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10 Powerful Lessons of the book “The Art of Thinking Clearly”

| Thread 🧵

 1. Never underestimate the hard work and lower probability of success, just because we are shown more successful people than many more actual failures.
It does not mean, in any way, that you should not dream big. It just says that dont get overawed by the number of success stories you read and assume that success would be easy. No one prints the failure stories.
2. Confirmation bias is the mother of all misconceptions.

It is a tendency to interpret new information so that it becomes compatible with our existing theories.
Warren Buffet has seen people losing money with this because they ignore facts which contradict the theory in the mind of the investor.

Dis-confirming evidence must be seeked out to beat this theory.
3. If you ever find yourself in a tight unanimous group, you must speak your mind, even if your team does not like it, and even if it means risking expulsion from the warm nest.
And if you lead a group, appoint someone as devil's advocate.

He or she will not be the most popular member of the team, but definitely the most important.
4. Induction

Send an email to 10,000 people with stock market prediction by dividing them into 2 groups - telling reverse prediction to each group. Prediction for one of the groups will come true.
Send a new prediction to the 5,000 whom you predicted correctly earlier - again after dividing them into 2 groups...carry on like this, and the last 100 would consider you as a genius. People get inducted into a decision based on history without thinking logically.
5. Loss Aversion

The fear of losing something motivates people more than the prospect of gaining something of equal value.
6. Compounding

When it comes to compounding, dont trust your intuition - you have no idea how powerful it is.
7. It is not what you say, but how you say, that's important.

99% Fat Free product seems more healthy than a product with 1% Fat.
8. If you are not a part of the solution, you are definitely a part of the problem.

There is no 3rd category of passive onlookers.
9. Follow your passion even if you have to do away with part of your income for that
10. Whenever you are dealing with averages, be careful of the distribution behind it.

A Bill Gates monthly income in a group of 50 ordinary citizens can give an extremely misleading average.
Thanks for reading. If you find this thread valuable follow me ( @ajdduggan ) for more content like this.

And retweet the first tweet to share with others:

https://t.co/QYlZjIAGMD

More from Andrew Duggan

Andrew Duggan
Andrew Duggan
@ajdduggan
15 Philosophy Quotes From "Voltaire"

| Thread


1. "The more often a stupidity is repeated, the more it gets the appearance of wisdom."

- Voltaire.

2. "The mirror is a worthless invention. The only way to truly see yourself is in the reflection of someone else's eyes."

- Voltaire.

3. "Anyone who has the power to make you believe absurdities has the power to make you commit injustices."

- Voltaire.

4. "Give me the patience for the small things of life, courage for the great trials of life.

Help me to do my best each day and then go to sleep knowing God is awake."

- Voltaire.
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Andrew Duggan
Andrew Duggan
@ajdduggan
15 Powerful Philosophy Quotes From "Epictetus"

| Thread


1. “Any person capable of angering you becomes your master."

- Epictetus

2. “Circumstances don't make the man, they only reveal him to himself."

- Epictetus

3. “Don't just say that you have read books. Show that through them you have learned to think better."

- Epictetus

4. “There is only one way to happiness and that is to cease worrying about things which are beyond the power of our will."

- Epictetus
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Andrew Duggan
Andrew Duggan
@ajdduggan
15 Deep Philosophy Quotes From “Soren Kierkegaard"

| Thread 🧵


1. "The function of prayer is not to influence God, but rather to change the nature of the one who prays."

- Soren Kierkegaard

2. "There are two ways to be fooled. One is to believe what isn't true; the other is to refuse to believe what is true."

- Soren Kierkegaard

3. "People settle for a level of despair they can tolerate and call it happiness."

- Soren Kierkegaard

4. "Life can only be understood backwards; but it must be lived forwards."

- Soren Kierkegaard
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Andrew Duggan
Andrew Duggan
@ajdduggan
15 Powerful Quotes From Plato

| 🧵Thread


1. “Be kind, for everyone you meet is fighting a harder battle.”

- Plato

2. "Never discourage anyone who continually makes progress, no matter how slow."

- Plato

3. “The price good men pay for indifference to public affairs is to be ruled by evil men.”

- Plato

4. "Love is a serious mental disease."

