The Munger Two Step

While most of us make decisions daily, few of us have a useful framework for thinking that protects us when making decisions. We’re going to explore Munger’s two-step process for making effective decisions and reducing human misjudgment.

~ from Farnam Street, https://fs.blog/2013/04/munger-two-step/

Some day I hope to write something as useful at the post I’ve linked to above. I do not hold hope for ever writing anything as directly useful as what Munger had to say, quoted and referred to in the post linked above.

There’s so much wisdom—how to make decisions without losing your shit is life-critical… right up there with knowing how to breath… There’s so much wisdown in that post about predictions and unknown-unknowns and making decisions with uncertain information.

Also, in the realm of unknown-unknowns: I’m sure you believe you know how to breath. Pop quiz: Take a pause and imagine you’re giving a lecture to a bunch of aliens who breath through gills… I’ll wait. How’d you do? Still 100% certain you know how to breath?

I’m not trying to preach to you about, “you don’t know how to breath!” I’m trying to show you—by asking rhetorically about something you certainly do a lot—that “knowing” is really hard.

And all of your deciding stands atop your knowing.

ɕ