Egor Reading Books 🧞‍♂

👆 Three things Jim Paul settles before entering anything. His full sequence is five steps, and it is the only part of the book that looks like an instruction manual. What I find useful is not the content of the rules but when they get written. All three have to be decided while you are calm, because once the loss is on the screen the arguments appear by themselves, and every one of them argues for waiting a little longer. Outside money it transfers exactly the same way. Decide in advance what result means killing the product or admitting the hire was a mistake, and the choice gets made by the plan instead of your pride. 19 September is when we get into it. 📅 Don’t miss our next meeting: September 19, What I Learned Losing a Million Dollars | 6 PM FET / 5 PM CET. Want a reminder by email? Fill out this short form! @businessinbooks 🟣 @busbookclub

One question, one comment. Jim Paul lost 1.6 million dollars in three months and got a whole book out of it. Most of us get something smaller and quieter: a hire that did not work, a product nobody wanted, a year spent on the wrong thing. I am not asking for the disaster. I am asking for the thing you understood afterwards and would not have understood otherwise. One line is enough 👇 📅 Don’t miss our next meeting: September 19, What I Learned Losing a Million Dollars | 6 PM FET / 5 PM CET @businessinbooks 🟣 @busbookclub

📢 We are meeting today. Tonight it is What I Learned Losing a Million Dollars: the only book on the shelf that studies losing instead of winning, written by a man who had every reason to trust his own judgement. 🕕 6 PM FET / 5 PM CET. Link goes in the chat half an hour before. @businessinbooks 🟣 @busbookclub

Thanks to everyone who came on Saturday for Jim Paul. The line that stuck: losing money is an event, being wrong is when the position becomes you. That is as true of a product or a hire as it is of a trade. Where we did not agree: whether the five categories (investing, trading, speculating, betting, gambling) actually help in practice, or whether they are a tidy way of saying "know yourself". If the book landed, the natural next one is Nassim Taleb - he wrote the praise on this cover and argues the opposite about where the big losses come from. 📅 Don’t miss our next meeting: October 3, Brave New World | 6 PM FET / 5 PM CET @businessinbooks 🟣 @busbookclub

Aldous Huxley wrote Brave New World as a parody of Herbert Wells and his utopias. The parody won: today it gets read as a forecast rather than a joke. Two hundred and fifty pages, two evenings. If you want to turn up having finished it, this weekend is a comfortable place to start. What unsettles me in it is not the future but the consent. Orwell always gives you an enemy, and therefore a job: resist. Huxley gives you nothing to resist, because people like it - which is, I suspect, a far better description of how things actually work now. 📅 Don’t miss our next meeting: October 3, Brave New World | 6 PM FET / 5 PM CET @businessinbooks 🟣 @busbookclub

Three books ahead, and all three are worth getting hold of now 👆 The one I am most curious about is Salt. It is the only book of the season with no hero and no advice in it - just a substance and four thousand years of people fighting over it. If you have missed a meeting, it does not matter. Each book stands on its own and nothing carries over. 📅 Don’t miss our next meeting: October 3, Brave New World | 6 PM FET / 5 PM CET @businessinbooks 🟣 @busbookclub