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100 Little Ideas
Curse of Knowledge : The inability to communicate your ideas because you wrongly assume others have the necessary background to understand what you’re talking about.
Morgan Housel • 100 Little Ideas
Cobra Effect: Attempting to solve a problem makes that problem worse. Comes from an Indian story about a city infested with snakes offering a bounty for every dead cobra, which caused entrepreneurs to start breeding cobras for slaughter.
Morgan Housel • 100 Little Ideas
Depressive Realism : Depressed people have a more accurate view of the world because they’re more realistic about how risky and fragile life is. The opposite of “blissfully unaware.”
Morgan Housel • 100 Little Ideas
Anscombe’s Quartet : Four sets of numbers that look identical on paper (mean average, variance, correlation, etc.) but look completely different when graphed. Describes a situation where exact calculations don’t offer a good representation of how the world works.
Morgan Housel • 100 Little Ideas
Three Men Make a Tiger: People will believe anything if enough people tell them it’s true. It comes from a Chinese proverb that if one person tells you there’s a tiger roaming around your neighborhood, you can assume they’re lying. If two people tell you, you begin to wonder. If three say it’s true, you’re convinced there’s a tiger in your neighbor... See more
Morgan Housel • 100 Little Ideas
Hanlon’s Razor: “Never attribute to malice that which can be adequately explained by stupidity.”
Morgan Housel • 100 Little Ideas
Dunning-Kruger Effect : Knowing the limits of your intelligence requires a certain level of intelligence, so some people are too stupid to know how stupid they are.
Morgan Housel • 100 Little Ideas
Berkson’s Paradox : Strong correlations can fall apart when combined with a larger population. Among hospital patients, motorcycle crash victims wearing helmets are more likely to be seriously injured than those not wearing helmets. But that’s because most crash victims saved by helmets did not need to become hospital patients, and those without h
... See moreMorgan Housel • 100 Little Ideas
Hedonic Treadmill : Expectations rise with results, so nothing feels as good as you’d imagine for as long as you’d expect.