Tuesday, February 17, 2015

Embrace the analog

What were you doing this Valentine's Day? Nothing says I love you like a set of fresh 13F's from your favorite investors.

Holdings from gurus like Mohnish Pabrai were realized over the weekend, and another flood is being released today, including those of Berkshire Hathaway.

As I sit here taking note of some of the more interesting stock picks with my favorite gel ink pen (oh how it glides so smoothly across the page!), I want to impart something I have learned through years in pursuit of life-hacker elite productivity through hi-tech gadgets and psychological nudges.

Embrace the analog.

Here is a tour of Warren Buffett's office:

https://www.youtube.com/watch?v=uoaGaz-KDaw

Where's the TI-83 calculator? Where's the computer? Not even a cordless phone? Or an ergonomic chair? It looks like Warren Buffett operates in much the same way he did when he first started out in the 1950s.

Peter Lynch, author of One Up on Wall Street, even said his most useful tool was the yellow legal pad. And Mohnish Pabrai says that if he needs to even reach for a spreadsheet to make a calculation regarding an investment, it's a sign that he should pass--value ought to be stunningly obvious. In other words, go for the low-hanging fruit.

Now I'm far from a Luddite - technology is immeasurably useful for investing and multitudes of other endeavors. But sometimes it gets in the way, rather than being a complement to productivity and thinking. Psychological research has shown that writing by hand can even get you past writer's block much quicker than typing. And there's something to be said for those old Dictaphone voice memo recorders.

If spreadsheets have become more of a chore rather than a tool, take a step back and try something a little bit new.

The humble notebook.

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