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To Eliminate Undesirable Behavior, You Have to Eliminate The Stimuli That Precedes It
Summary:
Self-control problems require structuring life to avoid stimuli that tempt bad behavior, similar to avoiding walking past a tavern if you're an alcoholic.
Investors can improve mental hygiene by unfollowing negative sources and following those with a long-term perspective to reduce hyper reactivity to market fluctuations. Changing exposure helps in turning down the amplitude of emotions.
Transcript:
Speaker 1
But if you 're an alcoholic, you would be crazy to walk past the tavern and say, i will demonstrate the will power not to walk in. You can't do that, and you know you can't, so you walk on the other street. And that's the kind of governor that people need to put on their behavior. If you know that you have self control problems, you have to structure your life so that the things that tempt you into bad behavior don't get surfaced in your stimuli. And that's very easy for investors to do. If you, if you know you have a tendency toward hyper reactivity to, you know, red arrows pointing downward on stock market displays, then turn that web site off, un follow that person On twitter. Follow people who take a longer term perspective and aren't rattled by this kind of thing. Improve your mental hygiene. You can't turn yourself into someone who's unemotional, but you can turn down the amplitude of your own emotions if you change what your exposures are.
#4 Jason Zweig — Elevate Your Financial IQ
The Knowledge Project with Shane Parrish
The Golden Rule Doesn't Account for Other's Preferences and Interests
The Golden Rule fails to consider individual differences, particularly in power dynamics. It assumes treating others as we want to be treated is ethical, but ignores the possibility that they may have different preferences based on their unique characteristics and circumstances.
Transcript:
Speaker 1
The golden rule does not adequately take into account these differences, especially of power. People commonly say, why is it ethical to treat others as we would want to be treated? They may be different than us and may want to be treated differently.
The Golden Rule
In Good We Trust
Inversion: Avoiding stupidity is easier than trying to be brilliant. Instead of asking, “How can I help my company?” you should ask, “What’s hurting my company the most and how can I avoid it?” Identify obvious failure points, and steer clear of them.
50 Ideas That Changed My Life - David Perell
perell.com
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