“There’s a rule they don’t teach you at the Harvard Business School. It is, if anything is worth doing, it’s worth doing to excess.” – Edwin Land
“The risk from having some over-conservatism is just about zero” – Charlie Munger
Because anything worth doing is worth doing because nobody has done it before.
Accelerate what matters.
Related:
- 3-1c3c4.1 It’s easy to push a really good idea to wretched excess
- 5-1b1b2b Don’t try to be the best. Be the only.
- 5-1b3a In particular, we underestimate how much we can change in the future during and after downturns. Things change.
- 13-1a3.0a Always go for the best—work on the best project, work in the best industry, work with the best people
- RUL3 - Create something, or become someone, that is hard to duplicate (‘Barriers to entry’)
- Also, sometimes you just have to do it yourself (a) because linguistic expression cannot convey the whole experience, and (b) because you have to pick one thing over others (inspired when comparing shortcuts while climbing Strudelkopf)develop
- 1-1a2a4 The flexibility of humans are found particularly in the tacit knowledge
- 2-1a3 ‘Seeing the front’ - Incorporate what can’t be explicated
- 2-1c1 ‘Comparative advantage’ - If others can do it, let them
- 13-1a Humans have problems because we have to choose because we could be otherwise because of the multiverse
E.g.,
- Democratizing investment research by sharing knowledge (e.g., Substack) → Market becomes price discovery engine
”Do the little things well that the machines cannot” – Porter Collins
Value investor edge lies in old-school methods machines cannot automate: company visits, store checks, product checks, and common sense questioning
Related: