To understand the bigger picture

There are two key components to form an effective latticework that allows you to think faster and more clearly.

1. 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 ...

We like to be right. And to protect our desire to be right, we look for evidence that supports our ideas and ignore evidence that contradicts them.

But to construct a holistic view about anything, we have to aim to understand the big picture and be particularly critical ...

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...