Volume 14, Number 1, 2016
I discuss ten common themes between non-investment related activities that shed practical and useful light on investing. While readers might not be familiar with these particular activities, I believe that combining analogies from any accumulated skill in intrinsically rewarding activities (also known as hobbies), with a disciplined analytical approach yields significant benefits. The five activities discussed are ultra-running, flying, theoretical physics, screenwriting and programming. The lessons are mostly commonsensical: from focusing on structure and the environment, to paying attention to data and momentum, to avoiding the basic types of errors, and the use of tools such as simulation and thought experiments. I finish with a bonus tip. I hope that the reader finds these examples useful as complements to rigorous mathematical models.