Entity Dossier
entity

children

Strategic Concepts & Mechanics

Signature MoveOwn Money Only to Follow Beliefs Fully
Cornerstone MoveBuy Up to the Parent's Stake, Force the Conversation
Strategic PatternKravis as Hostile Takeover North Star
Signature MoveExpected Value Before Every Bet
Decision FrameworkIRR Floor of 15% Non-Negotiable
Operating PrincipleIdle Assets as Governance Failure
Cornerstone MoveHunt the Balance Sheet Gap to ¥500 Billion
Capital StrategyChildhood Capital as Compounding Origin
Signature MoveQualitative Read of the Manager First
Relationship LeverageCross-Generation Trust as Deal Currency
Signature MoveDinner Table as Training Ground
Identity & CultureInvestor as Oversight Authority

Primary Evidence

"While deviating slightly from the topic, when I go out to eat with my family, we often play a "meal cost guessing game". It's a very simple game where each participant has to guess the cost of the meal when visiting a restaurant. Each family member must declare their estimated value with at least a 500 yen difference from other participants, and ultimately, the participant whose estimate is closest to the actual amount wins a prize. When we play this game as a family, including me and the kids, we first look at the menu and try to remember the prices of not only what we order but as much as we can. Then, just before paying for the meal, we decide the order by playing rock-paper-scissors, and each of us declares our estimate of the total cost of the ordered meals. Here, there is a rule that the declared estimated amount must be at least five hundred yen different from the other participants. So, it's not just about declaring what you think the amount will be; you can also impose certain constraints on the estimated amounts of those who declare after you, based on the amount already declared by others and the amount you declare. Therefore, each participant considers how far to set their estimated amount from others to increase the chances that their estimate is closer to the actual amount. I believe it's a good opportunity to make children think about the balance between the cost of things and the quality of food and service, and considering how much I expect and how much others might expect helps lay the foundation for deriving more accurate expectations in the future."

Source:Lifelong Investor (translated)

Appears In Volumes