Eager to be wrong

Livewire
“I think it’s important to review your past stupidities, so you are less likely to repeat them, but I’m not gnashing my teeth over it or suffering or enduring it. I regard it as perfectly normal to fail and make bad decisions. I think the tragedy in life is to be so timid that you don’t play hard enough, so you have some reverses.” - Charlie Munger. Munger has a dictum that he won’t allow himself to hold an opinion unless he knows the other side of the argument better than that side does. Such an unforgiving approach means that he’s not often wrong. It sometimes takes many years to show, but posterity has rarely shown him to be way off. It’s a tough, wise, and correct solution. It’s still hard, though and doesn’t solve the energy-expenditure problem. What can we tell ourselves to encourage ourselves to do that kind of work? The answer would be well-known to Darwin: Train yourself to be eager to be wrong. Learn more about getting it wrong: (VIEW LINK)
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Livewire News brings you a wide range of financial insights with a focus on Global Macro, Fixed Income, Currencies and Commodities.
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Livewire News brings you a wide range of financial insights with a focus on Global Macro, Fixed Income, Currencies and Commodities.
Expertise
No areas of expertise