2023.11.29A lot of people with high IQs are bad investors because they have a hard time controlling their emotions

2023.11.29A lot of people with high IQs are bad investors, because they have a hard time controlling their emotions to adapt to the way complex systems work, and they are “thinking the other way around”, and many times the problem will be easier because of this. Charlie Munger’s approach to solving problems is the polar opposite of what most people use in life. Reverse deduction and reverse thinking are two ways to describe this approach. For example, a good way to stay happy is to avoid the things that make you miserable. Munger once gave a talk about Johnny Carson, and Munger said: Carson said he couldn’t tell graduates how to be happy, but he could use personal experience to tell them how to be miserable. Carson believes that there are three things that cause pain: 1) drugs that alter mood or perception, 2) jealousy, and 3) resentment. Carson’s idea is to think about a problem in reverse, to study how to create happiness by thinking about how not to do things that make you miserable. As another example of Munger’s reverse thinking, an effective way to stay smart is not to be stupid. Don’t be stupid, obviously it sounds easier than being a smart person, because you can avoid some stupid decisions based on a few simple principles. Munger also mentioned: "A lot of success in life and business comes from avoiding certain things, such as early death, bad marriage, etc. 02 Thinking backwards is conducive to understanding the essence of thingsThinking upside down is conducive to understanding the essence of things, thus helping you solve many difficult problems. Munger once joked that he wanted to know where he would die so he wouldn’t go there again. He also told the story that I used to give my family little problems, and not long ago I gave them this question: There is a sport in the United States that is a one-on-one competition and has a national championship. There is one man who has won two competitions 65 years apart. Now, please say the name of the sport. I have a son who is a physicist, and his way of thinking was greatly influenced by me, and he immediately gave the answer, and he reasoned like this: this sport cannot be a sport that requires hand-eye coordination, no one can win the national billiards league at the age of 85, and it cannot be chess, because the sport has complex rules and requires quite high endurance. That’s when he thought of checkers, and he realized that even if you’re 85 years old, you can do well in this sport if you have a lot of experience. Undoubtedly, this is the correct answer. If the obvious things that everyone knows are usually wrong, then what is right? In fact, what most people don’t understand or don’t believe in, is often the best. For example, some investment ideas and methods, because these things have not been widely accepted, only those who have enough insight can seize such opportunities. Technical daily line: this station above 37800 stabilized, it is necessary to test the 40000 line of the four-hour line: this should be consolidated for a period of time and charge again, 3-5 days time 15 minutes line: disk operation plan: 37300-37500 more to 39300, 37500 10x short continue to hold, 39300 short to make up a position

Source: Golden Finance