Charlie Munger invokes mathematician Carl Jakobi often. His thought, “Invert, always invert” is valuable for thinking about situations. Sometimes you must look at the negative side of the image. It’s like those images where you cannot see one part because you have focussed on one aspect. I have trouble with the Batman logo.
Daniel Kahneman has pointed out how inverting works. “You can’t study how people remember, but you can study how they forget.”
“You can’t expect to win unless you know why you lose.” Benjamin Lipson
Avoiding loss is often easier than finding a way to win. When you know of the risks and potential negatives, you build a field where success is more probable. Success is never certaint no matter how well you prepare, but playing a game where the odds are more in your favour helps.
Avoiding stupidity is profitable. The trick is to know what’s stupid. A little depth and observing the dark side helps.
There is a story that someone noticed Pablo Casals practicing cello at age 83. He was asked why the most capable cellist ever would spend 4 to 5 hours a day practicing? His reply, “Because I think I am making progress.”
If it is a complex field, you will never stop learning. Acquire the skills to be a good student and never stop using them.
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