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Hi, my name is Donnie Sattar, the Portfolio Manager of Rubicon Investment Group. This Substack is to share 1st principles lessons and, hopefully, find others to learn with.
Learning is a slow but compounding process. I have found that I learn better when I either write or explain to others. That simple realization is the point of writing essays – use them as a learning tool.
My belief is that decisions should stem from first-principles reasoning. Therefore, even supposed foundational beliefs should be tested, because they have often been absorbed passively.
Charlie Munger says we should learn vicariously through others. I believe this to be true and will from time-to-time reference great thinkers like he and Warren Buffett. However, it’s not blindly following their advice, rather, after deep cogitation, independently arriving at a similar conclusion.
I have found this to be the key learning - struggle with deep questions, test hypotheses with empirical data or rigorous experimentation, and then seek the wisdom of others who have wrestled with the same questions. This process is a continuous loop of reasoning, testing, and learning.
Ultimately, true understanding manifests through clear explanations, and so that is the point of these essays - share learnings, or 1% IRR’s, as we evolve.
I live in Minneapolis, MN with my wife, two young boys, dog and cat. We love the outdoors, and are attempting to visit all the national parks. We also play lots of board games (in beta development on a couple of our own 😉)!