Below, I share content I consumed and learned from last week. I spent time doing general learning about a variety of topics.

What I consumed last week and what I learned from it:

• Why self-directed investing builds judgement skills – YouTube interview with finance technology entrepreneur Tom Sosnoff. His insight that self-directed investing helps you build the skill of how to think under uncertainty really stuck with me. Calibrated judgment under uncertainty is the value that accrues regardless of your portfolio return. His point aboutthat self-directed investing beingis one of the few ways that salaried, W2 employees can get repetitions with an owner’s mindset (capital allocation, risk sizing, reading balance sheets, etc.) makes a lot of sense. Sosnoff thinks the change to zero commissions changed everything in the world of investing. This reminds me of the regulation -change tailwind that Charles Schwab and  Joe Ricketts rode when they founded their discount brokerage platforms (see here and here).

That’s what I learned from what I consumed last week.