There is a quick test that can help you determine if you rely on intuition or reflective reasoning (intellect) when making decision. Answer the following question as quickly as possible: “A bat and a ball cost $1.10 in total. The bat costs $1 more than the ball. How much does the ball cost?” Do you…
This clip has gone viral over the Internet, generating nearly 700,000 views since it was posted. It shows what it would feel like to fly over Earth if you had a spaceship. Watch of for the lightning and thunderstorms. We live on a beautiful planet. The original poster of the video had this to say:…
Wendy’s recent commercial introducing the remade cheeseburger named after founder Dave Thomas is one of the best examples of marketing and psychology I’ve ever seen. It’s brilliant; mental models applied in a constructive way. I’m not going to take the fun out of it, but be on the lookout for some of the clues…
What does it take to be in the top 1% of wealth in the United States? Many of you write me and ask that question, hoping someday to make it into the top 1% of net worth but not sure where that line gets drawn. I thought it might be useful to provide a reference to which I could point people in the future whenever they write, as well as make for some interesting afternoon reading for those of you who are curious about the nature of the economic world in which we live.
Family and friends celebrated my 29th birthday today. Also, the stained glass Monopoly lamp arrived to match the ceramic Mr. Monopoly bank I bought in the middle of night when I couldn’t sleep due to working out too late in the evening and not being tired.
The ceramic Mr. Monopoly bank I bought the other day (er … middle of the night) arrived earlier than expected. I love it. I wish there were Monopoly art and collectibles to the same degree there is with Scrooge McDuck thanks to the work of Carl Barks.
My early afternoon today was spent in a hospital visiting someone very close to me recovering from surgery. As I was looking around at the capacity of the facility, it dawned on me that the quantity of coffee necessary to serve all of these people would require a reconstitution, grind-free system that had a reasonable…
Mental Model: Calibration Errors Calibration errors are when people lack the genetic or cultural ability to calibrate communication based upon the situation, people involved, or other contextual clues. To understand calibration errors as a mental model, it might help to give you three real-world scenarios that would require the observer to calibrate the hyperbole. A…
The key to being fantastic at your chosen field is to reach what Charlie Munger called “testable fluency” in the basics so that you are able to perform the higher ideas like a meastro. This concept is simple: Mozart was able to compose so brilliantly because he could play almost anything by sight or ear.…
We’ve talked a lot about the importance of making sure your actions line up with the primary mission of your life. One way I am able to do that is constantly remember what that mission is by developing main life goals and lesser life goals.