The Importance of Semantics in Public Investing

In a tribe, if you think that Grog over there is a freeloader, you're not going to just come right out and point at him. And so because we acquired language, we could tell stories about Grog. And then he's already dead and he doesn't even know it because you and I started talking about him. So the incredible importance of semantic and story. This is coming from a quant. He who has the best story wins in many respects. The third observation here is this is my little hobby horse and soap box. We are deterministic thinkers living in a probabilistic world. It's easier than people think to go from zero to one. Just keep