Mental Models are frameworks that one uses to think about the world. Studying the Mental Models of successful people is one of the best ways to learn from them. Here are all Wealth Potion articles about Mental Models.
The Most Important Skill in 2024 and Beyond? I think about this tweet often: Because I think it’s true. The internet is exponentially increasing the amount of information available to us. That is, in part, what Naval is referring to when he says “infinite leverage”. But not all of that information is “good” (i.e. true, […]
Judgment and Being Open-Minded Read More »
It’s called “Personal” Finance for a Reason I’m in Tokyo, Japan this week. Being on vacation affects our psychology around spending quite significantly. And it is what inspired this week’s article. If you’re like me, you’ve picked up personal finance beliefs from a number of sources: Today, we’re going to pause and reflect to see
Personalized Finance Read More »
Letting Go of Your Negative Beliefs About Wealth “Seek wealth, not money or status.” – Naval Ravikant Our newsletter is called Wealth Potion… so I imagine you subscribed to learn how to build wealth. But what is wealth, exactly? And beyond it’s official definition, what does wealth mean to you? Why is this important? Because
High Time Preference vs. Low Time Preference What is the definition of success? This sounds like a simple question, but I promise there is an important lesson here. Success is “the accomplishment of an aim or purpose.” You can choose which aim or purpose you wish to pursue. But regardless of what you choose to
The Importance of Time Preference in 2024 Read More »
Do you use Cathedral Thinking? If not, you should. Cathedral thinking is a concept born from the medieval times about thinking in the time-span of multiple generations. Cathedrals and other ancient works of architecture often took decades, sometimes centuries, to build. It’s a sign of a society with a healthy relationship with long-term planning, patience,
#017: What is Cathedral Thinking and How to Use it to Grow Wealth Read More »
Legendary investor and Co-Founder of Oaktree Capital, Howard Marks, puts out memos on his website on a regular basis. Many investors, including Warren Buffett, have very high praise for these memos: “When I see memos from Howard Marks in my mail, they’re the first thing I open and read. I always learn something.” – Warren
#012: Taking the Temperature – Breaking Down Howard Marks’ Memo Read More »
