Twaddle Tendency Bias
Number 20 Of The 25 Cognitive Biases...
The twaddle tendency is essentially the performance of time wasting activities as a result of confusion.
Examples Of The Twaddle Tendency Bias
Munger gives the example of a honey bee, once it finds nectar it communicates to the other bees the location of the nectar – when it can’t find nectar instead of retreating to the hive it returns to perform an incoherent dance to the other bees as it has no means of communicating what it has (or rather hasn’t found).
How To Avoid Falling Victim To The Twaddle Tendency Bias
Don't spend your time on nonsense.
Have an end-goal in mind and take the necessary actions required to achieve the goal, however don't be so rigid in your plan to get there... "there is more than one way to the top of the mountain"
Don't twaddle with the actions you're taking,. if they're not working then change it up and find what does work.
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!)