Michael

"You should study risk taking, not risk management." — Nassim Nicholas Taleb

In a new podcast episode (in German), I break down the business model of $NU. The episode is part of the OAWS deep-dive series by OMR, Germany's largest business podcast network. If you'd like an English transcript, send me a DM and I’ll forward it to you. Link in reply.

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My top Poland holding $GPW monopoly Warsaw Stock Exch. just published great 2025 results. Op profit almost double YoY. Price 69 zl EPS 4.65 zl. 42.5m shares. 5 zl of cash per sh.

"A good book is one that no two readers would summarize in the same way. A great book is one that produces different summaries for the very same reader." — Nassim Nicholas Taleb ​Read books with depth by lucid thinkers; e.g., John Gray and the author of the quote above.

Im philosophischen Basislager eurozine.com/im-philosophis…

Some links to stories I found interesting last week: valueandopportunity.com/2026/03/15/som…

Ecos Bibliothek: Ein letzter Besuch | FAZ share.google/rx5vqcxkQq6ul1…

Dear enemies, detractors, libellers, university rats, genocide propagandists, ethnic cleansing & baby murder promoters, & label conscious Davos midwits, it also happens that #Antifragility is the most influential 21st C. concept.

Stanley Druckenmiller on current positioning: - Big positions in Japan and Korea - Bearish US dollar - Long Copper - Rolling Front End - Short bonds - US Economy strong, because of BBB and rate cuts - Macro is not dead anymore - Portfolio not fully AI-driven anymore Source: @MorganStanley

Incorrect; a common logical-statistical misrepresentation. Most of those who free themselves do it on their own, not most of addicts free themselves on their own. Beware mixing P[cured|on their own] and P[cured on their own]

@MoS_Investing I would be more impressed if Co-Pilot would be any good.

Here's the lineup for the first few weeks of @bookclubpodhq, if anybody wants to read ahead. (But you don't have to!) 17 February Wuthering Heights 24 February Never Let Me Go 3 March The Great Gatsby 10 March Hamnet 17 March Nineteen Eighty-Four 24 March The Secret History

📚 Announcing a brand new podcast from Goalhanger: @BookClubPodHQ Hosted by historian @dcsandbrook and producer Tabitha Syrett, it’s a weekly deep dive into the world’s greatest books - their authors, ideas and why they still matter. Launching 17 Feb | linktr.ee/thebookclub

Enough, Better, and Optimal... My attempt to create a framework to help most people figure out how much exercise or movement is enough. We are a small, biased bubble here... we push. But... The vast majority of people do nothing for various reasons... yet, some want to and are put off by thinking they need to do far more than is actually needed. howardluksmd.substack.com/p/enough-bette…

Extreme bureaucratic regulatory oppression and wealth confiscation (moving capital allocation from highly competent entrepreneurs to incompetent government) is why Europe has been economically slowly strangled over the past few decades! Fools like this guy do not understand that they are the cause of Europe’s pain. There no wealth to reallocate when they prevent it from being created in the first place.

@theseriouslibrl @PeterAttiaMD @EricTopol Water wine coffee and normal food

If you are going to listen to a MYTHBUSTER, this is it!!! Scholarly Reverse Hasbara William & Anita gathered the "A Team" to discuss the history of Gaza & Palestine since the BRONZE AGE. J. Quinn (Cambridge) P. Sarris (Cambr) J. Phillip (Royal H) E. Rogan (Oxf) C. Elkins (Harv)

NEW: How Stan Druckenmiller will influence Kevin Warsh at the Fed. wsj.com/economy/centra…