Recently, I had the privilege of interacting with Shane Parrish, who is the publisher of Farnam Street blog.
The Transcript is only for Paid Member. Please attached a copy for your follower here.
Today only after reading the transcript of the google talk, I felt the difference b/w the learning’s of the two methods. I request you to share the transcript of this talk too if possible for our better understanding.
Books mentioned during the interview
Peter Bevelin, Seeking Wisdom
Laurence Endersen, Pebbles of Perception
Atul Gawande, The Checklist Manifesto
Peter D Kaufman (ed.), Poor Charlie’s Almanack
Berkshire Hathaway: Letters to Shareholders
Your story continues to motivate me as always! Thanks for sharing 🙂
Hi Professor ,
It was a surprise to see you on Farnam Street blog.
Thanks for your sharing your insights.
I learned about mental models from Farnam street.
Just curios to know how long did you take to apply these models in your thinking, business and life.
I believe it requires lot of personal transformation to think with different models.
Thanks Professor & Shane for sharing this interview. Many things to learn from both of you, especially the vast knowledge of books you have read and experienced throughout years. Every thought process you share gives us food for thought to dig more into the subject.
Like to share this ancient, 16th century DECISON MAKING TOOL: simple and elegant!
In the 16th century, the principal founder of the JESUIT ORDER, Ignatius Loyola, came up with the following simple and elegant method for making the right decision.
First, spend 3 days ‘AS IF’ you had made a decision. During these 3 days, make a note of all your thoughts, feelings and dreams.
Then go through the same process with an ‘alternative’ decision.
Compare notes in the end. And then decide.
Sorry I could not get the name of the book you’ve mentioned at the end of the talk .Can you pl put it here .
just like Costco mentioned in the interview this indian company is a 2% net profit margin business with a 6 yrs avg ROCE of 27% available at less than book and has been paying dividend since inception ie more than 21 yrs.. is the worlds largest processor of castor seeds and produces the worlds largest range of castor oil derivatives..
India produces 80% of worlds castor seed and so this indian company is uniquely placed by having its plants located in gujarat India. processes 30-40% of worlds castor oil ..
according to Indian Institute of chemical technology-hyderabad.. castor oil and its derivatives can be used to produce 1000’s of chemical intermediates which can replace crude oil in the chemical industry.. (castor oil & its derivatives are well established as a renewable Green Chemical)
Govt regulations like REACH which have banned crude oil based low molecular weight phthalates .. starting feb 2015 .. is going to provide tailwind to this Indian company
available @ market cap of 150cr 1/10 its annual sales has just 16cr of long term debt and short term debt is 90% “Export Packing credit” (which is guaranteed by a letter of credit)
Interesting company with a down to earth promoters who maintain a low profile.. with 0% institutional shareholding.. worth giving a second look.
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