Value Investing

The Art of Thinking Clearly

 The Art of Thinking Clearly

The Art of Thinking Clearly by Rolf Dobelli:

To avoid frivolous gambles with the wealth I had accumulated over the course of my career, I began to put together a list of systematic cognitive errors, complete with notes and personal anecdotes—with no intention of ever publishing them. The list was originally designed to be used by me alone. Some of these thinking errors have been known for centuries; others have been discovered in the last few years. Soon I realized that such a compilation of pitfalls was not only useful for making investing decisions but also for business and personal matters. Once I had prepared the list, I felt calmer and more levelheaded. I began to recognize my own errors sooner and was able to change course before any lasting damage was done. And, for the first time in my life, I was able to recognize when others might be in the thrall of these very same systematic errors. Armed with my list of almost 100 dangerous thinking traps, I could now resist their pull—and perhaps even gain an upper hand in my dealings. I now had categories, terms, and explanations with which to ward off the specter of irrationality.

Friends soon learned of my compendium and showed interest. This led to a weekly newspaper column in Germany, Holland, and Switzerland, countless presentations (mostly to medical doctors, investors, board members, CEOs, and government officials), and eventually to this book, The Art of Thinking Clearly.

the Art of Thinking Clearly by Rolf Dobelli

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