Chapter
The Importance of Judgment in Decision Making
46:31 - 57:09 (10:38)
Judgment is essential in decision making because it involves analyzing information and knowing when to act on it. Striking a balance between being too sure and too unsure is necessary in making successful decisions.
Clips
Knowing what you don't know is crucial to success and avoiding dangerous situations.
46:31 - 49:23 (02:52)
Summary
Knowing what you don't know is crucial to success and avoiding dangerous situations. Excess certitude can lead to fatal actions, while admitting uncertainty can prevent trouble.
ChapterThe Importance of Judgment in Decision Making
Episode#338: Howard Marks — How to Invest with Clear Thinking
PodcastThe Tim Ferriss Show
In this transcript, Warren Buffett shares that he does not have stylized routines and tries to keep his life calm to maintain his effectiveness.
49:23 - 50:36 (01:12)
Summary
In this transcript, Warren Buffett shares that he does not have stylized routines and tries to keep his life calm to maintain his effectiveness. He emphasizes avoiding negative energy by not getting exercised about what he sees on the news.
ChapterThe Importance of Judgment in Decision Making
Episode#338: Howard Marks — How to Invest with Clear Thinking
PodcastThe Tim Ferriss Show
In investing, it is important to balance between ignoring the possibility of being wrong, and understanding your limitations.
50:36 - 52:39 (02:03)
Summary
In investing, it is important to balance between ignoring the possibility of being wrong, and understanding your limitations. To take action you must have an awareness of your strengths and feel that you know enough.
ChapterThe Importance of Judgment in Decision Making
Episode#338: Howard Marks — How to Invest with Clear Thinking
PodcastThe Tim Ferriss Show
Howard Marks of Oaktree Capital Management explains that investing cannot be reduced to a rule book and successful investing requires superior judgment.
52:39 - 54:44 (02:05)
Summary
Howard Marks of Oaktree Capital Management explains that investing cannot be reduced to a rule book and successful investing requires superior judgment.
ChapterThe Importance of Judgment in Decision Making
Episode#338: Howard Marks — How to Invest with Clear Thinking
PodcastThe Tim Ferriss Show
Judgment is crucial in investing, as it allows investors to make better decisions with the information available.
54:46 - 57:09 (02:23)
Summary
Judgment is crucial in investing, as it allows investors to make better decisions with the information available. There is no one rule or process that works in all circumstances, and superior judgment cannot be attained by everybody.