Imperfection, Wolf Packs, a Macro View of Fintech, and Lessons from Jerry Seinfeld

Pete’s Letter: Volume CI, Issue #23

Pete’s Letter is a weekly newsletter for personal growth and trading. Receive it directly in your inbox every Sunday. Subscribe now.

READING

Collaborative Fund | Morgan Housel

Chew on this for a bit: “…species rarely evolve to become perfect at anything, because perfecting one skill comes at the expense of another skill that will eventually be critical to survival. The lion could be bigger; the tree could be taller. But they’re not, because it would backfire.”

Casualties of Perfection

Epsilon Theory | Ben Hunt

In this fascinating dive into human nature, Ben covers the classic thought experiment of the Common Knowledge Game — The Island of the Green-Eyed Tribe, among other things. TLDR: In both markets and in politics, our human intelligences are being trained to be sheep intelligences. Common knowledge is information, public or private, that everyone believes is shared by…