"Same As Ever"

Table of Contents

Reasons to recommend Same As Ever

This article is about a good financial book called “Same As Ever“, written by the author of “The Psychology of Money“.
In addition, the author quotes a lot in the book, which is a good book on finance and personal career guidance that I have also introduced: “An excellent book for career and life- The Almanack of Naval Ravikant“.

Some highlights of this book

After deducting everything you have considered, what remains is the risk. Or risk is what you didn’t expect.
People don’t want precision, they want certainty.
Because they are valuable, people usually take every possible measure to protect physical assets. Just because they have no price tag and cannot be traded, people ignore and cannot see things that are in fact more precious assets, such as vision, family affection, etc.
Stories are always more powerful than statistics. The best stories will win. Every equation you put in a book will cut sales in half.
Lansdale: One thing missing from the Department of Defense data is how the Vietnamese felt. Lansdale: One thing missing from the Department of Defense data is how the Vietnamese felt, and you can’t reduce it to a statistic or a chart.
Grant: Anyone who thinks that the value of a common stock is based entirely on DCF and earnings adjusted for marginal tax rates has forgotten that people once burned witches and started wars on impulse.
72 hours before the collapse of Lehman Brothers, the capital ratio, which is the main indicator for measuring banks’ ability to withstand losses, was 11.7%, better than the previous quarter and far better than Bank of America and Goldman Sachs.
Hayes: People who don’t read history think everything they see is unprecedented.
Good news takes time to develop, but bad news often comes in an instant.
Economic value is a simple idea: if someone wants something, it has value, no matter what the reason is.
The secret to doing good research is to be a little lazy.
There are five main reasons why competitive advantage fades.
A book is far more than what the author writes, it also contains everything you can imagine and understand.

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