Showing posts from December, 2009

Change and Understanding

To change something one must understand it first. Otherwise, the change would be very temporary.

Problem Sovling Checklist

Charlie Munger, one of my heroes, says that smart people are are often wrong because they don't use checklists for decision making. Here is Munger's checklist for problem solving: 1. Decide the "no-brainer" questions first 2. Apply Numerical fluency 3. Invert (think the problem in reverse) 4. Apply elementary multidisciplinary wisdom, never relying entirely upon others 5. Watch for combination of factors- the Lollapalooza effect Munger defines Lollapalooza as the critical mass obtained via a combination of concentration, curiosity, perseverance, and self-criticism, applied through a prism of multidisciplinary mental models.