,
3 tweets,
1 min read
Read on Twitter
"You've made an enormous commitment to something. You've poured effort and money in. The more you put in, the more the whole consistency principle makes you think, ‘Now it has to work. If I put in just a little more, then it 'all work’. People go broke that way." Charlie Munger
"Wherever you turn this consistency and commitment tendency is affecting you. In other words, what you think may change what you do, but perhaps even more important, what you do will change what you think."
The more public a commitment, the stronger the desire to be consistent.
The more public a commitment, the stronger the desire to be consistent.
"When you pound out an idea as a good idea, you’re pounding it in.” Munger
"All of us want to read new information and have it confirm our cherished beliefs. It is just built into the human system. That can be very expensive in the investment and business world." Buffett
"All of us want to read new information and have it confirm our cherished beliefs. It is just built into the human system. That can be very expensive in the investment and business world." Buffett
