ONE Powerful HACK You can Copy to Improve your Life [Mohnish Pabrai, Naval Ravikant]

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👨 Mohnish Pabrai
Mohnish Pabrai is a very well-known investor and follower of the investment style of Warren Buffet and Charlie Munger. He has been a successful investor since he started in 1995 and currently manages around 600-700m$ in his fund "Pabrai Fund" with a focus on global public equity. He also started the non-profit foundation "Dakshana" in 2008 to coach smart kids (in a distressed economic situation) to pass the university entrance exams for IT and Medicine in India.
👨 Naval Ravikant
Naval is an entrepreneur and angel investor, a co-author of Venture Hacks, and a co-maintainer of AngelList.
★ Sources:
- Source 1: • Mohnish Pabrai’s Q&A S...
- Source 2: • Naval Ravikant | Rule...
📝📝📝📝📝 Quotes Collection 📝📝📝📝📝
"If you cannot decide, the answer is No." - Naval Ravikant
📝📝📝📝📝 Notes 📝📝📝📝📝
--- Mohnish Pabrai ---
- Principle: Hang out with people better than you, and you will get better.
* There is a "gravitational pull"
- How can you know if someone is better than you?
* Warren Buffet and Charlie Munger have a powerful Hack to apply this principle...
** Only pick the obvious instances (people that are undoubtedly better than you).
"If you cannot decide, the answer is No." - Naval Ravikant
*** Benefits:
**** You don't need to be a good human judger, you just pick from the few people that seems obvious to you that they are great.
**** If you only pick the obvious instances, the risk of picking someone worse than you is very low.
*** The process discriminates massively, but is rational to do it...
**** There are so many people (and good people) in the world. And we only need to choose well on a an infinite small percentage of that population.
(In the next part, Naval exposes a more generalized Hack to Buffet's Hack, and how we are wired to instinctively not follow this model)
--- Naval Ravikant ---
(Picking Nuggets note: Naval follows this same model, but in a more general way towards any important decision...)
When making an important decision...
- If you cannot decide, the answer is No.
(Picking Nuggets note: A more generalized Hack to Buffet's Hack)
* Reason: Modern Society is full of options.
** Instances:
*** The internet connects us to almost everyone in the world.
*** There is a huge number of careers available.
* Beware we are biased...
**We are not biologically prepare to act properly from current reality.
**** In our evolution, we couldn't afford to just effortlessly disregard a given choice.
📝📝📝📝📝 Reflections 📝📝📝📝📝
Lesson :
* When considering an important decision and there are many options, mistakes of commission matter. Whereas mistakes of omission are irrelevant.
It was also inspiring to me when I watched Mohnish's display of humility and humor, when he argued that one day Charlie and his friends will find out that they made an error of judgement when they included Mohnish in their peer group. I think this is definitely a core trait of any high quality person (not taking yourself so seriously and being humble).
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-------- Time Codes ----------
0:00 - Mohnish Pabrai on Warren Buffet & Charlie Munger's Hack to choose high-quality people
4:27 - Naval's generalization of this Hack (Replaying part of Episode released on 31/08/2021)
6:45 - Mohnish on Charlie Munger's capacities and discipline
9:06 - Reflections

[@lohalaat4426]

Man I am always with you. Thank you for adding values in my life. Just follow your own path of creating. Don't listen the audience. You are unique. Thank you for giving precious notes . Love 😍

[@PickingNuggets]

Thats beautiful man thank youu ❤

[@aloevera7422]

For NNT nerds, it’s positively convex to hack social networks by only teaming with “f yeah” people and ignoring everyone else including heck no people and indeterminate randoms

[@mirzah.5821]

Great video and thoughts. Thank you.

[@PickingNuggets]

Thanks !!

[@albeit1]

The humble person believes they are still climbing 🧗‍♀️ The non-humble person already KNOWS they couldn’t possibly be any better than they are. And both are correct.

[@Alphfirm]

Dope, your videos are so valuable. The visuals and thumbnails are never very exciting haha, but I always learn important points

[@PickingNuggets]

hahah thank you !! Glad they are being valuable to you :)

[@Gohans1107]

Picking nuggest is fking unique, keep going!

[@PickingNuggets]

thank you 🙏🏻

[@aryanmaheshwari2613]

Where do you reside mate? Need help if you're in the US

[@tellmebaby183]

Brutal honest

[@ChristopherCopeland]

Thank you for these videos! Brilliant premise for a channel. One thought if I might add a critique, it would be really wonderful if you normalized the audio in your editing software before you export the video. Pulling this type of raw audio means that people are moving in and out from proximity to their microphones and speaking at different volumes, so auto-leveling the speaking volume will improve the listening experience dramatically. Thank you!

[@PickingNuggets]

thank you!! And for the feedback!

[@ChristopherCopeland]

@@PickingNuggets thank you for hearing me out! 🙏🏻 and again for the record, I don’t want my feedback to overshadow that I’m very grateful to have access to these selections. It’s only because I actually enjoy this channel that I say anything 😄

[@PickingNuggets]

@@ChristopherCopeland Thank you again Christopher! Your feedback couldn't be farther from overshadowing anything, I'm very grateful for it. I was not even aware you cold equalize the audio, now im implementing it :)

[@gianlucalepiscopia3123]

yes, hang out with people better than you without telling this to them otherwise they will not hang out with you anymore

[@didafm]

The problem is to hang out with people better then you, you have to have pretty amazing social skills.

[@deanarvin]

Which makes it obvious the primary thing one should look to improve.

[@kapilchaudhary8702]

Plus a door to get in that circle of what you want to be. Introverts are only been heard by actions mainly.

[@yeatdagoat173]

a hack is to listen to a podcast of a person with amazing social skills. i listened to comedians cuz i would assume comedians are the highest level of socially skilled individuals and now i can basically make ppl laugh at will. laughing is just more of an energy thing than the words you actually say

[@dmunoz33]

Hanging out with people better than us is not ethical because we are causing them to be worse. In fact if they are better than us they should know better and not hang out with us.

[@davidnguyen5936]

Not true. People can be better in different ways, so two people who have different traits that they are better in that the other values more will think that the other person is better when they are on the same "level." It's not an absolute sense of better, but if you *think* someone is better in some way, which is very subjective

[@xtra_612]

I don’t know if you are serious or not ! Bro you are great at coding but ok as a marketer, dees partnering with a great marketer and ok coder will help the two of you? Yes or yes ?

[@CommentNeo]

Exactly my thought. What if the people better than us also watched this video ? They will never hang out with us :)

[@sieugiatri6740]

không chắc chắn là có thì câu trả lời là không charlie đập vào não tầm 400 quyển sách mỗi năm hơn một cuốn sách mỗi ngày tìm ra các lỗ hồng về tinh thần con người

[@PPCCO.]

There is a penalty for missing out on talent lol. Ask the Fortune 50's