This week we look at mistakes and why we don't learn from them, at least not initially. Good friend James Montier explores the limits to learning we all have and offers some help on how to overcome them. Investors are constantly facing these challenges against their own biases when making sound decisions.
James is the Director of Global Strategy at Dresdner Kleinwort Watterstein, a London and Frankfurt based investment bank. He is also a prolific writer and author of the book "Behavioral Finance - Insights into Irrational Minds and Markets."
Maybe for us to be able to think more "Outside the Box" we must first look within our own "boxes." I hope that you find some insight into your own learning process.
John Mauldin, Editor
Outside the Box
The Limits To Learning
Everybody thinks they are experts at learning. After all, most of us have gone through years of university education and emerged on the other side with a piece of paper 'proving' our ability to assimilate information. However, I'm not concerned with book learning; I am far more interested in learning from our own errors and mistakes or, somewhat more accurately, why we often fail to learn from…