I came across it through Nick Magiulli's newsletter...He linked to your piece as "What He's Been Reading" ... Will be joining your newsletter as well... Perusing your work, I really like your focus on balancing our pursuit of wealth, wisdom, and meaning!
Wait, but what if we all apply this formula, if all of us pursue wealth, what will happen to the platform we are living on? Shouldn’t we not see it as a platform but as what it is: a planet with scarce resources that has limits that are incompatible with endless compounding of material wealth? How can wealth compound since the planet resources don’t compound but they are de compounding ?
And isn’t all this wealth US is generating (expressed in RE and stocks) coming mostly because of the USD being the reserve currency of the world extracting wealth from the other nations by exporting inflation? We all know that inflation is a hidden tax on the poor at the national level (wages barely keep up with inflation while assets prices inflate by increased profits and multiples), but what is it at the global level?
And hasn’t too much wealth lead weaker generations in all past empires, and ended up in people not hungry enough preserve that they had which lead to collapse?
Thanks for such a beautiful way of putting forth supposedly complex fundmentals of life.I would now like to know more about Ed Thorp.Let me explore his books. Thanks
Loved it, thanks for writing! Never heard of Ed Thorp before but after reading this I think I'll check out his book.
I came across it through Nick Magiulli's newsletter...He linked to your piece as "What He's Been Reading" ... Will be joining your newsletter as well... Perusing your work, I really like your focus on balancing our pursuit of wealth, wisdom, and meaning!
Thank you for the wisdom! Housel, Graham, Thorp, Buffet, Senra, Naval...ingredients from all of these people make for a wonderful recipe!
Wait, but what if we all apply this formula, if all of us pursue wealth, what will happen to the platform we are living on? Shouldn’t we not see it as a platform but as what it is: a planet with scarce resources that has limits that are incompatible with endless compounding of material wealth? How can wealth compound since the planet resources don’t compound but they are de compounding ?
And isn’t all this wealth US is generating (expressed in RE and stocks) coming mostly because of the USD being the reserve currency of the world extracting wealth from the other nations by exporting inflation? We all know that inflation is a hidden tax on the poor at the national level (wages barely keep up with inflation while assets prices inflate by increased profits and multiples), but what is it at the global level?
And hasn’t too much wealth lead weaker generations in all past empires, and ended up in people not hungry enough preserve that they had which lead to collapse?
Thanks for such a beautiful way of putting forth supposedly complex fundmentals of life.I would now like to know more about Ed Thorp.Let me explore his books. Thanks