When facts change, i change my mind

Reading Time: 2 minutes

The British economist said:

“When facts change, i change my mind. What do you do, sir?”

The quote is true to every field of the world and life. From business point of view, when scenario changes, the business strategies need to be change else the business have to shut down the offices. In Investing world, when the facts about your investment changes, you need to re-evaluate your investment thesis. From life point of view, when circumstances changes, you need to change your approach as per the situations.

Charles Darwin said:

“It is not the strongest or the most intelligent who will survive but those who can best manage the change.”


Sir Darwin has roamed the world during his life and collected lots of facts about the nature and species and come out with lots of wisdom. you can read the thought of sir Darwin in his books and in the best book seeking wisdom from darwin to munger by Peter Bevelin.

If you don’t change with the change then you will be erased.
Recently i have read a wonderful and smallest book on change. The book name is “Who moved my Cheese!” by Vermilion. The book is a best read and very well written and explained the change from every aspect of life. The book say:
“If you do not change you can become extinct.”
The book motivates us by asking simple questions as:
“What would you do If you weren’t Afraid?”
The book is a story of four characters. Two mouse and two small people. The mouse identify the change early and start there adventure to find the new cheese. Out of the two little people one Haw is realized the situation and decided to find the new cheese in the maze and another little people Hem is not ready for the change and resist to change. By the four character and the maze the writer is well connected the worldly problem in a beautiful manner and  explained the real world situations like change in business scenarios, change in job requirements, change in relationship and suggested us…what we should do when we smell and identify that the change is happening or happened.
Charlie Munger said on learning that:
I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy does that help, particularly when you have a long run ahead of you.
Why i referred Mr charlie’s quote here because we are discussing about the change, and to change with the change we have to be a learning machine and how we can become a learning machine is by reading a lot of books and by learning from other’s a d self mistakes.
Keep readin and keep learning!
Thanks,
Mahesh

Man with Hammer

Reading Time: 2 minutes
Hi,

In this post, i will share some insights about the quote – “Man With Hammer”

Charlie Munger, the inimitable partner of Warren Buffett, has been saying the same thing for years –
“I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy does that help, particularly when you have a long run ahead of you.”

According to Munger, the most efficient way to learn is vicarious learning. He says –

“I believe in the discipline of mastering the best that other people have ever figured out. I don’t believe in just sitting down and trying to dream it all up yourself. Nobody’s that smart.”

It’s completely fine to use one model to understand the idea, and another to work out the details. But
life becomes difficult when we think there’s only one way to approach it.

Munger prescribes –

“You must know the big ideas in the big disciplines, and use them routinely — all of them, not just a few. Most people are trained in one model — economics, for example — and try to solve all problems in one way. You know the old saying: to the man with a hammer, the world looks like a nail. This is a dumb way of handling problems.”

What Munger is suggesting is that one shouldn’t try to solve problems with the only tool he or she
possess. When you’re trying to make sense of the world around you, don’t try to explain things by
thinking of one reason and then latching on to it. Big outcomes are rarely caused because of one
reason. Ask “what else can cause this outcome.” Get more tools. Learn various mental models.
Worldly wisdom requires the use of multiple mental models to understand the real life experiences.
It’s said that there is nothing more dangerous than a man with an idea especially if it’s the only idea he has. So instead of swinging your single hammer in every direction, you should learn to rely on your toolbox containing multiple instruments i.e., metal models).

How we can get multiple way of thinking is by understanding the different mental models from different disciplines and how we come to know different mental models is by reading lots of books from different disciplines by following great people who are already using this mental models.

Keep reading and keep learning everyday.

Thanks,
Mahesh

Lessons from a tree

Reading Time: < 1 minute
Today I see the above quote on Twitter from Mr vishal khandelwal. The quote teach everything how we should live our life.

The tree teaches us-

Stand tall and proud-
stay with your morals, values ethics and be proud with them. Stay away from wrong things, habits and people.

Sink your roots into the earth-
May Almighty bless you everything , wealth, health, prosperity, fame but always keep your foot on earth, be humble.

Be content with your natural beauty-
Like the beauty of a tree, be pure, be yourself, don’t change yourself for others.

Go out on a limb-
Enjoy your life with full length but don’t forget your loved one’s family, your country. Like a tree go out to the world as a limb but always attached to your roots.

Drink plenty of water-
Water means anything which you admire in your life, I will refer here the knowledge. Read lot of books from different different fields and get wiser daily.

Remember your roots-
Most important don’t forget your roots because without they you are nothing.

Enjoy the views-
Enjoy this journey of your life as a tree.

Nature is the best teacher, it teaches everything that a person want to learn. Keep observing, keep learning and try to plant at least one tree in your life.

Disclosure: I have used the concept and image from safal niveshak by Vishal Khandelwal.

Thanks,
Mahesh