Investors spend a great deal of time thinking, writing and talking about the fair or intrinsic value of equities, whether it be an entire market or individual company. This is a critical issue. There is probably no greater determinant of the long-run returns we make than the price that we pay. The obvious challenge is…

“Time perception matters because it is the experience of time that roots us in our mental reality.” More here – brainpickings

Commencement season is just around the corner. Whether in person or over a live-stream, graduates and their families will follow the long-honored tradition of listening to speeches studded with unoriginal chestnuts like following your dreams, shooting for the stars, and believing that you can do whatever you set out to do. But that message doesn’t seem…

Norman Garmezy, a developmental psychologist and clinician at the University of Minnesota, met thousands of children in his four decades of research. But one boy in particular stuck with him. He was nine years old, with an alcoholic mother and an absent father. Each day, he would arrive at school with the exact same sandwich:…

It’s easy to overestimate the importance of luck on success and underestimate the importance of investing in success every single day. Too often, we convince ourselves that success was just luck. We tell ourselves, the school teacher that left millions was just lucky. No. She wasn’t. She was playing a different game than you were. She was…