer - either I’d collect the premium, or I’d get assigned shares at a price I was willing to pay. When assigned, I’d sell covered calls to generate additional income. The strategy was working beautifully, beating market returns, and I started dreaming about the day this income …
Let me tell you about my first time at Trader Joe’s. I was in Maryland one winter, stuck in a hotel with two kids while Sana was away at business meetings. If you’ve ever had to entertain children in a hotel room during winter, you know the feeling of desperately seeking ways to pass time. There was a Trader Joe’s a block away from our hotel. I’d never been to one before - …
Couple of months after my daughter was born in 2022, my wife told me that she has had enough of me, and things looked bad. This had happened after yet another angry outburst on my part. Not only at her, but it had started with the security guard. That September evening as I sat, reflecting on where my life was heading, I wondered how I had gotten here. On the surface I had everything, I was a …
Charlie Munger never sought the spotlight. For decades, he sat beside Warren Buffett at Berkshire Hathaway’s annual meetings, occasionally interrupting his partner’s explanations with a characteristically blunt “Warren, that’s not quite right.” This willingness to speak truth, even when uncomfortable, helped shape one of the greatest business partnerships in history. …
I once heard a story about a fisherman who lived in a small coastal village. Every morning, he would take his small boat out to sea, catch a few fish, return by noon, and spend the rest of his day playing with his children, taking siestas with his wife, and enjoying evening drinks with his friends. One day, a businessman from the city noticed his routine and approached him. “Why don’t …
Imagine facing a monster with multiple heads. You swing your sword, slice off one head, and feel accomplished. But then, two new heads grow back in its place. That’s the Hydra from Greek mythology. It doesn’t just survive attacks - it gets stronger from them. Nassim Taleb would call the Hydra “antifragile.” In his book “Antifragile: Things That Gain from …
Every time we invest, aren’t we hoping the price will go up? But if we’re relying solely on that hope, are we just waiting for a bigger fool to come along? This question cuts to the heart of the greater fool theory, a concept that’s particularly relevant in the world of cryptocurrency. It’s a game where each investor hopes to sell to someone else at a higher price. But …
It’s a common sentiment: we’d die for our kids. But what’s truly challenging, and perhaps more important, is living for them. Our children don’t want our sacrifice; they want our presence. They want us around, active, engaged, and healthy. Not just for a moment, but for years to come. The desire to live longer is nearly universal. We all want more time - more sunrises, …
Warren Buffett once posed a thought experiment to a group of students. He asked them to imagine they could have any car they wanted, but it would be the only car they’d own for the rest of their lives. ‘How would you treat that car?’ he asked. The answer is obvious. You’d maintain it meticulously. You’d protect it from damage, service it regularly, and treat it with …
Growing up in Pakistan, cricket was my thing. It was the thread that connected me to my dad. A former army man who claimed he could have played first-class cricket had he not joined the army during the 1971 war, my dad was still an impressive player even in his late 40s. His love for the game was infectious, and I found myself captivated by every aspect of cricket. When my high school announced …
Ever wonder how a small-town rubber company became a global tire giant? That’s the story of Firestone, and it’s more than just rubber meeting the road. In 1900, Harvey Firestone kicked things off in Akron, Ohio. He started small, making rubber tires for carriages. But Firestone wasn’t just about the product - he had a vision that went way beyond tires. As cars started taking …
Have you ever achieved something significant, only to feel like you don’t quite deserve it? If so, you’re not alone. This feeling is known as imposter syndrome. Psychologist Pauline Rose Clance, who coined the term, describes it as “the phoniness in people who believe they are not intelligent, capable or creative despite evidence of high achievement.” I’ve wrestled …
Ever wonder how a 52-year-old milkshake mixer salesman became the mastermind behind one of the world’s biggest fast-food empires? That’s the story of Ray Kroc and McDonald’s. Ray wasn’t your typical entrepreneur. He spent decades grinding it out in various jobs - selling paper cups, working as a real estate agent, even playing piano in bands. But it was his keen eye for …
Life often seems to present us with either-or choices. Stay or go. Risk or safety. Present comfort or future security. At first glance, these are mutually exclusive. Can either have this or that? From time to time, I grapple with one of these dilemmas. I left my home in Pakistan for a place where gleaming towers rise from the desert sands. It’s a modern oasis of opportunity, offering what …
