I have started reading “THE LITTLE BOOK of MARKET WIZARDS - Lessons from the Greatest Traders” by Jack D. Schwager: “One of the surprises I found in doing the Market Wizards books was how many of these spectacularly successful traders started with failure. Stories of wipeouts, or even multiple wipeouts, we’re not uncommon.”

I have started reading “LESSONS FROM THE TITANS - WHAT COMPANIES IN THE NEW ECONOMY CAN LEARN FROM THE GREAT INDUSTRIAL GIANTS TO DRIVE SUSTAINABLE SUCCESS” by Scott Davis, Carter Copeland, and Rob Wertheimer: “In the stock market, investors have spent much of the last decade bidding up technology giants to levels that make sense only if these firms face limited competition and amazing profitability for decades.”

I have started reading “SUPER-FORECASTING - THE ART & SCIENCE OF PREDICTION” by Philip Tetlock and Dan Gardner: “We are all forecasters.”

I have started reading “Exponential - How Accelerating Technology Is Leaving Us Behind and What to Do About It” by Azeem Azhar: “The argument of this book is that we are indeed living through a time of unusually fast change - and this change is being brought about by sudden technological advances… they are developing at an exponential pace, getting faster and faster with each passing month.”

I have started reading “NOISE - A Flaw in Human Judgment” by Daniel Kahneman, Olivier Sibony, Cass R. Sunstein: “Some judgments are biased; they are systematically off target. Other judgments are noisy; as people who are expected to agree end up at very different points around the target. Many organizations, unfortunately are afflicted by both bias and noise.”

I have started reading “SKIN IN THE GAME - Hidden Asymmetries in Daily Life” by Nassim Nicholas Taleb: Three flaws “They can’t get the idea that, empirically, complex systems do not have obvious one-dimensional cause-and-effect mechanisms, and that under opacity, you do not mess with such a system.”

I have started reading “Numbers Don’t Lie - 71 Things You Need to Know About the World” by Vaclav Smil: “What does the future hold for countries whose fertility has fallen below the replacement level?... Once they slip below 1.5 such reversal appears increasingly unlikely... Gradual population decline seems to be the future of Japan and of many European countries.”

I have started reading “ALWAYS DAY ONE - HOW THE TECH TITANS STAY ON TOP” by Alex Kantrowitz: “Zuckerberg has built feedback into Facebook’s very fiber. Major meetings end with requests for it. Posters around Facebook’s offices say FEEDBACK IS A GIFT. And nobody in the company is above it, not even Zuckerberg himself.”

I have started reading “QUALITY INVESTING - OWNING THE BEST COMPANIES FOR THE LONG TERM” by Lawrence A. Cunningham, Torkell T. Eide & Patrick Hargreaves “Quality is never an accident; it is always the result of intelligent effort.” —John Ruskin

I have started reading “Brain Food - How to Eat Smart and Sharpen Your Mind, The neuroscience behind the foods that will improve your mental fitness” by Dr Lisa Mosconi, Associate Director, Weill Cornell Alzheimer’s Prevention Clinic ABOUT THE AUTHOR

I have started reading “WHAT YOU DO IS WHO YOU ARE - HOW TO CREATE YOUR BUSINESS CULTURE” by Ben Horowitz “Identifying the culture you want is hard: you have to figure out not only where your company is trying to go, but the road it should take to get there... Culture is not like a mission statement; you can’t just set it up and have it last forever... The target is always moving.”

I have started reading “Alchemy - The Surprising Power of Ideas That Don’t Make Sense” by Rory Sutherland RORY’S RULES OF ALCHEMY:

I have started reading “The Man Who Solved The Market - How Jim Simons Launched The Quant Revolution” by Gregory Zuckerman “Early on, Simons made a decision to dig through mountains of data, employ advanced mathematics, and develop cutting-edge computer models, while others were still relying on intuition, instinct, and old-fashioned research for their own predictions.”

I have started reading “Lifespan - Why We Age - and Why We Don’t Have To” by David A. Sinclair, PhD, with Matthew D. LaPlante “I have come to see aging as a disease - the most common disease - one that not only can but should be aggressively treated.”

Yesterday’s @jposhaughnessy thread on investment strategy made me think about my own strategy: 1) value investing at its core is buying a stock when it becomes cheap and selling it when it becomes dear; 2) I am not comfortable with valuing most stocks; 3) valuation depends on the the future of a business and the future is always uncertain; 4) even the idea of “margin of safety” is too theoretical imo: in a world that keeps changing very fast your margin of safety might evaporate even faster;

A meaningful outperformance for $BRK during 2018 in both BVPS and per-share market value. Imo $BRK today is like an index which probably will keep outperforming the S&P500 by 2-3% annually. Other such indexes might be $QQQ, $VIOO, and $IBB. Use a value averaging strategy with those 4 instruments: