Trading Places

Mar 09, 2026 5:50 pm

Folks,


You can work on the system, or more commonly, you can work in the system. Same for businesses and coaching, too.


There is knowledge of the game and knowledge about the game.


The green lumber fallacy, popularised by Nassim Taleb, reminds us that we can know everything there is to know about green lumber— and still not know what’s actually worth knowing.


The story goes that a very savvy trader by the name of Joe Siegel actually thought the lumber was painted green (rather than freshly cut lumber, called green because it had not been dried). The narrator of the story knew all there was to know about the markets and their mechanics, yet went bust. 


For a long time, Kelvin Giles coached kids to run "toes up" from the front of the group. Instructions. Demonstration. Repetition.


Then he found a way to let the task do the heavy lifting for him


Same outcome. Less noise. The knowledge didn't change — what changed was where it lived.


The difference between coaching the skill and designing the conditions for it to emerge.


Here’s to a good week,


Simon


P.S. You might need this; it feels like the first sound of summer.






























  

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