I always locate that it’s much easier to make use of the procedure of removal to determine what works by initial finding out what doesn’t operate in the hopes that that remains is the excellent things. As Charlie Munger famously says, ‘Invert, constantly invert.’ I have a whole area of my book dedicated to negative understanding due to the fact that I think this subject is forgotten by so many.
Here’s my checklist of 20 people I would not desire to attach:
1. People that hesitate or unable to admit their limitations.
2. Individuals that are consumed by ideological or political ideas when making financial investment decisions.
3. People that hesitate to state ‘I do not recognize.’
4. People that don’t pick up from their mistakes.
5. Individuals that blame exterior pressures for their failures.
6. Individuals that are incapable to effectively interact their process.
7. People that make guarantees about the markets in the future.
8. Individuals that are a lot more interested in selling you an item than developing a valuable lasting customer relationship.
9. Individuals that attempt to buy the marketplaces as they ‘must be’ rather than exactly how they in fact are.
10. Individuals that are more stressed concerning exactly what others are doing as opposed to concentrating on their very own process as well as goals.
11. Individuals that take the marketplaces directly and let their emotional states drive their decisions.
12. People that think ‘trust me, I obtained this’ is good enough in regards to clarifying their strategy.
13. Individuals that think in conspiracy concepts and believe the computer is bent on obtain them.
14. Individuals that are much more anxious regarding sounding smart compared to actually making money.
15. People that consume over the market’s temporary movements.
16. Individuals that would instead take you playing golf compared to help you resolve your problems.
17. People that make you feel like they’re doing you a favor by letting you spend your cash with them.
18. Individuals that try to impress you with 200 web page pitch books.
19. Individuals that are much more stressed concerning collecting future customers compared to looking after their current ones.
20. Individuals that inform you exactly what you desire to hear rather than exactly what you have to hear.