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Disagree and commit is a management principle that individuals are allowed to disagree while a decision is being made, but that once a decision has been made, everybody must commit to implementing the decision. Disagree and commit is a method of avoiding the consensus trap, in which the lack of consensus leads to inaction.
The Moscow rules are rules-of-thumb said to have been developed during the Cold War to be used by spies and others working in Moscow.. The rules are associated with Moscow because the city developed a reputation as being a particularly harsh locale for clandestine operatives who were exposed.
It is part of cognitive science, and is a distinct cognitive bias that occurs once a decision is made. For example, if a person chooses option A instead of option B, they are likely to ignore or downplay the faults of option A while amplifying or ascribing new negative faults to option B.
Murphy's law [a] is an adage or epigram that is typically stated as: "Anything that can go wrong will go wrong.".. Though similar statements and concepts have been made over the course of history, the law itself was coined by, and named after, American aerospace engineer Edward A. Murphy Jr.; its exact origins are debated, but it is generally agreed it originated from Murphy and his team ...
Emotional decision-making is a common mistake investors make. Cognitive biases such as herd mentality, loss aversion, anchoring bias and hindsight bias can diminish your ability to make good ...
For example, Judge Richard Posner once remarked that falsus in uno was a "discredited doctrine" based on "primitive psychology". This assertion was not made in relation to fraudulent documentation or a "material" inconsistency; rather, it was based on what the court characterizes as "innocent mistakes, trivial inconsistencies, and harmless ...
Double-loop learning is used when it is necessary to change the mental model on which a decision depends. Unlike single loops, this model includes a shift in understanding, from simple and static to broader and more dynamic, such as taking into account the changes in the surroundings and the need for expression changes in mental models. [3]
With that in mind, here are 3 investment mistakes Buffett says you should avoid in order to secure your fortune for the long term. 1. Speculating instead of investing