I thought I was crazy until I found Richard Feynman.

Feynman was not only among the most brilliant people on earth, but he transmitted something I've never seen in others.

Thread with some lessons from his peculiar way of being: While reading and thinking, there were moments when I felt I was having actual fun.

But I doubted myself: "How could I be having fun doing this? Maybe I don't understand fun."

It was not until I saw the joy Feynman transmitted that I understood this profound emotion.

There is an incredibly peculiar idea that I've seen everywhere:
Attractor States.

It's in economics, biology, physics, statistics.

Long thread breaking it down: The first time this idea hit me from an unexpected place was in physics.

If you leave a system by itself, it will tend towards the state of minimum energy and maximum entropy.

In a bowl, balls sink to the middle.

I always felt academia was wrong, but couldn't see how.
Then I read this book.

Charlie Munger found the correct approach to knowledge:
Worldly Wisdom.

Thread breaking down this unpopular but right idea: This is a dangerous approach to acquiring wisdom.

Your friends will say you are wasting your time, others will call you crazy, and professionals will despise you for getting into their territory.

To them, Charlie's message:

Lee Kuan Yew was the most extraordinary nation-builder in history.

He turned "a malarial swamp into a modern civilized powerhouse"

This is the full story of how LKY took Singapore from third world to first: Lee Kuan Yew's genius was in systematically picking the correct system for fixing huge societal issues.

Singapore's GDP per capita increased from $500 in 1965 to $83,000 in 2023.

We'll go over how he laid the foundations for such a crazy outcome, starting at the beginning.

Guns, Germs, and Steel is Sapiens^2.

While Sapiens goes for the 'What', Guns, Germs, and Steel answers the much more tougher question: 'Why?'

Full breakdown: Jared Diamond went to New Guinea in the 70s to study birds.

One day, he was walking along a beach and Yali, a local politician, happened to be there.

They decided to walk together and Yali started quizzing Jared..

The most complex systems are rooted in deep simplicity.

This pattern is seen across physics, biology, and chemistry.

Thread breaking down this astounding book and idea: After religion started losing the spot as the main explanatory agent, science hopped on a peculiar path.

Information was stored more rigorously and, suddenly, we were in a huge mess.

There was isolated knowledge everywhere.
True chaos.

This book has incredibly profound insights.

Thread with some extracts that could change your life: When all paths go somewhere, there may be something there.

Learning accounting is incredibly troublesome.

No course teaches it well and 99% of books miss the point.

Long thread on why this short book will finally help you understand accounting: The first test most sources fail is in admitting the limitations of accounting.

It is not a science and shouldn't be treated as such.

Joe and Karen straight up recognize this, benefiting all readers.

Warren Buffett's letters are the best source to learn about investing.

Here are some examples showing why:

1. The myth of value vs growth investing. 2. How an industry may lose attractiveness.

In 1989, Buffett shared the mistakes he had made over the 25 previous years.

Here they are: 1. Buying Berkshire.

Guns, Germs, and Steel is the most insightful history book I've read.

Here are some takeaways: The question that motivated Jared to write the book.

I'm finding unbelievable joy in Richard Feynman's book.

Here are some anecdotes and lessons from a brilliantly curious mind: "The prize is the pleasure of finding the thing out."

Nick Sleep is the most brilliant investor whose letters I've read.

Here are some of his incredible insights, shared in 2009: He quotes Darwin, who went against his peers and religious beliefs in pursuit of the truth.

"we recognize a few simple truths and we are conscious that our views, in the eyes of our peers, may not be very popular." Nick

I have read over 200 shareholder letters and research articles about investing.

Here are the ones that taught me the most: In this letter, Warren goes over his management philosophy and how his thinking process evolved, alongside some commentary on certain investments.

Warren Buffett, January 1965

Investing in the Unknown and Unknowable is the most profound essay I've read on investing.

It took me 4 months to put its thesis together. Let's go over it: "The essence of effective investment is to select assets that will fare well when future states of the world become known"

Finance theory has been trying to develop frameworks to better approach investing.

Clayton Christensen is the best business thinker I've come across.

Many of his ideas changed my view about investing. Let's go over some of them: 1. The Innovator's Dilemma

Business success is incredibly difficult to sustain.

Companies have the option of investing in different types of technologies. And it is consistently choosing those with the highest returns on capital what causes them to fail.

Jeff Bezos letters are an authentic textbook for business managers.

Here are the extract that most fascinated me: Long-term thinking is fundamental for creating large franchises.

1997 Letter.

The Outsiders is the best book I have read on business management.

Here are some extracts that reveal the rarity of these people's approach: Henry Singleton's curious approach to time allocation.

Henry Singleton founded and ran Teledyne for 31 years.

From 1963-1991, the company achieved a 20.4% CAGR. Let's see how he did it: During the 1960s, conglomerates were starting to emerge.

However, they were all ran the same way: centralized approach, diversification and promotion of "synergies".

Henry's approach was radically different, taking a completely decentralized route to management.

Mark Leonard is the most peculiar businessman I have ever read.

Some extracts from his letters showing why: He literally notifies investors what should worry them if it were to happen.

Q1 2007

After managing Giverny Capital for 20 years, François Rochon shared "the top things I learned since 1993": 10. Investing in the stock market is not a game.

The stock market is about ownership in businesses.

"Those who approach it as if it were a casino end up with the results of a gambler"