Thought experiment

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 y...

Learning is not as easy as owning a device, internet connection and a page full of articles and videos.

Without a proper strategy, you may know isolated facts about everything, but it won't positively contribute to your future development. Understanding the seven mental mod...

The availability heuristic states that we make decisions and form conclusions based on the most recent information we gathered.

For example, if everybody starts investing in an "innovative" fund, you might do it yourself because of everything you've recently heard. But ...

Hindsight bias is when we see past events as being predictable. But that is because we now know what happened.

When you give feedback to a person about something he did, you know the facts. That means how you frame your criticism can be distorted. You might have done th...

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.

However, common knowledge won't get you far in life. When you want to succeed in life, you want to stand out because you compete ...

This mental model explains that when we have two explanations for the same thing, we should prefer the simpler explanation.

For example, when you're learning how to operate a complicated machine or reading a book in a field where you are a beginner, find the simpler exp...