Great article on a subjec that needs to be spoken about more openly, deeper and often.
Unfortunately the winner of the Nobel Peace Prize for Econcomics who wrote Thinking Fast and Slow which discusses all the emotional biasis he researched, stated that it's impossible to get rid of cognitive biases that control our decision process. Realization of when they are present is the first stage. Thinking slower and doing third level thinking are other ways. Would love to hear if you have any hacks for that. I like your hour/day rule. I use the impatience rule. When I get impatiend with myself because I am not making a decision I stop, come back in a day, AND start re-reading notes or pertinant data/articles. Thanks Kris!
Thanks Steve, I agree these biases remain with us. It may not be the most practical for everyone, but I find my hack to be a passion for the research and uncovering hidden value in companies. If I come up with a better and more universal hack I'll let you know.
Great article on a subjec that needs to be spoken about more openly, deeper and often.
Unfortunately the winner of the Nobel Peace Prize for Econcomics who wrote Thinking Fast and Slow which discusses all the emotional biasis he researched, stated that it's impossible to get rid of cognitive biases that control our decision process. Realization of when they are present is the first stage. Thinking slower and doing third level thinking are other ways. Would love to hear if you have any hacks for that. I like your hour/day rule. I use the impatience rule. When I get impatiend with myself because I am not making a decision I stop, come back in a day, AND start re-reading notes or pertinant data/articles. Thanks Kris!
Thanks Steve, I agree these biases remain with us. It may not be the most practical for everyone, but I find my hack to be a passion for the research and uncovering hidden value in companies. If I come up with a better and more universal hack I'll let you know.
Great article! I like how you broke it down. Thanks for sharing!
I had no idea investing was so much a psychological game! Good to know.