Ideas from books, articles & podcasts.
We think we know much more than we really do.
Warren Buffett and Charlie Munger developed the Circle of Competence. This mental model helps define what you know and what your limitations are. It enables you to avoid making decisions about subjects you don't fully understand.
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Common knowledge tries to describe the things everyone knows. For example, knowledge about money, that our planet circles around the sun, that 1 + 1 = 2.
This mental model explains that when we have two explanations for the same thing, we should prefer the simpler explanation.
The purpose of the thought experiment is to delve deeper into a given field to improve your knowledge, uncover what you don't know, and strengthen your understanding of the world.
The availability heuristic states that we make decisions and form conclusions based on the most recent information we gathered.
Learning is not as easy as owning a device, internet connection and a page full of articles and videos.
Hindsight bias is when we see past events as being predictable. But that is because we now know what happened.
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I have always been fascinated by mental models. The same way scientists are looking for a theory of everything, I sometimes wonder if there is a universal theory of the mind. An all-encompassing, coherent framework that would fully explain and link together all aspects of our biology and psychology.
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