Brian Michael Nelson, CFA, is the author of Value Trap: Theory of Universal Valuation.
“People’s thinking process is too bound by convention or analogy to prior experiences. It’s rare that people try to think of something on a first principles basis. They’ll say, ‘We’ll do that because it’s always been done that way.’ Or they’ll not do it because, ‘Well, nobody’s ever done that, so it must not be good.’ But that’s just a ridiculous way to think. You have to build up the reasoning from the ground up — ‘from the first principles’ is the phrase that’s used in physics. You
Author : Editorial Staff
Related Posts