A few years ago, I was involved in an Enterprise Performance Management (EPM) implementation. Our goal was simple: increase operational efficiency and streamline financial reporting processes. We were convinced we had found the perfect solution, a cutting-edge SaaS product that promised the newest and best features. But as we dove deeper into the project, things started to unravel: Our initial …
Matthew Dicks is right — every one of us has a story to tell. Whether on stage or on the page, we all possess narratives waiting to be shared. But the art of storytelling isn’t just about having a tale; it’s about how well you can tell it. And in my case, I discovered I had some work to do. A colleague who brought this to my attention, their words as blunt as they were eye-opening, …
Most of us, myself included, are drawn to financial markets. Depending on how you approach it, call it trading or investing. There’s this allure, this promise of financial freedom that keeps us coming back. But here’s the thing – if we look at the track record of retail traders, it’s not exactly a highlight reel. It’s more like a blooper reel. Why do we keep at it? …
Ever wondered why some businesses thrive while others struggle? Why some businesses have longevity and others wither away after a burst of success? Often, it comes down to capital allocation - a concept that’s crucial yet frequently misunderstood. At its core, capital allocation is about doing more with less to create value for customers. And when we talk about customers collectively, …
Ever felt like the world’s out to get you? Don’t worry, you’re not alone. We all sometimes think our bad luck is part of some big plan to mess with us. But what if it’s not that complicated? What if most of our daily headaches aren’t because of some evil plot, but just… people being stupid? That’s where Carlo Cipolla comes in. He’s an Italian …
Have you heard the story of the Chinese bamboo tree? For the first four years after planting, you see no visible signs of growth. Not a single sprout above the soil. But if you’re patient and keep watering and nurturing it, something amazing happens in the fifth year. The bamboo suddenly shoots up, growing as much as 80 feet in just six weeks. Now, here’s the million-dollar question: …
Derek Sivers didn’t set out to start a business. He just wanted to sell his music online. But in 1997, his friends asked him to help them do the same. This led to the birth of CD Baby. In his book “Anything You Want,” Sivers shares his journey through 40 bite-sized essays. He takes us from those early days to 2008, when he sold the company for $22 million. But he gave it all …
How important is it to understand what you invest in? It’s a question that’s been debated for ages in the investing world. Warren Buffett and Charlie Munger, two of the most successful investors of our time, swear by the concept of “circle of competence.” They believe that you should only invest in companies and industries that you deeply understand. But what if there was …
What is the cost of making an incorrect prediction? Loss of Life? A few billion dollars? Sullied reputation? A lost job? It could be any or all of these or more. Before the Iraq War, the Bush administration made some bold claims about Iraq having weapons of mass destruction. They said these WMDs posed a serious threat to the U.S. and its allies and used this as the main reason for invading Iraq. …
In the movie “Gladiator,” do you remember the scene where Maximus, played by Russell Crowe, reveals his identity and faces Commodus? The atmosphere is charged with tension as the crowd watches. Maximus, wearing a helmet that conceals his identity, turns slowly to face Commodus, who is eager to see who this mysterious gladiator is. As Maximus removes his helmet, the suspense peaks. The …
A degenerate gambler down on his luck. No matter how carefully he placed his bets, he always seemed to come up short. One day, he heard about a race with only one horse in it. It seemed like a sure thing, a chance to finally turn his fortunes around. So, he took all the money he had set aside for rent and put it on this lone horse. The race began, and the gambler watched with anticipation as the …
It’s 2018, and XPO gets hit with a “short” report. The stock takes a beating, losing 26% in a single day. But instead of getting into a mudslinging match with the short-sellers, Brad Jacobs and his team stayed focused on what mattered. They knew the facts in the report had been twisted, and they were confident in XPO’s financial health. In fact, they realized the whole …
When Bayes’ friend Richard Price was sorting through his papers, he stumbled upon an essay with an intriguing title: “An Essay towards solving a problem in the Doctrine of Chances.” As Price read through the old document, a formula caught his eye. Price was so captivated by the ideas in the essay that he dedicated the next two years of his life to exploring and developing them …
People are destined to suffer when communication from leadership is misdirected, unclear, or misunderstood. Consider a physician who left a written order for a nurse treating an earache: ‘Two drops, twice a day, r. ear.’ The nurse, reading the note, opened the medicine and then directed the patient to turn over, putting the eardrops in his rectum. The somewhat amusing anecdote is …
Let My People Go Surfing is part biography, part company memoir by Patagonia founder Yvon Chouinard. The first third of the book is an inspiring story about Yvon following his passion and finding his calling. The rest of the book shifts to a manual on designing business systems that align with nature’s grand design. Yvon created Patagonia to challenge conventional wisdom and introduce a new …
The Outsiders by William Thorndike Jr. is a master class in how to allocate capital. Thorndike profiles eight CEOs he calls “outsiders”. Why outsiders? Because they think and act differently from most other CEOs. These outsiders are Tom Murphy of Capital Cities, Henry Singleton of Teledyne, Bill Anders of General Dynamics, John Malone of TCI, Katharine Graham of The Washington Post …
The Cat Inside the Box Imagine a cat is placed inside a sealed box, and inside the box, there is also a bit of radioactive material, a Geiger counter (a device that detects radiation), a hammer and a small vial of poison. If the radioactive material emits radiation, the Geiger counter detects it and activates the hammer. The hammer then strikes the vial poison, breaking it and releasing the …
Josh Waitzkin the inspiration for the movie Searching for Bobby Fischer, is no stranger to creating change in his life. He won his first National Chess Championship at nine and later became a Tai Chi Push Hands champion. His life has been all about learning to adapt and excel. In his book “The Art of Learning,” Waitzkin shares lessons from his chess and Tai Chi mentors. This stuff …
Have you ever wondered why you reach for the chocolate bar instead of the apple, even when you know which one is healthier? System 1 operates automatically and quickly, with little or no effort and no sense of voluntary control. System 2 allocates attention to the effortful mental activities that demand it, including complex computations. The operations of System 2 are often associated with the …
Let’s talk about this amazing book, “Thinking in Systems” by Donella Meadows. It’s one of those rare gems that can change the way you see the world, no matter what you do for a living. The book is all about stepping back, looking at the big picture, and understanding how systems work before you try to change them. Donella Meadows, who wrote the book passed away in 2001. …
A decade back, I met this girl named Sana. We hit it off right away. Things were going great. But a few months in, Sana’s like, “So, what’s the deal? Are we going somewhere with this? I’m at a point in my life where I’m ready to settle down, get married.” But me? I hadn’t really thought about it. Getting married is one of those life changing irreversible …
Poor Charlie’s Almanack is a strange name for a book. It is actually a tip of the hat to Benjamin Franklin, one of Charlie Munger’s heroes. Back in the day, Franklin wrote this book called “Poor Richard’s Almanack.” It was full of all sorts of useful tidbits—weather forecasts, advice, you name it—and it was written under this quirky pseudonym, “Richard Saunders.” Franklin …
The personally revealing and complete biography of the man known everywhere as The Oracle of Omaha. The legendary Warren Buffet has never written a memoir, but he allowed Alice Schroeder access to explore directly with him and with those closest to him, his work, opinions, struggles, triumphs, follies, and wisdom. What did I get out of it? I have classified lessons into four buckets, as they …
Hans Christian Andersen’s classic tale “The Emperor’s New Clothes” is a story rich in wisdom about the dangers of vanity, pride, and the fear of appearing foolish. The story revolves around an emperor who cares more about his appearance and clothing than anything else. Two swindlers arrive at the city, claiming to be weavers who can create the most magnificent clothes, …
George S. Clason lays out guidelines on how to build wealth over a lifetime. These straightforward steps take incredible self-discipline and can have life-altering implications if followed. What did I get out of it? I discovered this book in 2018, a few months after becoming a father. At the time, I was in debt and had virtually no savings. Reading it was a turning point in my life. The …
Morgan Housel’s Psychology of money is about our relationship with money. What did I get out of it? Few lessons I took from the book: One of the most transformative lessons from the book revolves around our motivations for purchasing things. Housel argues that we often buy items with the belief that they will impress others and garner respect. However, when we examine this notion from our own …
Life is full of decisions, from the seemingly trivial to the monumental. Each choice we make, no matter how small, contributes to the overall structure of our lives. Recently, a simple game of Jenga with my son provided an insight into this concept. As we began the game, the tower stood tall and stable, a sturdy foundation of wooden blocks. We took turns carefully selecting and removing blocks, …
Costco operates with the lowest gross margins among major US retailers but boasts the highest returns on invested capital. This impressive profitability, coupled with operating margins similar to competitors, stems from Costco’s efficient operating and business model. The late Charlie Munger, a longtime Costco board member (from 1997 to his death in 2023) used to call Costco the perfect …
