We Already Own Almost Nothing, But Are We Happy Yet?

We Already Own Almost Nothing, But Are We Happy Yet?

Do we really own much of anything these days? Well, I thought we did. Like corporate stocks, securities. Turns out we don’t. We “own” only a “security entitlement” – a claim on the underlying security that is held by an agent. And so much today is bought as a subscription, lease, or collateralized loan. The situation here is worse than I could have imagined.

We Don’t Learn From History. We Learn From Experience.

We Don’t Learn From History. We Learn From Experience.

We don’t learn from history, but we should, according to various wise folks. But is this really true? My head learns from the study of history, but my heart and will learn from direct personal experience. Also known as the hard way. The leaders who are making history today probably act primarily on the basis of personal experience and consequent hard-way learning. Why