Do you ever look back on your decisions and think, “Why I on earth did I do that?”
We all make bad decisions.
- Buying an SUV that sucks up all your cash
- Starting a relationship without being in love
- Saying yes to a job that you’re not passionate about
- Creating products that no one needs
Shit happens (the above examples are all about me). But the funny thing is that bad decisions never seem like bad decisions at the moment.
I’ve been reading about the decision-making process of Warren Buffet and Charlie Munger, two of the most successful investors of all time.
In Alice Schroeder’s biography of Warren Buffett, I read that Buffet and Munger have a learning strategy that’s based on what you should avoid doing. They identify mistakes and do their best to avoid those mistakes. But as Charlie Munger says: