How To Think For Yourself (In Investing And In Life)

In this video, I discuss how to become an independent thinker, and how to think for yourself.

No one thinks that they are a conventional, but most people are. Thinking independently is painful, socially discouraged, but well worth the price.

To invest well, you need to skate to where the puck is going, not to where it already is. You need to be able to envision a possible future state of the world, and invest accordingly. If everyone already agrees with something, it is almost certainly already priced into the stock or asset class.

To become a great investor, you need to have an open mind, be intellectually curious, but also intellectually humble. You need to have a way for the market to tell you that you are wrong, so that you don't get stubborn and keep losing money.

Try to read old books and forbidden books, allow yourself to always question conventional wisdom, and give your opponents the benefit of "steel man" arguments, rather than just using "straw man" arguments.

Try to read widely, and not be confined by social media algorithms, which will always serve you up what you want to hear.

And the next time you hear about a new idea or new technology, don't immediately write it off as impossible, weird, or stupid.

Not investment advice! Consult a financial advisor.

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