Welcome to the Sunday Briefing newsletter where we share some of the interesting lessons in life, business, and investing that we’ve come across during the week.
Latest on Junto
Two notes were published on Junto during the week.
What we must do this decade to reach net zero in 2050. We are at a critical start of a century that should transform the energy system on an epic scale.
When buying stocks, imagine the stock market is closed for five years. You do not take yearly results too seriously, you discard your mediocre ideas, you stay away from things you don’t fully understand, and you care a lot about the price you pay.
What we’ve been reading
Leverage points: places to intervene in a system. Systems are everywhere. Here’s a striking piece on twelve ways to change a system.
Nassim Taleb’s new bitcoin paper. No matter what stance you have on bitcoin, everyone should read Nassim Taleb’s recent paper.
Gold and other precious metals are largely maintenance free, do not degrade over an historical horizon, and do not require maintenance to refresh their physical properties over time. Cryptocurrencies require a sustained amount of interest in them.
Quote of the week
Nassim Taleb on bitcoin and the cumulative ruin.
“If any non-dividend yielding asset has the tiniest probability of hitting an absorbing barrier, then its present value must be 0.”
Read randomly and unsystematically. I have never found learning about anything a waste of time.
Have a great coming week,