The Circle of Competence (Why It’s Important to Know Your Limits). In the circle are the skills you have mastered. Know your circle of competence and stick within it. Focus on your circle of competence in your career. You should not do things outside the circle of your competence. One often feels tempted to broaden your area of competence, but you shouldn’t do it. To master something, a lot of time will be required. It also involves a certain level of obsession. Be realistic and know that you suck at certain things in life. One outstanding skill can trump many mediocre ones.
The Secret of Persistence (Why Bores Are More Successful than Adventurers). Classy investors buy a handful of companies and they keep them. To avoid transaction costs, they buy and sell as infrequently as possible. They take advantage of a long term horizon. Longevity has its benefits as there are many old books which are still bestsellers even today. Our brains do not have instinct for duration. Long term successes are important. One can be more productive in a peaceful environment. Stick to your circle of competence for as long as possible once you have a rewarding hobby. Perseverance and tenacity are highly valuable virtues.
The Tyranny of a Calling (Do What You Can, Not What You Wish You Could). How can find your calling? People believe there is a bud waiting to be formed inside of you. However, the problem will callings are that they are illusions. A calling that makes you happy is false. Don’t go blindly chasing your ambitious goals and feel depressed if you don’t achieve them. We often only see cases of selection bias, where we see people with a calling being successful. Build on the skills you have. The skills you have mastered are the things you enjoy doing most of the time. Other people have got to value your talents.
You can pursue a craft with love, of course, and even with a touch of obsession, but your focus should always be on the activity, the work, the input – not on the success, the result, the output. – Rolf Dobelli
The Prison of a Good Reputation (How to Shift from External to Internal Validation). Bob Dylan didn’t acknowledge his Nobel Prize in Literature in 2016. Grigori Perelman declined the Fields Medal for Mathematics. He is indifferent to what the world thinks of him. As you grow older, you feel that public perception has little to do with the quality of your work. This is the difference between someone with an inner vs outer scorecard. In the past, people were more concerned about their outer scorecard and what others thought of them. Humans spend 90% of the time talking about other people. However, in modern day, what others think of it is far less important. People are approval seeking machines on social media. People are going to comment on whatever please them. Don’t simply crave recognition but rather focus on achieving something.
Would you rather be the world’s greatest lover, but have everyone think you’re the world’s worst lover? Or would you rather be the world’s worst lover but have everyone think you’re the world’s greatest lover? – Warren Buffett
People will gossip and tittle-tattle behind your back. They’ll heap you with praise and drag you into shitstorms. You can’t control it. – Rolf Dobelli
The ‘End of History’ Illusion (You Can Change Yourself – but Not Other People). How much have you changed over the last 10 years? In terms of personality, character, temperament, values etc. When asked, most people feel that they won’t change a lot in the next 10 to 20 years. However, it isn’t true that personalities stop developing over time. The good news is that adults can exercise some influence over changes in your personality. Use your idols and be careful of the people you want to admire. The bad news is that you can’t change other people, not even your partner. Motivation has to come from within. One of the key rules of a good life is to ‘Avoid situations in which you have to change other people.’ Do not hire someone where you have to change their character. Skills can be trained, but attitudes can’t be changed easily.
Oh, it’s just so useful dealing with people you can trust and getting all the others the hell out of your life… But wise people want to avoid other people who are just total rat poison, and there are a lot of them. – Charlie Munger
The Smaller Meaning of Life (Which Goals You Can Achieve – and Which You Can’t). Our lives consist of many facets. It is very difficult to answer the question of ‘Who you are’. You should ask about what your purpose in life is. Stop trying to look for the larger meaning of life. However, you should ask yourself about the smaller meaning of life, your goals, ambitions, mission etc. Life goals are very important and it is important to set a few. Goals are useful because they put you in the mood for accomplishing them. Goals make decision-making easier. Life consists of making forks in the road. Goals need to be realistic though.
There is no discernable overarching purpose – not for humanity, life or the universe. The world is fundamentally meaningless. So stop looking for the “larger meaning of life”. You’re only wasting your time. – Rolf Dobelli
Your Two Selves (Why Your Life Isn’t a Photo Album). You have two selfs, the experiencing self and the remembering self. A human can hardly recall moments in the past. We can’t retain our experiences well. The remembering self has better retention and perhaps you can remember the awesome praline that you ate 24 hours ago. The experiencing self is only concerned with a 3 second interval. Our two selves often give contrasting replies. The remembering self tends to recall happy memories as compared to the experiencing self. Humans suffer from duration neglect. The problem of this that our remembering selves tend to value short-term fun more than long term ones. We need to rely on both selves and cannot simply ignore either one.
