“Until one is committed, there is hesitancy, the chance to draw back, always ineffectiveness. Concerning all acts of initiative (and creation), there is one elementary truth, the ignorance of which kills countless ideas and splendid plans: that the moment one definitely commits oneself, then Providence moves too. All sorts of things occur to help one […]
“We cannot solve our problems with the same kind of thinking we used when we created them.” That’s a quote attributed to Einstein and the idea behind today’s post. Today, I’ll discuss how to get to the higher level of thinking with which we can solve our problems. Let me explain the low-level and high-level […]
Making a decision is one of the most exhausting mental processes. Making a series of decisions drains your brain and as a result, the quality of your decisions plummet. This phenomenon is called decision fatigue. A successful life requires a lot of quality decision making, but we have a limited capacity for decision making. That […]
Act on an idea even if you aren’t sure you’ll succeed, if it promises secondary benefits such as new ideas, connections, experience, and more courage and self-discipline. Doing nothing is more valuable than distraction and busy work. Activities that have no value not only waste your time, they also waste your attention and mental energy. […]
Your assumptions can make you feel miserable. Your assumptions can also make you feel peaceful. The difference is how well your assumptions match the reality. Loss Aversion Here’s an example. One of our biases as humans is loss aversion. $100 lost hurts more than $100 won makes us happy. That bias is ingrained in our […]
Cherry on top is a concept discussed in the book Business Brilliant by Lewis Schiff. Cherry on top refers to the benefits you receive even if a project fails. If you can’t decide whether to start a project or not, make a list of all the benefits even if the project details. Here are some […]
So are you. So are we all humans. Next time you think someone is acting irrational, remind yourself that we are all irrational by default. It takes effort to overcome our biases and logical fallacies to become rational. Sometimes, being irrational gives us an advantage. Sometimes, it results in us shooting ourselves in the foot. […]
Holidays have been just over and I had some great time with family and friends. I met an old friend in my hometown and most of our conversation was focused on cryptocurrencies. At a certain moment, my friend started to explain his technical analysis on Bitcoin and Bitcoin Cash. My old friend told me to […]
Most of the beginner investors have intuitive assumptions that don’t match the reality of the markets. These intuitive assumptions are part of human nature. We need to let go of these assumptions to improve our results as investors. 1. A good investor must know which asset is going to appreciate or depreciate the most. It’s […]
If you plan to retire sometime in the future, you must start saving and investing as soon as possible. The first few years in investing is spent with learning and gaining experience. That means, you will make some mistakes and lose money. The best way to minimize losses is to start small and start virtual. […]
