Category Archives: Decision Making

Victor Frankl on how to lead a happy life

Man’s Search for Meaning, by Victor Frankl, chronicles the author’s time as an inmate in the Auschwitz concentration camp during World War II. The early chapters do not make for easy reading but the book opens up into one of the deepest and most eloquent explorations of the meaning of human existence and man’s search for such meaning. This book is essential reading for anybody interested in the psychology of suffering, mental health, personal growth, and how to lead a happy life.

Striving to find a meaning in one’s life is the primary motivational force in man… This meaning is unique and specific in that it must and can only be fulfilled by him alone; only then does it achieve a significance which will satisfy his own will to meaning.

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Leadership lessons from a Four Star General and a Lord Admiral

In 2004, one of the greatest war machines of all time, the US military, was struggling to beat back Al Queda in Iraq (AQI). Whilst the allied forces had huge advantage in numbers, equipment and training, the commander of the Joint Special Operations Task Force, General Stanley McChrystal, realised that conventional military tactics and command structures were failing. Team of Teams: New Rules for Engagement in a Complex World gives McChrystal’s account of how he and his colleagues discarded a century of conventional wisdom and combined culture with strategy to create a faster, flatter and more flexible organisation that ultimately proved successful in defeating AQI.

But Team of Teams isn’t only a military book, it’s packed full of lessons about strategy for businesses as well. If you are a seasoned business executive struggling to come to terms with new ways of working, or a startup entrepreneur scaling a business, whilst at the same time grappling with how to keep a startup culture alive, then you should give it a read.

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Philip Tetlock explains how to get better at predicting the future

In a landmark study undertaken between 1984 and 2004, Wharton Professor Philip Tetlock showed that the average expert’s ability to predict the future was only slightly better than a layperson using random guesswork. His latest project, which began in 2011, has since shown that there are some people with real, demonstrable foresight. These are often ordinary people who have an extraordinary ability to predict the future with a degree of accuracy significantly greater than the average. In his book Superforecasting: The Art & Science of Prediction, co-authored with Dan Gardner, Tetlock identifies how you can improve your ability to predict the future and become a superforecaster.

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Howard Marks on second level thinking

Howard Marks is the Chairman and cofounder of Oaktree Capital Management and author of The Most Important Thing: Uncommon Sense for the Thoughtful Investor. According to the book’s sleeve, he is renowned for his insightful assessments of market opportunity and risk. He is sought out by the world’s leading investors, and his client memos brim with astute commentary and time tested fundamental philosophy. On a more personal note he’s one of my investing heroes. A value investor at heart, his broad thinking and eloquent expression is pertinent to anyone with investment and business interests both professional and personal. In The Most Important Thing he lays out, over 20 chapters, the building blocks to successful investing. All are equally important and essential “guideposts” that together create a “solid wall” that keep investors focused on the most important things for successful portfolio management.

I’ve summarised two of my favorite ‘most important things’. In this post, the importance of second level thinking, a key skill for any contrarian investor and in another post, Howard Marks (and Nassim Taleb) on the role of luck and randomness in life and business.

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Paul Kalanithi teaches us why technical excellence is not enough

Paul Kalanithi, M.D., was a neurosurgeon and writer. He graduated from Stanford University in 2000 with a B.A. and M.A. in English Literature and a B.A. in Human Biology. He earned an M.Phil in History and Philosophy of Science and Medicine from the University of Cambridge before attending medical school. In 2007, Paul graduated cum laude from the Yale School of Medicine. He returned to Stanford for residency training in Neurological Surgery and a postdoctoral fellowship in neuroscience. In 2013 he was diagnosed with stage IV lung cancer, though continued to work, completing his neurosurgery residency in 2014. He also authored the book When Breath Becomes Air, which detailed his journey through treatment and eventually his death in March 2015. He is survived by his wife Lucy and their daughter Cady.

Although I’d heard of this book before, I first stumbled across it in a charity shop about one month after I’d finished 5 months of chemotherapy for colorectal cancer. I cried my way through much of the book, but I had to read about Paul’s journey and his exploration of life and death. Continue reading →

The strategic genius of John Boyd: “The Fighter Pilot Who Changed the Art of War”

Robert Coram, author of Boyd: The Fighter Pilot Who Changed the Art of War, describes John Boyd as “first, last and always a fighter pilot – a loud talking, cigar-smoking, bigger-than-life fighter pilot”. But also as more than that: “he was that rarest of creatures – a thinking fighter pilot.” Boyd is widely considered to be one of the world’s greatest military strategists, despite the fact that it’s unlikely you have ever heard of him. Over his career he bought the Air Force its Aerial Attack Study, invented Energy-Maneuverability (E-M) Theory and was the father of the F-15 and F-16 fighter jets. He brought strategic thinking to the armed forces more generally, and now to business: he created a decision making framework called the OODA loop, his Patterns of Conflict brief provided the strategic basis for the US military’s 100 hour victory in the first Gulf War and still underpins US Marine Corps fighting doctrine to this day.

John Boyd was an endearing eccentric and strategic genius who is brought wonderfully to life by author Robert Coram in his meticulously researched book. Coram demonstrates what one man, surrounded by a few devoted and loyal Acolytes, can do to change the world. Maneuverability, as it relates to military (and business) strategy, we learn is key.  Continue reading →