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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Different Kinds of Information

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MORE IDEAS FROM THE ARTICLE

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 hard copies. Twitter creates 200 billion tweets a year, but it barely existed a decade ago.

A first step when dealing with any kind of information is to separate them into different categories.

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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 information will be useful forever, leading us into paying attention to what in hindsight was short-term noise.

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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.

You may not use the information directly, but the information can help to understand your field better.

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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 important information. The trick is knowing when it is entertainment and when it should influence your actions.

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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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... 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 doesn't directly mean much to you.

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RELATED IDEAS

Some downsides are unavoidable

Life is a little easier if you expect a certain chunk of it to go wrong no matter how hard you try.

Smart people screw up. Good people have bad days. Nice people lose their temper.

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Acceptable Flaws · Collaborative Fund

collaborativefund.com

Decline Explained

Currently, we observe decline all around us, whether it's the stock market, travel, or jobs.

There are three different Types Of Decline: Narrative, Physical and Technical/Legal.


Narrative Decline is when the capabilities remain the same but a narrative shift happens in the things we believe in and subscribe to. Narrative shifts determine whether we neglect, utilize or leverage our assets. Example: The stock market.

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Different Kinds of Decline

collaborativefund.com

Life can be described in just three words: Up and Down. We mistakenly expect life to be consistently Up.

Life, along with all the natural human processes are cyclic.

Example: Personal Energy works cyclically no matter how balanced or imbalanced any lifestyle is.

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On The Cyclical Nature Of Life

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