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The ones that have a business model your grandad would understand. His heuristic is somewhat naive, but he's made a lot of money by betting against the paradigm
by nikanj 9y ago
The ones that have a business model your grandad would understand. His heuristic is somewhat naive, but he's made a lot of money by betting against the paradigm shifts and capitalistic innovations.
He's basically applying systems theories to companies, and knows that the more complex a system is, the more possible failure states it has.
- melling 9y agoI’m looking for a heuristic. He’ll be staying in his “Circle or Competence”, great company, evaluating companies for their “margin of safety”? He’s only looking at a handful of numbers to determine a good buy. We really should try to learn from this market movement. Warren Buffett and Charlie Munger offer decades of knowledge and wisdom.