There is a story of a stalemate in Uber’s corporate history. This was a time when the company underwent a substantial shareholder reshuffle, marking a turning point in its trajectory. In August 2017, Dara Khosrowshahi, former CEO of Expedia, stepped into the role of Uber’s CEO. He took the reins from Travis Kalanick, the company’s co-founder, who had resigned under intense …
In another lifetime, a younger version of myself watched as my father, a man who had devoted the best years of his life to military service, faced a calamity that would redefine our future. His dream to transition from the disciplined life of an army officer to the uncertain world of entrepreneurship led him down a path filled with risk and ambition. Ignoring cautionary advice, he ventured into …
In the 1997 film “The Devil’s Advocate,” a memorable scene unfolds around a chess game between the two main characters, Kevin Lomax (played by Keanu Reeves) and John Milton (portrayed by Al Pacino). Lomax is a talented lawyer who has never lost a case, and Milton, his mysterious boss, is later revealed to be the Devil. The chess game represents more than just a clash of wits. It …
While listening to David Senra and Patrick O’Shaughnessy’s podcasts, I am struck by a recurring term: ’life’s work.’ This concept, a frequent topic in their dialogues, led me to explore historical figures who embodied this ideal. Among them, Abul Qasim Khalaf ibn al-Abbas Al-Zahrawi, known in the West as Albucasis, stands out. Living in the 10th century in Cordoba, …
For the past five years, I’ve been diligently investing in ETFs through dollar-cost averaging, much like I persistently try to improve my fitness levels, though with noticeably more financial sweat than physical. At the start of the year, despite getting battered through 2022 on equities, I had set a fairly ambitious dollar amount target for my investment portfolio. This goal was a part of …
In my quest to grasp the undercurrents of human behavior, I stumbled upon a realization that has altered my perspective: our actions are largely shaped by incentives, often overshadowing the black-and-white notions of right and wrong. This epiphany didn’t strike me in a moment of grand revelation; rather, it was a gradual awakening as I navigated the complexities of everyday life. My …
In the challenging economic landscape of post-World War II Japan, the Toyota Motor Corporation stood as a modest automotive manufacturer, grappling with inefficiencies and uncertainty – a reflection of the nation’s broader struggles. The transformational journey of Toyota began with an insightful realization by Eiji Toyoda. He envisioned a leaner, more efficient production system for …
Cricket has always been more than just a sport to me; it’s a cherished pastime that evokes fond childhood memories of playing with my dad and younger brother in our backyard. Despite my deep affection for the game, I must admit that my skills have always been squarely average. When playing indoor matches with friends, I would often find myself contributing modestly, never quite standing out …
The story of the Wright brothers, Orville and Wilbur, is a fascinating chapter in history that epitomizes the essence of focus and prioritization. In the early 20th century, these two brothers from Dayton, Ohio, embarked on a journey to achieve what many considered impossible - powered flight. Unlike many of their contemporaries who were also chasing this dream, the Wright brothers had limited …
In the heart of Renaissance Italy, a story unfolded that encapsulates the essence of human endeavor and the pursuit of perfection. In the early 1500s, renowned artist Michelangelo was commissioned to create a series of 12 apostles for the Cathedral of Florence. His work on the first statue, Saint Matthew, began with fervor and promise. Michelangelo, known for his meticulous attention to detail …
The story of Cinderella, a familiar fixture on children’s bookshelves, starkly divides the world into good and evil, beauty and ugliness, the oppressed and their oppressors. Cinderella herself, portrayed as both stunningly beautiful and exceptionally kind, stands in sharp contrast to the difficult life she leads. Her character transcends mere fiction, becoming a symbol of virtue and …
In the late 1800s, Alfred Nobel, a Swedish inventor and industrialist, experienced a profound and unusual wake-up call. Nobel, who had amassed a fortune from his invention of dynamite, faced a unique turn of events when his brother Ludvig died in 1888. Due to a mix-up, a French newspaper mistakenly published Alfred’s obituary instead of Ludvig’s. The obituary was scathing and …
In 1914, Ernest Shackleton embarked on an Antarctic expedition, a journey that soon turned into a fight for survival. His ship, Endurance, became trapped and eventually crushed by ice. Shackleton’s leadership in the face of real, life-threatening challenges was remarkable. He focused on tangible problems, like rationing food and keeping morale high, rather than succumbing to fear or …
In life, our every decision—whether made with deliberate intent or left to chance—acts as a catalyst that shapes our destiny. Ted Chiang’s story, “Anxiety Is the Dizziness of Freedom,” introduces us to the prism: a conduit to the varying paths unfolded by our choices. This fictional device is far more than a mere plot element; it serves as reflection of the countless trajectories our …
In the late 1990s, Long-Term Capital Management (LTCM), a hedge fund managed by a constellation of financial wizards including Nobel laureates Myron Scholes and Robert Merton, epitomized the pinnacle of financial acumen and innovation. The fund, armed with sophisticated mathematical models, promised to outsmart the market, leveraging complex strategies to yield unprecedented profits. Initially, …
In Herodotus’s “Histories” Book VIII we find the tale of Greek general Themistocles. Outnumbered and facing a formidable Persian navy at the Battle of Salamis, Themistocles didn’t rely on a grand, heroic act to claim victory. Instead, he won by carefully avoiding mistakes and luring the Persians into a well-orchestrated trap. This disciplined approach echoes down the ages, …
Not long ago, my family and I took a short vacation at a beach resort. While my wife enjoyed some spa time, my son Hamza and I decided to build a sandcastle. After about an hour, we had constructed something we were proud of. However, when Hamza asked if our creation would last forever and I explained that nature would eventually reclaim it, he threw a fit. This reaction didn’t surprise me; …
In 2008, the global financial landscape was rocked by an event that sent tremors across markets and households alike. At the epicenter of this financial earthquake was Lehman Brothers, a titan in the investment banking world that had stood for over 150 years. Its sudden fall from grace and ultimate bankruptcy was a wake-up call that reverberated through every corner of the financial universe. …
You might not have heard of Eugene Cernan, but you’ve likely heard of Neil Armstrong. Armstrong was the first person to walk on the moon; Cernan was the last (to date). Armstrong’s name is immortalized, but it’s Cernan who holds an extraordinary record. He flew into space three times—each mission more challenging than the last—and his career spanned more than a decade. Armstrong’s …
In the late 1970s, a young cricketer named Allan Border was called up to the Australian national team. The team was in shambles; they were losing badly, and morale was low. Allan Border wasn’t a prodigy, but he had something just as important: consistency. He steadily improved his game, not through spectacular shots but through meticulous attention to technique and strategy. By the …
In ancient Greece, there was a man named Diogenes who lived in a barrel. While others sought wealth and status, he chose a life of simplicity and independence. One sunny day, Alexander the Great, intrigued by the philosopher, visited him. “Ask anything of me,” said the great conqueror. Diogenes looked up and replied, “Move out of my sunlight.” The point here is that …
Just a few centuries ago, life was a wild card. Your village could be invaded by armed swordsmen, and you’re enslaved by force, no questions asked. There is no recourse, no police and no law to give you protection. Picture being a woman in those times, where being taken as a war bride was a grim reality. Or consider, being forcefully “recruited” to fight in a war, stripped away …
In ancient Rome, Marcus Aurelius, was known for his wisdom, integrity, and fairness. Even when he was fighting wars or managing the empire, people respected him because he treated everyone justly and upheld his moral principles. His reputation was so powerful that it has survived for nearly two millennia, studied and revered to this day. Our reputation is like Marcus Aurelius’ legacy; …
I remember my first-time playing pool back in 2011. I was in a remote part of southern Punjab on an audit assignment. My skills were questionable, they still are, but I quickly grasped the game’s basics: use a stick to hit the white cue ball, which in turn knocks colored or striped balls into pockets. Simple, right? But it got me thinking: What really causes those balls to go into the …
We all face decisions, big and small, every day. From deciding what to eat for breakfast to contemplating career moves, choices are a constant. Yet, how often do we pause to consider what happens after we make a decision? Here’s a simple yet powerful method I use to make better choices: I ask myself, “How much can I shape the outcome after I make this choice?” Imagine standing …
In the 18th century, Paris was a crucible of Enlightenment ideas. Among the era’s most influential thinkers was Denis Diderot, best known for his contributions to the Encyclopedia. Despite his intellectual prowess, Diderot wasn’t financially well-off—until, that is, he sold his library and found himself unexpectedly flush with cash. This newfound wealth led him to purchase a luxurious …
While you’re in the thick of your work, set your sights high. The goals you set for yourself often serve as a self-fulfilling prophecy; you’re unlikely to outperform your own expectations. So, aim high to motivate yourself to stretch your abilities and achieve your full potential. After you’ve completed the work, it’s crucial to shift your mindset. Let go of those lofty …
