Happy Monday! I released a longer-form piece on my birthday about eating peanut butter, here it is in case you missed it. Enjoy this week’s edition!
Quick read
Other People’s Mistakes // Morgan Housel
George Carlin once joked how easy it is to spot stupid people. “Carry a little pad and pencil around with you. You’ll wind up with 30 or 40 names by the end of the day. It doesn’t take long to spot one of them, does it? Takes about eight seconds.”
Like most comedy it’s funny because it’s true.
But Daniel Kahneman mentions a more important truth in his book, Thinking, Fast and Slow: “It is easier to recognize other people’s mistakes than our own.”
I would add my own theory: It’s easier to blame other people’s mistakes on stupidity and greed than our own.
That’s because when you make a mistake, I judge it solely based on what I see. It’s quick and easy.
But when I make a mistake there’s a long and persuasive monologue in my head that justifies bad decisions and adds important context other people don’t see.
Everyone’s like that. It’s normal.
But it’s a problem, because it makes it easy to underestimate your own flaws and become too cynical about others’.
I try to stop myself whenever my explanation for other people’s behavior – financial or otherwise – is “well, they’re not very smart.” Or greedy. Or immoral. Yeah, sometimes it’s true. But probably less than we assume. More often there’s something else going on that you’re not seeing that makes the behavior more understandable, even if it’s still wrong.
A few things make it that way.
Visual
Somewhere in Holland
Fact
There is no single economic theory that can explain Singapore's economy
Tune
Quote
"Enjoy the little things, for one day you may look back and realize they were the big things" // Robert Brault
Something to ponder
What makes you uncomfortable now will make you comfortable later
Personal update
Had a great birthday week / weekend. Feeling very grateful for everyone in my life. Embarking on a voyage to the Pacific Northwest for a bit to see some family and friends.
Shoot me an email, say hi, let me know if I can help with anything. Thanks for reading. Stay safe out there!
Until next week,