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Being Wrong 

Being Wrong 

It is better than nothing. Being slow leads you nowhere but being wrong while moving fast can lead you somewhere eventually.

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MORE IDEAS FROM THE SAME ARTICLE

Stay flexible and be prepared for a speedy course correction of things that break down with a bad decision.

Get comfortable with uncertainty, and master the art of quickly recognizing, and correcting bad decisions.

It isn't just about making fast decisions.

The challenge is to make informed, high-quality decisions, with inadequate or incomplete data, and do it fast.

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Milton Friedman

"The best measure of quality thinking is your ability to accurately predict the consequences of your ideas and subsequent actions."

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The Regret Minimization Framework

Working in a comfortable and high-paying job in the 90s, Jeff Bezos faced the dilemma of continuing his job or pursue the business idea he had about selling books online.

He posed a self-inquiry: At the end of my life, will I regret not having done this?

This self-inquiry...

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Decision Making Process

The decision making process that Dalio, Buffett and Munger use is:

  1. Make the most rational decisions you can;
  2. Look for psychological bias that may have interfered with making a rational decision; and
  3. Expose your hypothesis to very smart people who have a thoughtful con...

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