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Good Decision Making

“Recognize reality even when you don’t like it – especially when you don’t like it. Above all, never fool yourself, and remember that you are the easiest person to fool.”

Charlie Munger – Vice Chairman Berkshire Hathaway

Good decision making is based on having a solid paradigm based in sound research, valid assumptions and a deep understanding of the arena. Never make a big commitment without having your assumptions, research and beliefs challenged by a respected colleague who understands the arena of your decision. It is far more difficult and costly to unwind a bad decision than it is to invalidate it in the first place. Wanting and hoping for something will not overcome unchangeable facts in your equation.

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