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Episode 2795:
Nick Maggiulli highlights how IBM's legal team, Cravath, Swain, & Moore LLP, defended against antitrust charges through sheer tenacity and exhaustive effort, demonstrating that success can be achieved by outworking opponents. This brute force approach extends to various domains, including finance, where strategies like indexing and high savings rates can lead to financial stability regardless of market conditions.
Read along with the original article(s) here: https://ofdollarsanddata.com/success-by-exhaustion/
Quotes to ponder:
"They buried us in paper. They produced reams of paper in futile endeavors. We stacked up the paper - it was five or six feet tall!"
"The majority of (actual) wars have not been won with strategy, bravery, training, or superior equipment, but brute force."
"If you think about it, indexing is a brute force solution to the problem of picking stocks."
Episode references:
What It Takes: https://www.amazon.com/What-Takes-Secrets-Greatest-Professional/dp/1118517725
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