Stop Reading the News Flashcards
How should you read a book?
If it doesn’t expand or alter your worldview after 20 pages, stop. For great books, read them twice. The second time will give you 10x the value from the book.
How was Newton as a money manager?
Lost all of his money speculating on the stock market. Stick with your circle of competence.
How does news obscure the big picture?
Specific events without context are like leaves of a tree with no branch/trunk. Information and data without context can improve confidence, but not accuracy or true understanding.
How does the news negatively affect psychology?
Negative information are 2x as impactful as positive into the psychology. Studies suggest negative news impacts you psychologically without any true effect. News leads to stress, stress saps will power, lack of willpower makes us worthless.
How does the news contribute to hindsight bias?
Events are rarely attributable to one specific cause, however this is exactly what the news does. For example, market moves are attributed to singular causes when the reality is complexity.
What happens with the ability to read if you focus too much on the news?
You lose the ability to pay attention to long form content, becoming restless after short periods.
What are the impacts of status on physiology, and how does that relate to the news?
The news disproportionately shows you beautiful and successful people. Naturally constantly comparing yourself to this causes feelings of low status. Low status feelings cause illness , depression, and earlier death.
What is Sturgeon’s Law?
90% of everything published is garbage.
How does news encourage terrorism?
Terrorists terrorize because of the publicity. Rare terrorist events in the EU for example capture all the headlines while much more deadly phenomenon do not because they aren’t sensational.
What did Epictetus say about your attention?
You become what you give your attention to.
What is the best way to reduce anxiety?
Write anxieties down, listing them out. If you can do something about them, create an action plan. If you cannot, medidate on them and release.
How should you read a book?
If it doesn’t expand or alter your worldview after 20 pages, stop. For great books, read them twice. The second time will give you 10x the value from the book.
Warren Buffet quote on Circle of Competence?
Know your circle of competence and stick within it. The size of that circle is not very important; knowing its boundaries, however, is vital.
How was Newton as a money manager?
Lost all of his money speculating on the stock market. Stick with your circle of competence.
How much do people typically waste per year focusing on irrelevant news?
1 whole month. 1 hour a day equates to a whole month a year of 10 hour days wasting time on the news.
