Naval Judgment Is the Decisive Skill
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Apr 29, 2019 Explore the critical role of judgment in achieving success and wealth. Discover how clarity of thought, often accompanied by a philosophical outlook, shapes wise decision-making. Learn why emotional detachment enhances judgment and why experience is crucial—without it, judgment can fail. Top investors aren’t just financial whizzes; they possess deep wisdom and an understanding of long-term consequences. The discussion reveals that heightened emotions can cloud judgment, making it vital to maintain composure in challenging situations.
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Judgment's Importance
- In an age of infinite leverage, judgment becomes paramount.
- Cultivate leverage early in your career, then prioritize judgment.
Gaining Leverage
- Obtain leverage through permission (managing people, raising capital) or permissionlessly (coding, communicating).
- Demonstrated judgment and credibility are crucial, especially with high accountability.
Buffett's Judgment
- Warren Buffett's wealth stems from his exceptional judgment, not just his capital.
- Even without his current wealth, investors would readily back him due to his proven track record.