Tag: Don Shaughnessy

I Could Teach A Monkey


Some time ago, my daughter had to do some trivial task at work. She was not happy. According to her, “I could teach (her nephew, then 14) to do it in 5 minutes. I could teach a monkey to do it in an hour.… Continue Reading “I Could Teach A Monkey”

The Greatest Mistake


“It Started With a Quote” is a blog I follow. You should take a look. I found this recent one to be helpful because it shows how intuitive it is for us to accept one of life’s crucial mistakes as being reasonable. Story adapted… Continue Reading “The Greatest Mistake”

Life Is Like A Pilates Class


We have all heard the idea “It has withstood the test of time.” What does that mean, really? What can we assume to know from that simple fact? First, things that have been around for a long time probably have value. People sometimes wonder… Continue Reading “Life Is Like A Pilates Class”

Make More Mistakes


When I was at university, a very bright guy on my residence floor, had a saying.  “I was wrong once.  I thought I had made a mistake, but it turns out I really didn’t.”  I have occasionally wondered how he deals with adversity. I think you… Continue Reading “Make More Mistakes”

Protect What You Have Earned


If you follow hockey, you will notice that many injuries result from late hits.  Some might say dirty hits.  A player cannot risk being in a vulnerable position.  In simple terms, protect yourself because you cannot expect others to do it for you. In… Continue Reading “Protect What You Have Earned”

You Cannot Be A Specialist In Everything


I am amazed at financial advisers who list twenty or more specialties on their websites, letterhead and even on their business card. I suppose they think breadth is important. It might be, but it is very difficult to keep up to one field, never… Continue Reading “You Cannot Be A Specialist In Everything”

Apply Sutton’s Law With Every Client


Willie Sutton was a bank robber who spent more than half his adult life in prison. Despite his unenviable career, he had good ideas that translate into other realms. One of his famous ideas was an answer to a reporter’s question, “Why do you… Continue Reading “Apply Sutton’s Law With Every Client”

Monuments and Heirlooms


Many people have assets that are treasured by the family. These can include a farm handed down through many generations, a business carefully created, a cottage, painting, a piece of jewelry, an antique or art. Some of these assets are liabilities. In simple terms,… Continue Reading “Monuments and Heirlooms”

Reversability Is A Dimension Of Risk


No action is risky if you can reverse it for little or no cost. People often confuse complexity and the size of the transaction with risk. At the same time, they believe that simplicity and ease of performance will reduce risk. The world does… Continue Reading “Reversability Is A Dimension Of Risk”

Go Ahead! Take The Cover Off.


In the spring of 1954, there was great tragedy in the home of my grandparents, just up the street from where we lived. A wonder of the mechanical world of that time had stopped working. Their brand new, pop-up toaster, would not pop-up. My… Continue Reading “Go Ahead! Take The Cover Off.”

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