Charlie Munger, at the age of 31, had almost nothing left. His 9-year-old son died of cancer. He stood by the hospital bed, watching the child leave, while also calculating how to pay the medical bills. Marriage collapsed, heavily in debt. It's not a 'low point'; it's being completely emptied out. He had no epiphany, no declaration of rebirth. He just went back to work the next day. As a lawyer. Exchanging time for money. Slowly realizing: this road will not take him away from pain. He started investing. Small real estate, private transactions, any method that makes capital work for him. Others advised him not to take risks:
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🔥We always provide results, fabricating "reasonable" reasons
Have you noticed that regardless of whether the market rises or falls, there's always a perfect explanation after the fact? Behind this is a common cognitive trap—"hindsight bias". Once we know the result, our brains unconsciously alter memories, making us feel like we "should have seen it coming," leading us to overestimate our judgment.
This habit of "storytelling" can trap us in a cycle: using an embellished past "experience" to guide the future, and then continuing to fabricate reasons for new results.
How can we stay clear-headed? You can try a simple method: at the moment of making a judgment, casually note down the main decision-making basis. When you review afterward, what you see will be your actual thought process, not a modified memory. This can help you distinguish between what are true insights and what are merely "reasonable" explanations made after the fact.
Real cognitive upgrades sometimes start by stopping the search for a "perfect explanation" for everything. $SOL {future}(SOLUSDT)