In the early 20th century, a German teacher and horse trainer named Wilhelm Von Osten was convinced that animals could be taught to read and perform arithmetic. While dogs and bears failed to live up to his expectations, a horse named Clever Hans captured the world’s imagination. With a 90% accuracy rate, Hans would tap his hoof to answer mathematical questions. Scientists and laypeople …
Imagine you’re chained in a dark cave, facing a bare wall, unable to turn your head. A fire crackles behind you, casting shadows of various objects that puppeteers hold up on a raised walkway between you and the fire. This is your reality, shared with other captives. You discuss the shapes of the shadows, make guesses about what they represent, and even give them names. You and your fellow …
“Please review and check your work before submitting it. Do not rely solely on your Excel formulas and make careless mistakes.” These words, direct and pointed, lingered long after I received them. I grappled with their implication. Was this feedback an indirect way of labeling me ‘stupid’? Was it an overarching critique of my capabilities or just a comment on that …
“Recall the fable of the crow and the pitcher? A thirsty crow discovers a pitcher with water at the bottom, but it’s too deep to reach. Ingeniously, the crow drops pebbles into the pitcher until the water level rises. This age-old tale underscores the merits of critical thinking. Yet, it begs the question: How many of us would genuinely solve a problem, and how many would resort to …
The life journey of Alister Urquhart, as depicted in “The Forgotten Highlander,” is a testament to human resilience. At the tender age of 19, Alister Urquhart was conscripted into the British Army during World War II and dispatched to Singapore. However, fate took a turn when the Japanese forces invaded, capturing him. For 750 grueling days, Urquhart labored as a slave in the jungles, …
In the early 20th century, amidst the geopolitical tensions of Central America, the corporate rivalry termed the “Banana Wars” unfolded, predominantly between the behemoth United Fruit Company and the smaller, agile Cuyamel Fruit Company, led by Sam Zemurray. Central to their contention was a 5,000-acre tract of land, both deemed invaluable. United Fruit, upon discovering that this …
A mundane drive on Sheikh Zayed Road took an unexpected turn one evening. As traffic ahead halted suddenly, I found myself stopped behind a cab, hazard lights flashing urgently. An SUV, oblivious to the change, barreled toward me at high speed. Hemmed in by moving traffic to my side, a helpless glance in the rear-view mirror was all I had before the jolting impact. This event, though alarming, …
Reflecting on my early days in public accounting in Pakistan, our audit assignments stretched from four to eight weeks. Given the readily available and affordable audit associates, our teams typically ranged from 4 to 8 members. Fast forward to my tenure at PwC in the Middle East, where the expectation shifted dramatically. Here, we aimed to complete audits in just one to two weeks, often with a …
During the British colonial period in India, Delhi faced a pressing issue: an overwhelming number of venomous cobras. To curb this threat, the British officials introduced a seemingly straightforward solution — offer a bounty for every dead cobra, aiming to mobilize the locals into reducing the snake population. But, as with many policies, there were unintended side effects. Some entrepreneurial …
Discover the power of consistent investing and the path to financial independence. In today’s fast-paced world, building wealth isn’t just about earning more; it’s about investing wisely. But how can one invest without large sums of money? And how can you ensure your hard-earned money grows over time? We’ll uncover the strategy that has helped countless individuals achieve …
Late one night, surrounded by the quiet of midnight, I was meticulously finalizing a presentation for the Board. To me, each slide was more than just a task; it served as a testament to my dedication and skill. Filled with anticipation, I sent it to my boss, hoping it would be met with the same enthusiasm with which I had crafted it. However, the break of dawn brought an unexpected turn. Rather …
If you’ve ever done someone a favor—be it a colleague, a friend, or anyone else—like lending money in a tight spot or using a connection to help them get a job, here’s a piece of advice: Don’t mention it again. Avoid bringing it up in conversations or hinting that they owe you. While your genuine assistance can strengthen your relationship, constantly referencing it can do the …
In the heart of an ethereal land, Alice, a curious adventurer from Lewis Carroll’s “Through the Looking Glass,” raced alongside the Red Queen. As they ran, she was struck by an unsettling truth. Despite the fervor of their sprint, the surrounding environment remained eerily stagnant. “Now, here, you see,” remarked the Red Queen, “it takes all the running you …
A few months ago, my five-year old son (Hamza) got into board games. We started from Uno, moved on to Snakes and Ladders, until he came across Monopoly. But given that he is too young to understand the intricacies of monopoly, I decided to give him a head start by more than doubling his starting money. This got me thinking, the game became an illustration of a question posed by the Gambler’s …