- Plato
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Andrew Duggan
Andrew Duggan
@ajdduggan
15 Powerful Lessons from the book "Antifragile"

by Nassim Nicholas Taleb

| Thread


1. The book is about decision-making under uncertainty/volatility.

- EVERYTHING either benefits or is harmed by volatility

- The FRAGILE is harmed (think a glass)

- The ROBUST is unchanged (think The Phoenix)

- The ANTIFRAGILE gets better (think The Hydra)

2.

- There is no way to accurately predict WHICH events will occur

- We CAN measure how fragile we are to events

- We CAN take steps to robustify ourselves

- When shit hits the fan, the fragile breaks

- This applies to the economy, politics, health, etc

3. Naive Interventionism

- Systems are COMPLEX

- Most are beyond our understanding

- When we intervene, we introduce potential harm

- These 2nd and 3rd order effects introduce MORE volatility into the system

- This makes systems even less predictable

- STAY in YOUR lane

4. Via Negativa: Removing is superior to Adding

- Less can be More

- Don't add, subtract

- Eliminate the Artificial

- Eliminate the Unnatural

- Eliminate the Unnecessary

Apply these in all areas of your life. When in doubt, SUBTRACT
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Thomas Chua
Thomas Chua
@SteadyCompound
Peter Lynch averaged 29.2% annual return between 1977 to 1990.

His books One Up Wall Street and Beating the Street offered great insights into his success.

Here are my top 10 lessons from the legend:


1. This quote was so good Warren Buffett cited it in his shareholder letter.

“Selling your winners and holding your losers is like cutting the flowers and watering the weeds.”

2. Volatility is the price of admission.

“People who succeed in the stock market also accept periodic losses, setbacks, and unexpected occurrences. Calamitous drops do not scare them out of the game.”

3. On how many stocks you should own.

"Owning stocks is like having children. Don't get involved with more than you can handle."

4. On making mistakes.

"There's no shame in losing money on a stock. Everybody does it. What is shameful is to hold on to a stock, or worse, to buy more of it when the fundamentals are deteriorating."
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Prashanth
Prashanth
@Prashanth_Krish
@PrashPeru88 this book but a older edition
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Plan On FIRE \U0001f1ec\U0001f1e7
Plan On FIRE 🇬🇧...
@PlanOnfire
9 Lessons from 'The Compound Effect' By Darren Hardy

THREAD 🧵


It is Choice, not Chance, that determines your destiny.

The decisions that you make on a daily basis are the building blocks of your reality.

Good Habits Are The Key To Success

If you want to emerge successful, you need to create habits that enforce ethics, discipline and persistence in your life.

Success is achieved through positive, constructive habits.

Failure is the result of negative, destructive habits.

When you get tempted to engage in destructive habits, ask yourself if the thing you want to do is contributing to your success.

If not, replace it with something constructive.

Patiently Pursue Your Goal

Everyone wants overnight success, but that's just not how the compound effect works.

The truth is, we have to be patient.

Maintain your vision, work towards your target and with patience, you shall ultimately achieve your goals.
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Shiromani Kant \u26a1
Shiromani Kant ⚡
@readerpreneur
15 quotes to hit your ego from the book EGO IS THE ENEMY:


1. Wherever you are, whatever you’re doing, your worst enemy already lives inside you; your ego.

2. The ego we see most commonly goes by a more casual definition: an unhealthy belief in our own importance. Arrogance. Self-centered ambition.

3. Ego is when the notion of ourselves and the world grows so inflated that it begins to distort the reality that surrounds us.

4. We will learn that though we think big, we must act and live small in order to accomplish what we seek.
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Universal Mind
Universal Mind
@univ_mind_
10 Powerful Quotes From the Book: "Zero to One"

By Peter Thiel

\\ Thread //


1. “Brilliant thinking is rare, but courage is in even shorter supply than genius.”

2. “Madness is rare in individuals—but in groups, parties, nations, and ages it is the rule,”

3. “The most valuable businesses of coming decades will be built by entrepreneurs who seek to empower people rather than try to make them obsolete.”

4. “If your product requires advertising or salespeople to sell it, it’s not good enough: technology is primarily about product development, not distribution.”
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Unconventional approach of 60-40 RSI and range shift concept.

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Like & Retweet for Maximum Reach.

So, instead of the 70-30 Relative Strength Index,
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#banknifty

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If the breathing is through the mouth instead of the nostrils then the person may live only for two days. The person should take into coignance these signs of the occurance of any sudden death.

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