Setting A Goal this Year? Make it a Process Goal

By Sean P. Murray

January 15, 2018

4 Min read

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Source: Reference-Dependent Preferences: Evidence from Marathon Runners It is the distribution of marathon finishing times collected from over 9 million runners. You might expect to see a smooth bell curve centered around the average time, but that is not what is depicted here. The general outline of the bell curve is evident, but it is punctuated with discrete spikes. At each major time interval, there is a peak of finishers followed by a lull. Anyone who has ever run a road race knows exactly...

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Charlie Munger on Bitcoin and Second-Order Thinking

By Sean P. Murray

January 8, 2018

4 Min read

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Charlie Munger turned 94 this year. He grew up in Omaha, Nebraska during the Great Depression. Through hard work, continuous learning, persistence, and generally avoiding stupidity, Munger has become one of the wealthiest individuals on the planet. Warren Buffett looks to Munger for advice. He’s literally seen it all. So I find it fascinating that people are clamoring for his opinion on Bitcoin. In a recent interview he offered this response: I think it’s perfectly asinine to even pause...

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To Improve Decision Making, Focus on the Process not the Outcome

By Sean P. Murray

January 4, 2018

4 Min read

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Imagine walking through a Las Vegas casino and observing the following: A patron at the Blackjack table is dealt a 17. The gambler decides to take a hit. The dealer turns over a 4. The player wins. The dealer says to the gambler, “good decision.” But was it? Well, in this particular case the outcome was positive, but we know there was a considerable amount of luck involved. In Blackjack, when a player hits on 17 there is a much greater chance of busting (losing) than there is of...

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My Favorite Books of 2017

By Sean P. Murray

December 27, 2017

11 Min read

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A list of the top 15 books I read in 2017: Leonardo Da Vinci by Walter Isaacson.  This is the same biographer that wrote wonderful biographies of Steve Jobs, Benjamin Franklin and Albert Einstein.  The power of Da Vinci’s intellect and the insatiable nature of his curiosity is well detailed in this volume.  Isaacson focuses on Da Vinci’s ability to master multiple disciplines (painting, sculpture, science, engineering, writing, anatomy, biology and so much more).  Da Vinci was a...

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Leadership Lessons from Lewis & Clark

By Sean P. Murray

November 8, 2017

11 Min read

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Charles M. Russell: Lewis and Clark on the Lower Columbia From May 1804 to September 1806, two men led an expedition from St. Louis, Missouri to the Pacific Ocean and back again. The group covered over 7,000 miles, crossed the Rocky Mountains in harsh conditions, and encountered numerous Native American tribes, both friendly and hostile. They were the first people of European descent to explore this territory.  Only one man died on the journey, and that was likely from acute appendicitis. All...

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Management vs. Leadership

By Sean P. Murray

October 6, 2017

4 Min read

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I’m often asked, “what is the difference between management and leadership?”  The best answer I’ve ever heard, and the one I usually give is: Management is about doing things right.  Leadership is about doing the right thing. Like any great aphorism, it is short and memorable.  It does a decent job communicating the big concept, but it can be a little dissatisfying.  The natural follow up question is always, “yes, but how does it really work in practice?”...

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When Your Wave Comes, Ride It

By Sean P. Murray

September 15, 2017

5 Min read

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Laird Hamilton surfing Teahupoo on August 17, 2000.  Photo: Tim McKenna   On August 17, 2000, Laird Hamilton was surfing a famous break off Tahiti called Teahupoo. The break at Teahupoo already had a fierce reputation, but on this day, Laird and his friend Darrick Doerner saw a wave approaching unlike anything they had ever seen before or since.  Doerner was on a jet ski, towing Laird into the wave when the magnitude of the wave hit him: “I towed him onto this wave and it was to the...

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Deep, Long-Lasting, Meaningful Work

By Sean P. Murray

September 6, 2017

5 Min read

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How do some athletes and artists stay dedicated to their craft over many years, even decades? And throughout that time, how do they continue to improve, and turn in game-changing performances and create break-through works of art? In their book, Peak Performance, Brad Stulberg and Steve Magness explore how some individuals are able to find another gear, and develop the focus and dedication to achieve mastery. What is their secret? Well, it’s not really a secret because almost everyone who...

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The Ancient Wisdom of Teams

By Sean P. Murray

September 5, 2017

5 Min read

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For a team to be successful, team members must put the interests of the team above their own. It’s necessary for team members, at times, to sacrifice their ego, play a supporting role, and in some deep sense, care more for the success of the team than for individual achievement and glory. These are timeless truths with roots extending far back to the very dawn of human culture. Cooperation has been reinforced, generation after generation, through the evolution of human culture. Agriculture...

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It’s Not Who’s On Your Team, It’s How You Work Together

By Sean P. Murray

June 27, 2017

4 Min read

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If your boss came up to you today and asked you to form a team for a high-profile strategic project, what would be your first task? If you’re like most people, your thoughts would immediately turn toward whom to select to join your team. After all, we’ve been conditioned to believe that the most important factor for any team is the quality of the players. If you want a super team, fill it with superstars. Just look at the Golden State Warriors. Now suppose your boss gave you a further...

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