Logic, reason, and common sense are your best tools for synthesizing reality and understanding what to do about it. - Ray Dalio
Principles are fundamental truths that serve as the foundations for behavior that gets you what you want out of life.
Without principles we would be forced to react to all the things life throws at us individually.
Embrace the fact that you don’t know everything you need to know.
My success has more to do with knowing how to deal with *not* knowing.
Consistently operate with principles that can be clearly explained.
Decide:
1) what you want
2) what is true
3) what you should do to achieve #1 in light of #2
When I’m wrong, I change my mind.
When the facts change, I change my mind.
Wall Street Journal, Jason Zweig wondered about two quotations attributed to Keynes: “When the facts change, I change my mind. What do you do, sir” and “The market can remain irrational longer than you can remain solvent.”
In an e-mail in 2003, Keynes’ most authoritative biographer, Lord Robert Skidelsky, told investment advisor William Bernstein that he believed they were “both apocryphal.” This week I asked another renowned expert on Keynes, Donald Moggridge of the University of Toronto, if he could identify the source of either of the oft-quoted remarks. “The simple answer,” Prof. Moggridge replied by e-mail, “is there is no evidence.”
Critical thinking is clear, reasonable, reflective thinking focused on deciding what to believe or do. It means asking probing questions like “How do we know?” or “Is this true in every case or just in this instance?” It involves being skeptical and challenging assumptions rather than simply memorizing facts or blindly accepting what you hear or read.
Who are critical thinkers, and what characteristics do they have in common? Critical thinkers are usually curious and reflective people. They like to explore and probe new areas and seek knowledge, clarification, and new solutions. They ask pertinent questions, evaluate statements and arguments, and they distinguish between facts and opinion. They are also willing to examine their own beliefs, possessing a manner of humility that allows them to admit lack of knowledge or understanding when needed. They are open to changing their mind. Perhaps most of all, they actively enjoy learning, and seeking new knowledge is a lifelong pursuit.
Critical thinking is fundamentally a process of questioning information and data. You may question the information you read in a textbook, or you may question what a politician or a professor or a classmate says. You can also question a commonly-held belief or a new idea. With critical thinking, anything and everything is subject to question and examination for the purpose of logically constructing reasoned perspectives.
Read More:
https://quillbot.com/courses/effective-learning-strategies/chapter/chapter-7-critical-thinking-and-evaluating-information/
