Learn more about moneyandinvestments with this collection
How to use storytelling to influence and persuade
How to create a compelling narrative
How to structure your story for maximum impact
Useful, irrelevant, and urgent information
- Useful information when combined with other data: Information is seldom useful by itself. It is part of a bigger picture. It is crucial to have a general idea of the scene to know how the information slots into the larger picture.
- Irrelevant information in all circumstances: You will know it when you see it.
- Information that requires immediate action: This is the rarest form of information.
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MORE IDEAS ON THIS
Knowing how to use information to your advantage
Information is freely available. It is everywhere, making it more difficult to know whether the facts are useful or where they lead.
For example, Yahoo has historical financial statements of every public company. Two decades ago, you had to ask companies to mail you ha...
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Useful but expiring information
When you find information that is important to you, ask: "Will I still regard this information as important a year from now? Five? Ten?" E.g. quarterly earnings are useful, but no one cares about 2010 earnings because they ceased to be useful.
Our default is to think that ...
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Useless but usefully entertaining information
Every field has interesting or entertaining information. It is useless but keeps you focused, and that makes it valuable.
For example, exposure to a field in the form of blogs or CNBC may be the reason to become interested in investing, making it some of the most impor...
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Useful and permanent information
Permanent information teaches you what to do with expiring information.
Knowing that an investment's price fell may be out-of-date information. But knowing the long history and its impact is permanent information that will stay valuable.
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Irrelevant information, but gives insight into how other people think
Irrelevant information may provide small pieces of a puzzle that might increase your understanding of why things happen**.** For example, palaeontology offers insights about how things naturally grow too big for their own good, which has relevance in investing.
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Information that is irrelevant to you directly
... but useful to someone whose decisions are relevant to you.
For example, long-term investors can benefit from learning how and why traders make decisions. Bubbles can destroy long-term investors, and bubbles are driven by traders. It means valuing information that d...
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CURATED FROM
IDEAS CURATED BY
Related collections
Other curated ideas on this topic:
Access to information
When we can all retrieve the same information, the key differentiator is not access to data, but the ability to make use of it, the capacity to translate the available information into useful knowledge.
Short Term and Long Term Game
Sometimes negotiation is not about the immediate goal of the discussion but about the larger picture.
It may be a multi-round war and not just a battle. You may choose to win now but you may risk losing something bigger in the future.
In this scenario, we can make a different choice ...
What is a Chunk?
= pieces of information bound together through meaning/ use
The new logical whole makes the chunk easier to remember & also makes easier to fit it into the “larger picture”.
Just memorizing a fact without understanding is not enough, ...
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