So often we enter into stressful situations assuming we are as ill-prepared as the scenario in our headline. In fact, there is considerable evidence that we have many more arrows in our quiver than we anticipate.
An important perspective related to decision-making is cognitive dissonance which is generally described as habitual ways of thinking that are negatively biased. The following can serve as a ‘field guide’ of landmines for new and experienced investors and managers to keep in mind.
As an (at least symbolic) statement we have advanced in the war on COVID-19 to the point that we can start to address items other than coping strategies. In these articles, I want to touch on a topic stimulated by feedback from Adrian Garcia who is the highly regarded lead instructor and architect of our Kirchner Investment Academy. Adrian reports that the largest stumbling block for new investor ‘students’ relates to land mines around decision making.
My reference to ‘ridiculous’ in the title is not intended so much in the literal sense of ludicrous as much as the use of simple language with a humorous undertone. My use of the description ridiculous is in the context of something humorous including (at least in my mind) a light description of a heavy topic.
I think we all agree that a clear pathway to both a better business and a more robust life is via creative thinking. Creativity is the Holy Grail in both life and business as it leads to solving difficult problems and also new perspectives on enjoyment.
Are business issues more important than people issues? Could Warren Buffett be wrong? So, why would we post an article that starts by disagreeing with him? Perhaps if only to suggest that even one of the greatest business minds of all times can succumb to a paradox.
In light of the persistence of the current COVID-19 situation, I have chosen (more than usual) to continue to use neuroscience from still another “different” angle.
This is the latest (but almost certainly not the last!) effort to share ideas/resources related to dealing with the impact of world challenges: with the COVID-19 outcome still uncertain – climate issues looming that will likely dwarf COVID-19, all this against a backdrop of social and other inequalities.