Navigating Investments: Why The Map Isn't The Territory: Durable Value Ep 78

Listen

Watch

---

In this episode, Ryan and Joe talk about an intriguing philosophical concept relevant to both life and investing: 'The Map is Not the Terrain.' The discussion touches upon creating mental models, the importance of conservatism in investing, psychological biases, misidentification of market cycles, execution friction, and much more.

00:00 Introduction to the Concept

00:30 Mental Models and Instagram Illusions

01:28 Mapping in Investments

02:49 Psychological and Mindset Factors

09:49 Execution Friction

13:25 Market Depth and Tenant Demand

18:12 Future Market Assumptions

21:29 Concluding Thoughts on Maps and Reality