5min chapter

Invest Like the Best with Patrick O'Shaughnessy cover image

Vaughn Tan – Quality and Innovation - [Invest Like the Best, EP.150]

Invest Like the Best with Patrick O'Shaughnessy

CHAPTER

What's the Hardest to Copy?

There are many ways of doing a thing, having a standard operating procedure can sometimes be counter productive. The person on the ground who actually has to do the thing understands constraints and resources much better than the person who wrote the so p there's an idea in complexity theory called equifinality that each one of those routes represents something which is optimal for a different set of ideas of what optimality means. So if you understand clearly what you are trying to trade off and what you are not trying totrade off, you can choose the right path, as long as you have the freedom to do it.

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