Showing posts with label risk judgment expected value. Show all posts
Showing posts with label risk judgment expected value. Show all posts

Tuesday, August 7, 2012

Improving Judgment

Most will admit to a certain degree of forgetfulness, but who will admit to making consistently bad decisions, or to having bad judgment?
·         Seek diverse friends and diverse opinions.
·         Run away when experts agree on something.
·         Validate your convictions, no matter how carefully developed based on best data.
·         Look for input from the odd balls.
·         If everyone were right, we all would be driving Mercedes’s or BMW’s, even Bentley’s.
·         Eradicate every cognitive filter you discover during self-exploration.
·         Excessive optimism makes you take more risks than you should or can afford.
·         What is your Plan “B”?
·         Try not to be just another sheep, if you can, by deciding based on what makes someone else happy.