RE: What book, podcast, or YouTube video has changed how you think?
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I was reading Antifragile by Nassim Nicholas Taleb when the Covid panic began to bite, and I applied his "panic early" approach to my life as best I could. Taleb’s idea of “panic early” isn't about being scared - I wasn't scared of Covid - it means it’s smart to act quickly when you first notice that something might go wrong, even if it doesn’t seem like a big deal yet. Instead of waiting for a disaster, you get ready or make changes early. That way, you may not only avoid disaster but thrive in the ensuing volatility.
He also gave me the concept of the "Lindy Effect." The Lindy Effect is a rule of thumb that suggests the longer something non-perishable (like a book, idea, or technology) has been around, the longer we can expect it to last into the future. So if something has survived 100 years, it may reasonably be expected to survive another 100.
I don't agree with everything Taleb says, and his opinion of Bitcoin and cryptocurrencies in general is lamentable, as I mentioned in this blog post a few years ago:
That aside, however, I find his books to be highly entertaining and thought provoking.
!ALIVE
!BBH
This is a very interesting author to read and as you said thought provoking. I read the Black Swan and I had thereafter a different approach about markets and investing.
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