Money and Finance
- Seneca Quote
From Moral letters to Lucilius/Letter 16: You need not wonder at any genius of mine; for as yet I am lavish only with other men's property. – But why did I say "other men"? Whatever is well said by anyone is mine. This also is a saying...
- Keeping It Simple...
Quotes from the section on 'Simplification' in Seeking Wisdom - from Darwin to Munger by Peter Bevelin. "We have a passion for keeping things simple." -Charles Munger "It's amazing how many people even today use a computer to do something...
- Video Summaries Of Peter Bevelin's "seeking Wisdom - From Darwin To Munger"
Links to videos: MainTakeAway: Seeking Wisdom pt. 1 By Peter Bevelin MainTakeAway: Seeking Wisdom pt. 2 By Peter Bevelin MainTakeAway: Seeking Wisdom pt. 3 By Peter Bevelin ……………. Related previous post: 2007 and 2009 Interviews with Peter Bevelin...
- Thomas Paine Quote
“I have always strenuously supported the Right of every Man to his own opinion, however different that opinion might be to mine. He who denies to another this right, makes a slave of himself to his present opinion, because he precludes himself the right...
- Is Thinking Back In Fashion? – By Lane Wallace
Thinking may be coming back into fashion. Never mind the fact that we have a President known for his intellectually rigorous abilities and habits. But three times in the past couple of weeks, I've encountered business people discussing Aristotle....
Money and Finance
The tendency to stop considering other possible explanations after reaching a diagnosis...
The quote below is from Peter Bevelin in his book Seeking Wisdom: From Darwin to Munger. It was in reference to a medical study, but I think it also applies well to investing.
The single most common cause of cognitive-based errors was the tendency to stop considering other possible explanations after reaching a diagnosis.
When forming an opinion on a business or management team, it can be easy to ignore evidence or quit thinking when new information arrives, especially if the evidence contradicts the opinion one has already formed. And it can be easy to think that once an opinion is formed, the work is done and thus the effort to learn more to try and disprove that opinion stops.
- Seneca Quote
From Moral letters to Lucilius/Letter 16: You need not wonder at any genius of mine; for as yet I am lavish only with other men's property. – But why did I say "other men"? Whatever is well said by anyone is mine. This also is a saying...
- Keeping It Simple...
Quotes from the section on 'Simplification' in Seeking Wisdom - from Darwin to Munger by Peter Bevelin. "We have a passion for keeping things simple." -Charles Munger "It's amazing how many people even today use a computer to do something...
- Video Summaries Of Peter Bevelin's "seeking Wisdom - From Darwin To Munger"
Links to videos: MainTakeAway: Seeking Wisdom pt. 1 By Peter Bevelin MainTakeAway: Seeking Wisdom pt. 2 By Peter Bevelin MainTakeAway: Seeking Wisdom pt. 3 By Peter Bevelin ……………. Related previous post: 2007 and 2009 Interviews with Peter Bevelin...
- Thomas Paine Quote
“I have always strenuously supported the Right of every Man to his own opinion, however different that opinion might be to mine. He who denies to another this right, makes a slave of himself to his present opinion, because he precludes himself the right...
- Is Thinking Back In Fashion? – By Lane Wallace
Thinking may be coming back into fashion. Never mind the fact that we have a President known for his intellectually rigorous abilities and habits. But three times in the past couple of weeks, I've encountered business people discussing Aristotle....