It’s said that life, in its vast complexity, can sometimes be distilled down to fundamental principles. And to think, one of the realizations stemmed from a chemistry concept I once loathed: alloying. Alloying is, at its heart, an emergence. It’s the process by which combining distinct elements results in an outcome greater than their individual sum. During high school, I barely …
In 2015, my entire trading account and a significant part of my measly net worth was wiped out due to a series of misguided options trades. The lure of overnight riches had me speculating on the markets via options. This failure led me to swear off options entirely, attributing my losses to speculative and riskiness of options. However, during my CFA studies, my perspective changed. I discerned …
Imagine you’re at a carnival, enjoying the lights and sounds, when you come across a coin-toss game. The excitement is palpable. You’re told that if the coin lands on heads, you’ll double your bet, but if it lands on tails, you’ll lose everything. The 50% chance of doubling your money is a siren’s call. But as you play, you realize the trick: a single loss means …
Have you ever found yourself faced with a problem so intricate and vast that it triggers anxiety, not because you lack the capacity to solve it, but because the available data seems to render it insurmountable? This sensation frequently emerges when we attempt to reason by analogy. The practice of solving a problem by analogy involves recalling a similar situation we’ve encountered, drawing …
Have you ever found yourself trapped in a decision, unable to let go, even when you knew it wasn’t working out? This is known as the sunk cost fallacy, a cognitive bias that influences our decisions based on past losses rather than potential future gains. Understanding this phenomenon and how it plays out in our lives can be crucial in making rational decisions. Today, I’ll share a …
Every individual embarks on a unique journey through life, a voyage that can sometimes seem directionless. A personal mission statement serves as a compass for this journey, pointing consistently towards one’s true north. In this post, I will share my voyage through the depths of self-reflection, as I navigated towards creating my own personal mission statement. The Starting Point As part …
I’ve always found solace in the written word, using it as a tool to record, reflect, and drive personal growth. To hold myself accountable to my goals, I decided to create this public journal, a space where I share my experiences and the insights gleaned along the way. Recently, I embarked on a new coaching program to break free from the inertia of my mid-level management career. …
Back from vacation and I spent the past two hours sifting through my email and clearing the inbox. I have this OCD of keeping my inbox (both personal and work) at 0 unread. The emails which are expected to take longer to go through, process / be replied to are opened in a new window (I use Outlook desktop app for all my emails) and are kept open until I have been through them. After getting to …
I’m a fan of harsh truths. Someone recently linked me to this post on harsh truths from 2012 that went mega-viral back in the day. It’s quite good, though I’d argue that several on the list are all really one single harsh truth (that you have to create something of value to be valued). The few that struck a chord (with a few thoughts from me in italics): The world only cares …
There is a concept called Character Invention that many of the most prominent executive coaches teach to their clients. The general idea is pretty simple: We all have a level of fear and imposter syndrome associated with performing certain acts. Depending on your situation, you might feel it around public speaking, performing a musical act in front of a crowd, hitting the gym hard, or being the …
Where you focus can hold you back. Focusing on the outcome makes the gap between now and the finish line seem larger than it is. Yesterday I wanted to go for a long run. That little voice in my head said “Imagine running for 90 minutes. Dude, you didn’t sleep well, and that’s a lot of effort. Let’s save our energy and check Twitter instead.” Taking the first step …
“The problem isn’t that you’re too busy. You are too busy, but that’s not the problem. If you view being busy as the problem, there is no solution. You will always be too busy, and that will never change. As Andy Grove once noted: “A manager’s work is never done. There is always more to be done, more that should be done, always more than can be done.” The …
IKEA founder Ingvar Kamprad on simplicity: “There have to be rules to enable a lot of people to function together in a community or a company. But the more complicated the rules are, the harder they are to comply with. Complicated rules paralyse! Historical baggage, fear and unwillingness to take responsibility are the breeding ground for bureaucracy. Indecisiveness generates more …
When you see someone doing something that doesn’t make sense to you, ask yourself what the world would have to look like to you for those actions to make sense.
