Essay On Open Mind

Essay On Open Mind-15
If your statement starts with “I could be wrong”…, you should probably follow it with a question and not an assertion.

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I remember when a hedge fund I was on the board of made a terrible investment decision.

We spent a lot of time rubbing our noses in it afterward in an attempt to make sure we wouldn’t repeat the same mistake.

But the advantages of having that courage are massive. The rate at which you learn and progress in the world depends on how willing you are to weigh the merit of new ideas, even if you don’t instinctively like them. What’s more, placing your trust and effort in the right mentor can propel you forward, just as placing it in the wrong person can send you back to the starting point. How do you make sure you’re being influenced by the right group of people?

In his book Closed-minded people are more interested in proving themselves right than in getting the best outcome. They want to show you where you’re wrong without understanding where you’re coming from.

Before you smugly slap an open-minded sticker on your chest, consider this: closed-minded people would never consider that they could actually be closed-minded.

In fact, their perceived open-mindedness is what’s so dangerous.

They don’t want to hear anyone’s voices but their own.

(Dalio offers a “two-minute rule” to get around this: Everyone has the right to speak for two minutes without being interrupted.) This reminds me of the memorable quote by Charlie Munger: “The human mind is a lot like the human egg, and the human egg has a shut-off device.

When one sperm gets in, it shuts down so the next one can’t get in.” It’s our nature to close our minds around our favorite ideas, but this is not the ideal way to think and learn.

Open-minded people can take in the thoughts of others without losing their ability to think well—they can hold two or more conflicting concepts in their mind and go back and forth between them to assess their relative merits. Usually from failure—a crash so terrible they don’t want to repeat it.

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