Li Lu’s Foreword to Poor Charlie’s Almanack

First, the series on Valuation will fire back up shortly: I ended up going to NYC for 5 days last week and the wheels fell off the study wagon… meaning I fell rapidly behind on my actual homework in the Valuation course so I’ve been frantically trying to catch up, thus no update since the last post on the Risk Free Rate. I came across this English translation of the foreword to the Chinese version of Poor Charlie’s Almanack by Li Lu. You can find it on this link through the internet archives, but I thought I’d post it here in case it ends up disappearing. Everything below is a copy and paste from the original article. Enjoy!

Continue reading

Inverting Chains of Habit

There’s a quip that Warren Buffett likes to throw around frequently which goes along the lines of:

The chains of habit are too light to be felt until they are too heavy to be broken.

What’s the first impression you got after reading that? That’s right: a negative impression. You most likely thought of the negative consequences of habit. Things like hookers, blow, needles, hooch, etc.

While it’s advisable to avoid these things in life, there is a whole other side of the equation of that nugget of wisdom that takes a little more effort to ferret out.

Continue reading

The Problem with Atheist Vegans: Or the Problem with Ideology

Well, apparently writing about philosophy has me thinking even more about philosophy. It got me thinking of a problem a friend of mine has with me: why I always seem to be sitting on the fence in terms of issues. In this specific case with this friend, why I can’t seem to come out on a concrete position on atheism and veganism.

Continue reading