Pain-Avoiding Psychological Denial Bias
Number 9 Of The 25 Cognitive Biases...
The pain of admitting and accepting certain truths is too much to handle so we continue to deny it and deny it.
Examples Of The Pain-Avoiding Psychological Denial Bias
The death of a loved one or the criminal activity of someone you know) is too much to handle so we continue to deny it and deny it.
We distort our judgement for years until we’re able to bear it.
Take for example the people that were lost on Malaysian Airlines flight MH370 – searches continued for months upon months with the thought that they’re still all alive and intact somewhere.
We know well and good that a human can only survive X amount of time without food and water, let alone if left in the ocean or other unfavourable terrain.
How To Avoid Falling Victim To The Pain-Avoiding Psychological Denial Bias
Look at things for what they are, don't allow your mind to fool you to avoid the pain of the moment - as eventually you will have to.
As the old saying goes... "It is what it is"
Understand like the stoics that there are situations that are beyond your control, what is within your control however is how you respond to said situations.
Want To Know More About Charlie Munger's Cognitive Biases & How To Dominate Life?
I recently purchased Charlie Munger’s flagship book, Poor Charlie’s Almanack – a book filled with hundreds of pages of wisdom from a billionaire and master of mindset and mental frameworks to improve your life..
This book cost me $65 USD. To most this will seem absurd…
“$65 for a book?! What a waste of money”
…these are the same people that spend hundreds of dollars on junk food and alcoholic beverages on Friday and Saturday night.
Delay The Instant Gratification
Don’t adopt the epicurean mentality of “eat, drink and be merry for tomorrow we die.”
You must think long term, you must delay the instant gratification we’re so used to experiencing in this life and invest for tomorrow (stoicism).
“Don’t invest in things that’ll rust, rot or depreciate, invest in things that’ll be worth more later or make you be worth more later”.
The information in this book is worth well over $65 if read and implemented, the information on investing and cognitive biases is worth its weight in gold.
But remember, It’s the application of knowledge that counts, not just the acquisition (read it and take action!)
Check it out and grab your copy of Poor Charlie’s Almanack here.