Updates

  1. Person pages list letters, writing, profiles and links as sortable tables with filters, and show each person's companies as links; Fund letters show each letter's description in its own column.
  2. Experts show a checked job title and a short description of each person; 30 more people have photographs.
  3. Every company, fund, university and publication the experts work for has a page listing the people there.
  4. Fund letters show each letter's thesis and filter by it; 225 person pages list the essays, columns and newsletter issues the person wrote.
  5. Person pages list every essay and newsletter issue a person wrote, and their own books as a table in List view.
  6. Recommends shows the five largest kinds of book and the rest under More; browse pictures load sooner.
  7. Podcasts and talks link the original episode, filter by Audio and video or Press, and list each publisher once.
  8. Pages are wider, Recommends has List and Grid, and a filter clicked again turns off.
  9. Book cards sit in a ruled grid with Open Library and Goodreads links and each book's one-line note.
  10. Funds is now Investors; each investor's styles are buttons that filter the table.
  11. Podcasts and talks on a person's page filter by year and publisher and show as a list or a grid of pictures.
  12. Quotes show only people's own words: 472 summaries written by list sites are gone.
  13. Country pages open from Browse again, and every link on the shelf lands on a page.
  14. Subject and person pages show their sections as tabs, and each book appears once on a person's page.
  15. Book cards show the quote, who said it and the source; grids show five cards to a row.
  16. On a phone, a menu holds the sections, search, Updates, Feedback and dark mode.
  17. Feedback takes a screenshot of the page with no browser prompt, opens a screenshot full size when you click it, and clears itself once sent.
  18. Book cards are centred, search names the topic each book sits in, and any text cut short shows whole on hover.
  19. Search groups its results by kind: people, companies, geographies, subjects, topics, books, funds, fund letters and papers.
  20. The Books table lists who recommended each book by name, and the browser tab names the section you are in.
  21. Feedback can take a screenshot of the page, or one you paste or choose, and opens in the corner beside Updates.
  22. Each rail button reopens its section where you left it, and Browse, Table and People show on every book and subject page.
  23. Filters grey out choices that hold nothing instead of hiding them, and Books › People filters by authors or recommenders.
  24. Feedback takes a subject line and up to three screenshots.
  25. Biographies are grouped by the person they are about: 41 new pages, from Abraham Lincoln to Lee Kuan Yew.
  26. Sport splits into 23 sports, and Religion into one topic per faith.
  27. Book lists show as cards: the cover, one recommendation quote and every recommender by name.
  28. Seventeen subjects that had two or three pages under different names now have one page each.
  29. Every page lists its Experts as authors and recommenders, with a link to them on the Experts tab.
  30. Economics, Financial history, Financial panics and Accounting are subjects of their own, with one page per financial crisis.
  31. Book, person and subject pages open inside the app, so the tabs stay in view.
  32. 996 more book covers, and photographs or logos for 227 more people and companies.
  33. Books › Browse shows every subject as cards, and the rail holds Fund letters, Papers, Experts, Books and Funds.
  34. Every topic over 150 books splits into narrower topics, each with a page of its own.

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Reflexivity

Mental models

Soros's observation that prices are participants rather than scorekeepers: a rising stock cheapens a company's capital, fattens its collateral and attracts its talent, improving the fundamentals the price supposedly measures. The practical move is to ask not only whether the price is wrong but whether the price is changing the answer. Self-feeding trends are regimes to respect, not mispricings to fade early.

Books 5Experts 2Recommenders 8Resources 4

Start here

  1. Soros on SorosGeorge Soros, 1995
  2. The Alchemy of FinanceGeorge Soros, 1987
  3. An Engine, Not a CameraDonald MacKenzie, 2006
Manias, Panics, and CrashesManias, Panics, and Crashes
T1 Manias, Panics, and Crashes
Charles P. Kindleberger · 1978
Open LibraryGoodreads

Financial crises follow a repeated sequence of boom, mania, panic and crash.

Recommended by: Howard Marks, Li Lu

The Alchemy of FinanceThe Alchemy of Finance
T1 The Alchemy of Finance
George Soros · 1987
Open LibraryGoodreads

Reflexivity, where beliefs move prices and prices move facts, tested in a live diary.

“The Alchemy joins Reminiscences of a Stock Operator as a timeless instructional guide to the marketplace.” — Paul Tudor Jones

Source: Tudor Jones pairing it with Reminiscences of a Stock Operator

Recommended by: Guy Spier, Paul Tudor Jones, Peter Cundill and 3 others

An Engine, Not a CameraAn Engine, Not a Camera
T2 An Engine, Not a Camera
Donald MacKenzie · 2006
Open LibraryGoodreads

“his book An Engine Not a Camera (which I would highly recommend if you are interested in these topics)” — Michael Mauboussin

Source: The Wisdom and Whims of the Collective (Legg Mason Capital Management)

Recommended by: Michael Mauboussin

Soros on SorosSoros on Soros
T3 Soros on Soros
George Soros · 1995
Open LibraryGoodreads
The Crisis of Global CapitalismThe Crisis of Global Capitalism
T3 The Crisis of Global Capitalism
George Soros · 1998
Open LibraryGoodreads

More mental models

← Redundancy and MarginRegression to the Mean →All mental models