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Why All News Seems to Be Good News | Sound Underwriting vs. Position Management
This Week in Intelligent Investing
What's the Difference Between Type One and Type Jamming?
i compared what coved's done to the economy with what, ah, you know, i'm a fish fan. They have this thing called type one or type jamming. The way i see it with covid i mean, we've left stropshire as a society in the biggest, most profound way that we've experienced since world war two. And i love, ta, love those phrases that you gave from the post, called war planning of a risk, uncertainty, complexity, ambiguity. I is quite profound and interesting.
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Speaker 1
I is is quite profound and interesting. And, you know, he was a very big a. He was very insistent that over complacency is actually what creates the conditions for economies to fall off a you end up with what he called ponse underwriting standards across the economy, to be confused with pansas scheme per se, but it was a distinct allusion to that. And so, yes, you know, that's definitely a problem. But you know, i would come at this from a different angle. When we were taking our break, i wrote my most recent letter, and i compared what coved's done to the economy with what, ah, you know, i'm a fish fan. I've spoken about this before. They have this thing called type one or type jamming. So i don't know if all of you are familiar with the band fish. If not, brief background is they play songs and improvise around them. So type one jamming would be taking a coarse structure of a song and noodling around a structure without leaving it. But type too is saying like, you know, you start a song and then you end up in a completely different space that effectively has no, no tether to where you started at all, in structures, eft entirely. And the way i see it with covid i mean, we've left stropshire as a society in the biggest, most profound way that we've experienced since world war two. And i love, ta, love those phrases that you gave from the post, called war planning of a risk, uncertainty, complexity, ambiguity.
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