Capital Allocators
Ted Seides
Summary
Collection of advice for investors and people who manage money from guests on the Capital Allocators podcast
Rating: 3/5
Notes
Active investing now has a problem of paradox of skill
Good interviewers define the purpose, prepare, set the stage, listen actively and receive feedback
Outline a framework and a few good questions but listen and follow-up with good questions to what they’ve said
Find a good comfortable setting, find common ground, ask simple brief questions
Let people talk
Express humility
Lose the script
Be careful of confirmation bias
We are hard wired to make bad decision
Argue as if you’re right, listen as if you’re wrong and be willing to change your mind
Think in probabilities
Negotiation is learning
When going into a negotiation, prepare by understanding what you want and what they want
View the negotiation as a process of discovery instead of battle
Mirror, validate their concerns, empathize and be curious
Learn to walk away
Principles to lead people
- Define a vision
- Set standards of conduct
- Communicate consistently and frequently
- Behave authentically
- Inspire and motivate
- Adapt and evolve
A team follows a leaders actions more than his words
Perfection is not attainable but if we chase it, we might just catch excellence - vince lombardi
Command the room, command the message, command the process and command yourself
To unleash your greatness, surround yourself with greatness
Look for smarts, good communication, team player, integrity and experience when hiring
Assign accountability to individuals
Key with governance is clear definition of roles and responsibilities
Gold outreach does not work to get large institutional money
CIOs are happy to pay high fees for high performance
Crisis moments cause great leaders to check their ego and retest their assumptions before acting
Rising prices attract buyers and falling prices attract sellers
Buy when there’s blood in the streets, even when the blood is your own
When things go bad, they can get much worse than you expect. Things happen that don’t make sense
Everything in finance will be discovered and arbitraged away, except human judgment
The answer will come to you, there’s no need to chase it
Take the less obvious path when it feels right to you
Failure is not only an option but a necessity in life
What we know sits in the head of a pin. What we don’t is the size of the universe - Annie Duke
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Make Something Wonderful
Steve Jobs
Summary
The life of Steve Jobs in his own words
Rating: 5/5
Notes
Make something wonderful and put it out there
‘You appear, have a chance to blaze in the sky, then you disappear’
When you’re a stranger in a place, you notice thing you don’t otherwise (Jobs after India trip)
Whenever you start with nothing, always shoot for the moon. You have nothing to lose.
You never achieve what you want without falling on your face a few times
Never be afraid to fail. You never achieve what you want without falling flat on your face a few times
We are never taught to listen to our intuitions, to develop and nurture them. But if you do pay attention to these subtle insights, you can make them come true
Creativity equals connecting previously unrelated experiences and insights others don’t see
Believe that some of what you follow with your heart will come back and make your life richer. And it will. And you will gain even firmer trust on your instincts and intuitions
Make your avocation your vocation. Make what you love your work.
The journey is the reward. The reward isn’t in the pot of gold at the end of the rainbow, it’s in crossing the rainbow
To find A+ talent, if experienced, look at their track record and results
The world we know is a human creation and we can push it forward
The people who are crazy enough to think they can change the world are the ones who do (read whole ad ‘here’s to the crazy ones)
We are what we repeatedly do. Excellence then is not an act but a habit - Aristotle
Hire people better than you are
You can’t plan to meet the people who will change your life
It’s impossible to connect the dots looking forward, but they make sense looking backwards so you have to trust the dots will somehow connect in your future
Everything around you that you call life was made up by people no smarter than you
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