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Frederik Gieschen

@NeckarValue

Sep 23

8 tweets
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"I was at lunch with Josh Waitzkin, Tim @Tim Ferriss , and Michael @Michael Mauboussin. We got into an argument about should you trust your intuition. Waitzkin was saying, once you have the experience and domain understanding in investing, you should trust your intuition." @Alix Pasquet

"And Mauboussin was saying, you have to be careful trusting your intuition because investing operates in an environment that is complex, evolving and prone to nonlinear change. Your intuition, which has a lot to do with pattern recognition, may no longer apply."

"I agree with both of them, but you have to add a very important dynamic, which is that people that have good intuition are willing to change their minds. They don't anchor and they're highly networked. They're jacked in."

"When you have the perspective of the network, and wisdom is multiple perspectives, your intuition, judgment will be more sound. Things that are happening in the environment are bubbling up to you because you have this network that is filtering stuff, if your network is good."

"It allows you to observe things that are happening rather than say I think this is happening, but you haven't really seen the facts or an observation that justifies your intuition. It's another way of saying that you need networking in our business."

"Bill @Bill Miller taught me this. He told me early on, “You want to belong to multiple networks.” If you only know a bunch of guys in New York, you have a problem. Network diversity can start with the geographic location of the people, but it’s also age."

"I like to do is spend time with younger people, as much as I spend time with peers or older people. And the other thing also is constantly meeting new people. With technology, it also allows you to test your echo chamber."

"Twitter allows you to filter and be connected to totally different networks than you would ever be. There’s networks we’ve been playing with that I didn't even know existed until a week ago. I’m amazed by what we’re learning through these people." neckar.substack.com/p/the-learning…

“There's so much information that you have to use filters to learn. The problems you have to solve serve as filters. Also smart people, your goals, even the investments you make."

neckar.substack.com/p/the-learning…

🎙 The Investor's Learning Mindset with Alix Pasquet

Frederik Gieschen

@NeckarValue

Learning from history's great investors. 🤔How did everyone get so rich (and are they happy)? 📖 Compound, create, change.

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