Humans remember most clearly the peak of an episode, ie., the moment of greatest intensity, and the end. Hardly anything else filters through into our memories. – Rolf Dobelli
Not even duration matters. Whether you’re on holiday for one week or three, your memory of it will be roughly the same. Likewise, whether you’re in prison for a month or a year, it makes no difference to your memory – the specific amount of time spent behind bars will be forgotten. – Rolf Dobelli
The Memory Bank. How much are you willing to pay for an ideal experience? Imagine what would be your most wonderful experience and jot down a price you would pay for it. How much would you pay for it if you weren’t able to remember it afterwards? To many, experiences only count if you can remember them. This is known as a memory bank. But this is weird, because doesn’t what you experience in the moment count? Animals have moments, but few or no memories. This is when we need to value our experiencing self more. Trying to recall happy moments are good, but shouldn’t you just try to enjoy the present as well? The human memory ain’t great and you will struggle to recall things. Even if we can recall, we can only recall the high point and the ending.
Memories are one-dimensional, shallow, abstract, frequently mistaken, partially fabricated and ultimately unproductive. In short, we overvalue memory and undervalue the experienced moment. – Rolf Dobelli
A life of wondrous yet forgotten moments is still a wondrous life, so stop thinking of experiences as deposits for your memory bank. One day you’ll be on your deathbed, and your account will be permanently closed. – Rolf Dobelli
Life Stories are Lies (Why We Go Through the World with a False Self-Image). We act smart and we need to know a lot via our knowledge of past events. Our brain sometimes does not remember information accurately. It remembers processed data and captures stories more vividly. Stories are things that are made up by humans. By turning it into a story, humans can remember things better. The 3Cs are used, compact, consistent, casual. Adults change as they age, more than they think they will. We tend to think that we are smarter than we actually are. This is known as self-serving bias. The trick to overcome this is to ask your friends what they think of you. Every human has their shortcomings and dark sides and it is important to see things realistically.
The ‘Good Death’ Fallacy (Why Your Final Moments Shouldn’t Worry You). When you have a terminal illness, you won’t have the ability to engage in philosophical reflection. Even if you can remember, chances are it won’t be accurate. Humans suffer from duration neglect. We have trouble evaluating how attractive other people’s lives are. Of course when you are old, you would not have such a good time as when you were younger. The key is just to live well in the present.
More crucial still is that the way you feel in your final moments is totally irrelevant in the context of your whole life. Contemplating your hour of death is unproductive, and will only distract you from the good life. – Rolf Dobelli
Better a life well lived and a few painful days on your deathbed than a shoddy life and a good death. – Rolf Dobelli
The Spiral of Self-Pity (Why it makes no sense to wallow in the past). Self-pity is largely useless and one can enter an emotional whirlpool if sucked into it. It is an unhealthy thought pattern that should be stopped. One has to accept their wrongs and move on. Blaming others has their own expiry date too. Childhood events have little impact on adult personality. You could blame your genes, but that won’t change anything. Life isn’t perfect to begin with.
If you can do something to mitigate the current problems in your life, then do it. If you can’t, then put up with the situation. Complaining is a waste of time, and self-pity is doubly counterproductive. – Rolf Dobelli
Whenever you think that some situation or some person is ruining your life, it is actually you who are ruining your life… Feeling like a victim is a perfectly disastrous way to go through life. – Rolf Dobelli
Hedonism and Eudemonia (How Meaning Can Compensate for Enjoyment – and the Other Way Around). Meaningful activities need not be enjoyable. What should you be focusing your time on? Enjoyable or meaningful activities? Instant gratification can seem animalistic. Striving for the higher pleasures for deemed as Eudaimonia. Every experienced moment has 2 components: pleasurable and meaningful. Good films also need to have a meaningful component. Some graduates are willing to take a pay cut to engage in meaningful projects. One needs to strike a balance between enjoyment and meaning.
The Circle of Dignity – Part 1 (But If Not). ‘But if not’ means ‘over my dead body’. This means issues that are not for negotiation. This is like your individual pledge. It protects you from 3 forms of attack: a) better arguments; b) mortal danger; c) deals with the Devil. You need to know where your boundaries lie. One should have a clearly demarcated circle of dignity. This is the solid ground you can fall upon. It crystallizes with time, around middle age. You need to know which principles you want to defend, and which you are prepared to give up. These are your core principles and beliefs which you need to defend.
The Circle of Dignity – Part 2 (If You Break on the Outside). You have to tell others what you believe in. You have to cherish your own will and keep persevering. People might attack our preferences, principles etc. They might be subtle and we might not even notice them. Each arrow can hurt your self-esteem and weaken your immune system. Verbal attacks can be very painful as well. This is one of the keys to a good life.
The Circle of Dignity – Part 3 (The Devil’s Bargain). What does it mean to sell your soul? Offer each money and the owner weakens. What are the things so sacred to you that you will not sell them at any price? What about your health and your opinions? We have to defend our principles against a) better arguments; b) mortal danger; c) deal with the devil. The trick is to defend your circle of dignity sharply. Everything in your circle is non-negotiable.