Some ideas to keep coming often
An informed world view, or personal orientation, can be derived from the neurological, linguistic and behavioral consequences of acknowledging the inevitable limitations of both differences and similarities
Non-Ergodic : When group probabilities don’t apply to singular events. If 100 people play Russian Roulette once, the odds of dying might be, say, 10%. But if one person plays Russian Roulette 100 times, the odds are dying are practically 100%.
Morgan Housel • 100 Little Ideas
System Justification Theory : Inefficient systems will be defended and maintained if they serve the needs of people who benefit from them – individual incentives can sustain systemic stupidity.
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
Embed future in today. Action bias in here and now. And weave time to unleash compounding. Small steady steps in right direction
Our ‘mind design principle’ for new and more successful mental habits is thus a simple one: because thinking is self-talk, talk and thought are linked. To change patterns of thinking, change patterns of talking.
Rule of 100 : If you spend 100 hours a year which is 18 min a day one a discpline; you'll get better than 95% of the world in that discpline. Consistency is everything.
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
Mild success can be explainable by skill, but wild success is attributable to variance