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therealheisenberg / December 26, 2016

“Just don’t mention the multiples…”

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December 26, 2016 in gold, stocks.

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Writing about a subject is the best way to educate yourself about it, and when I flick through past work I remember how much they taught me, if no one else. Mainly they taught me that I didn’t know very much. But they also taught me that most other people didn’t know much either. Thus, some key themes which stand out include the illusory control of policy makers, the presumed knowledge of those looking to them to actively do good, the ease with which we fool ourselves, and how best to protect capital in the face of such unavoidable uncertainty. -- Dylan Grice

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