3 Paragraphs to think
My father’s favorite phrase was: “stop bullshit yourself.” Brutal, direct, unforgettable. Charlie Munger said it with more polish: “Nothing is easier than self-deceit. For what each man wishes, that he also believes to be true.”
I see this play in angel investing all the time. A founder pitch feels like magic because you crave the story. Deep down, you know there’s a trick—but you look away, because reality would kill the show. Self-deception is the most expensive delusion in markets.
The real edge isn’t spotting other people’s lies, it’s killing your own. Investors who can’t do that aren’t unlucky—they’re self-deluded. And the market always collects its fee.
2 Resources to pro
1. As the ancient philosopher Heraclitus remarked, ‘No man ever steps in the same river twice, for it is not the same river and he is not the same man.’
2. Sam Parr on Twitter: What’s the difference between a $10m, $100m, and $1b lifestyle? Asked this question in Hampton's Slack community since we have people worth $10m - $2b. A few takeaways from the 50+ replies Check it out →
1 chance to smile
Have a great weekend,
Simone