The person who carefully designs their daily routine goes further than the person that negotiates with themselves every day. The most successful people I know follow a routine to ensure the most important projects get the time they need. A successful and busy acquaintance decided to write a book not long ago. I asked him how he planned to do that given all of his responsibilities at home and the …
The irony is that this ‘fake it till you make it’ tactic is the exact opposite of how truly successful people live. They live with authentic vulnerability because they know that the world always connects more with your grit than your shine. They might show up for the shine, but they will stay because of your grit. Joshua Medcalf on grit
The greatest threat to results are boredom and impatience. The only way to become good at something is to practice the ordinary basics for an uncommon length of time. Most people get bored. They want excitement. They want something to talk about and no one talks about the boring basics. For example, we know that dollar-cost averaging into an index fund is likely to generate wealth, but …
There is a rule that has helped me put failures and victories into their proper perspectives. The 24-hour rule states that you turn the page every day. No matter what. You can celebrate or cry but tomorrow you turn the page. Tomorrow is a new day. We all know the person at the office that hangs on to the past. They remind of us of the project they worked on 10 years ago that was a success. Or they …
Linear games are won by working harder than others. And the harder other people work, the higher the bar. You need to work harder and harder, just to stay in the same relative position. Asymmetry is different. Even people who understand asymmetry consistently underestimate its power. Positive asymmetry happens when you have a lot of upside and little downside. Negative asymmetry is when you have …
One of the most practical life skills that no one talks about is turning discipline into consistency. Discipline will only take you so far. It’s hard to be consistently disciplined. Relying on discipline to do what you know you should do requires a lot of effort. But what if you could take that discipline and turn it into something that happens without much effort? Consider a twelve-year-old who …
If small changes create big results, then why is success so elusive? The answer boils down to a single word: discipline. Not many people have consistent discipline when times are good. Even fewer in times of stress. Anyone can do something once. Not everyone can do it consistently. Eating healthy for a meal is common. Eating healthy all week is not. Working out occasionally is common. Working out …
There are two types of stability: passive and active. Most people don’t understand the difference until it’s too late. Passive stability requires no intervention. A ship in the ocean is passively stable. The captain can take a nap and the power can go out and the ship will still ride out the storm. Active stability is different. Active stability requires constant intervention. A modern jet is …
“Every battle is won before it’s ever fought.” — Sun Tzu While most of us would never choose to play life on hard mode, that’s exactly what we do when we put ourselves in a bad position. One way to visualize this is through the lens of billiards. We become so focused on making the first shot that we fail to consider how we position the ball for the next shot. When we go to take the next …
Environment is the hidden force that guides behavior. One reason it’s so effective is that it speaks to your subconscious mind and not your conscious mind. Default behaviors love the path of least resistance. Not only does our environment choose that path but it pushes us in that direction. Most of the time when we think of ’environment’ we think only of our visible environment. …
Any energy that goes into what doesn’t matter comes at the expense of what does. With a little extra time, you can raise the standard from good enough to great. Narrow the focus. Raise the standard and set yourself apart.
Seneca once said, quoting Fabius, that the only inexcusable thing for a commander to say was, “I did not think that could happen.” And of course, he is right: The job of the leader is to be prepared, to have a plan, to anticipate all possible and probable outcomes. Whether it’s a military campaign, a creative project, or a business negotiation. This is why the Stoics practiced premeditatio …
“It is impossible for a man to learn what he thinks he already knows.” — Epictetus Humility is the anecdote to arrogance. Humility is a recognition that we don’t know, that we were wrong, that we’re not better than anyone else. Humility is simple to understand but hard to practice. Humility isn’t a lack of confidence but an earned confidence. The confidence to say that you might not be right, but …
We tend to think that what we think is true. And because we think something is true, we ignore information that might tell us it’s not true. Charles Darwin deliberately looked for thoughts that disagreed with his own. He wrote, “whenever a published fact, a new observation or thought came across me, which was opposed to my general results, to make a memorandum of it without fail and at once; for I …
There is nothing that gets in the way of success more than avoidance. We avoid hard conversations. We avoid certain people. We avoid hard decisions. We avoid evidence that contradicts what we think. We avoid starting a project until we’re certain of the outcome. To justify our avoidance, we lie to ourselves. We tell ourselves that we’re noble — we don’t want to hurt someone’s feelings. We …
Mandelbrot