US EditionSimon Angelo: Unseen Incentives, Uncommon Results
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Simon Angelo: Unseen Incentives, Uncommon Results
Show me the incentive and I’ll show you the outcome. —Charlie Munger Investing is about understanding human behaviour. The more you can predict how people will act, especially in herds, the more of an advantage you will have. I like to think of incentives as ‘bread’ in the old German proverb: ‘Whose bread I eat, his song I sing.’ ‘Bread’ means anything really of value. Sustaining relationships. Supernormal profits. Power and prestige. Hinkel…
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