Humans are good at learning the wrong lesson

"We have a remarkable ability to learn from others and yet show an incredible disinclination to do so" // Douglas Adams

It is important to learn from other peoples' mistakes and your own — it is much easier to learn from your own

The human mind is very good at "other"-ing, we consider others' mistakes dispositional. We attribute others mistakes to disposition and our mistakes to circumstance.

• When someone yells at a waiter we say "wow that person is rude"
• When we yell at a waiter we say "wow I am having a bad day"

We make excuses for ourselves and it hinders us from learning

"We are great at seeing the flaws in others and terrible at seeing the flaws in ourselves"

We must come to the realization we are just as likely to be prone to mental biases

We rely too much on the will power of our future selves — "I'll sell this stock when it gets to $x"

"If investing is interesting, you're doing something wrong"

If you can't describe what you're doing as a process, you don't know what you're doing

The risks and rewards that exist in today's world are far different than the ones we were wired to deal with

Investing is a way to understand the human condition — making decisions about risk and reward over time

Being a good investor isn't about intelligence it is about character

The human mind has no greater ingenuity than convincing ourselves we are not at fault for a mistake

Anyone who hasn’t made a mistake either hasn’t done anything or is lying

If your life becomes about getting other people to change their minds you will live w miserable life

We should work on gradual mind change rather than large scale