Nobel physicist Max Planck gave speech so often that his driver could recite it. He did one day, while Planck, wearing a driver's hat, sit with audience. Came a question the driver couldn’t answer, he pointed at Planck, “Such a simple question! My chauffeur will answer it!” People run under this thinking fallacy confuse the credibility of the message with the messenger. Warren Buffett counters this bias by investing only within what he calls his “circle of competence” – his awareness of what he knows &does not know. Real scholars see their limits, while pundits spin smoke-and-mirror theories.
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Dobelli shared some common thinking mistakes. Knowing these errors won’t help you avoid them completely, but it will help you make better decisions – or at least teach you where you slipped.
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