Friday Roundup – 8.18.23 Edition

Each and every Friday — I outline a few of the articles and/or books that I have read over the last week or two that are worth taking a look at.

Same As Ever By Morgan Housel

Every investment plan under the sun is, at best, an informed speculation of what may happen in the future, based on a systematic extrapolation from the known past.

Same as Ever reverses the process, inviting us to identify the many things that never, ever change.

With his usual elan, Morgan Housel presents a master class on optimizing risk, seizing opportunity, and living your best life. Through a sequence of engaging stories and pithy examples, he shows how we can use our newfound grasp of the unchanging to see around corners, not by squinting harder through the uncertain landscape of the future, but by looking backwards, being more broad-sighted, and focusing instead on what is permanently true. 

By doing so, we may better anticipate the big stuff, and achieve the greatest success, not merely financial comforts, but most importantly, a life well lived.

Go here to get a copy of this great book:

Charlie Munger’s 6 Mental Principles For Living Your Best Life

A good life requires more than talent or even luck. It demands timeless principles as the foundation for making wise decisions, navigating the uncertainties of modern life, and achieving lasting personal growth.

Many successful people swear by principles. Ray Dalio wrote about his foundation habits and successful principles in his book, Principles: Life and Work.

“Principles are fundamental truths that serve as the foundations for behavior that gets you what you want out of life. They can be applied again and again in similar situations to help you achieve your goals,” he wrote.

Charlie Munger, the esteemed vice chairman of Berkshire Hathaway and renowned investor, has a wealth of experience in building wealth and navigating the many challenges of life successfully.

Munger is a sage and philosopher of practicality. He known for his wise and pragmatic approach. Munger’s guiding principles for life are gems of insight forged through a lifetime of keen observation, contemplation, and experience.

His lifetime wisdom is a collection of principles that can form the bedrock of a good and meaningful life. His ideas, habits, rules, advice and lessons, honed over years of disciplined practice and relentless curiosity, offer a blueprint for surviving and thriving in modern existence’s complexities.

At the heart of Munger’s wisdom lies mental models — the building blocks of life, shaping our perceptions, influencing our choices, and ultimately determining the trajectory of our existence.

Go here to finish reading:

How To Have A Powerfully Productive Day

A lot of people I talk to are unhappy with their ability to get stuff done in their lives. They feel they’re wasting a lot of time, never really getting anything important done.

What I like to play with is the idea of having a “powerfully effective day.”

It’s a big topic, probably worthy of a whole book, but in this post I’m going to lay down some of the key principles and tactics.

If you can follow these — imperfectly, and with practice — you’ll transform how effective you are in your life. These principles and tactics are simple and powerful, but they require your wholehearted devotion to them.

Let’s dive in.

Principle 1: Align Your Targets

The tactic is to pick 1-3 tasks a day that align with  your targets. Here’s how it works:

You can’t be effective if you’re working on unimportant stuff. You have to work on the stuff that matters. But how do you know what matters?

  1. Set medium-term goals for yourself — 6 months to a year. What do you want to create in your life and in the world? These can be purpose work goals, personal goals, etc.
  2. Set monthly targets that align with the long-term goals. Then weekly targets that align with the month. This requires a monthly review/planning session, and a weekly one. Set reminders.
  3. Every day, pick 1-3 tasks that align with your weekly targets.

It’s a pretty simple system, not revolutionary, but what it means is that every day, you’re moving yourself closer to what matters most. Every day, you’re knocking out tasks that are meaningful and effective.

The daily, weekly and monthly sessions only have to take 5 minutes, once you get into the swing of it. The yearly or 6-month sessions might take a little longer, because you want to give some thought to what you really want.

Go here to finish reading:

How to Handle The Pressure

The Thought: How we feel is determined by what we think. We have two thinking systems: conscious and subconscious. Changing our perspective on a situation can change our feelings and well-being.

Here’s some context about this: many people are feeling a lot of pressure and faced with varying degrees of challenges. If that’s you, you’re not alone. I wanted to write up some considerations to help. 

We have an instant pot. I feel like I’ve been in it. 😅  

Those things cook a pork loin in like 20 minutes. I’ve gained a lot of wisdom from being in the pot. 

Last week’s letter I discussed that I was in the process of settling legal challenges. Well, I’m still “in process”. And that process is pressure. 

But I’ve had a “peace that surpasses understanding”. First off, the big reason why I believe that is the case is the grace of God. First and foremost. 

Then there are some practical things I’ll share below. 

I optimized so much of my life for comfort and convenience. It’s something I normalized. That’s not a good thing to normalize because it’s not the reality of life. Even the “wealthiest” people in the world have health problems, relationship problems, financial issues, etc. 

Normalizing for comfort is usually avoidance for perceived pain. 

Now I’m working to normalize discomfort, pressure and hardship.

Go here to finish reading:

Hope you enjoy these articles and books. Have a great rest of your Friday an amazing weekend.