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Kaleidoscope Thinking
Latticework is similar to the prism of a kaleidoscope. If you only have one bead in your kaleidoscope, everything looks the same. The more beads you add, the more images you see with each turn. You can look at the same objects, but see it in many different ways.
Charley Munger and Warren Buffett are so successful because when they consider investing in a company, they slowly turn their kaleidoscopes and see many different images, angles, opportunities, and risks. The outcome is powerful. They can look at the same reality as everyone else, but identify opportunities and threats that others miss.
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An Effective Latticework For Thinking Faster
There are two key components to form an effective latticework that allows you to think faster and more clearly.
- You need to have many mental models from a wide range of disciplines, different ways of looking at the world and solving problems. For example, supply ...
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Having Power: Bringing A Different Perspective To The Table
Historically, power was mostly about controlling access to information. However, the internet has leveled that field. A Google search result can show you the same thing as a CEO. Credentials are devaluing. MIT, Stanford, and other universities share many of their classes online f...
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"Well, the first rule is that you can’t really know anything if you just remember isolated facts and try and bang ’em back. If the facts don’t hang together on a latticework of theory, you don’t have them in a usable form."
CHARLIE MUNGER
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For every question, there is an answer. For every problem, there is a solution. For everything else, there is an explanation.
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Stick to your Circle of Competence
Charlie Munger once commented that "in order to disagree with somebody you must first understand their argument better than they do."
The most common way people lose money is to overestimate how clever they are and how much they know. Even after a fifty-year investing career, both...
Use the Six Thinking Hats Technique
When you only look at a problem from one perspective you can only find a limited number of solutions. That is because your perspective is limiting you to seeing the situation in one way.
By using the six thinking hats technique you can create six different perspectives to see the problem. ...
5 elements of effective thinking
- Understand deeply: Be brutally honest about what you know and don’t know. Then see what’s missing, identify the gaps, and fill them in.
- Make mistakes: Mistakes are great teachers; they highlight unforeseen opportunities and holes in your understanding.
- Raise ...
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