Just like Buffett, a free thinker can use the three buckets to make better judgments. They put every investment decision into one of these three imaginary buckets. The third bucket is “too hard to understand” investments like Google, Facebook, and Bitcoin. Bucket two is for all decisions they reject and “won’t buy” investments like gold and other metals. Bucket one is for all decisions they accept to “buy” investments like Coca-Cola and See’s Candies. Warren Buffett and Charlie Munger manage a multi-billion dollar investment company, and they use three imaginary buckets for each investment opportunity to make a balanced decision. Buffett’s Three Buckets to Avoid Rash Decisions Let’s explore withholding judgment further. Until they have those reasons, they withhold judgment. Because free thinkers are committed to knowledge not mere belief, they don’t accept or reject a claim until they have good reasons to think it’s true. You can believe that 2+2=5, but you can’t know it. They’re committed to knowing what’s true, and knowing something involves more than merely believing it.įor one thing, you can only know what’s true.
Unlike people who rush to accept or reject the claims they hear, free thinkers don’t. A free thinker is committed to knowing and understanding what’s true.
Rash decisions for free#
Withholding judgment is the default attitude for free thinkers. Instead, withhold judgment (perhaps indefinitely) until decisive evidence becomes available. Until you have that, don’t make a judgment. To make good judgments, you first need to assess the situation, and that means you need to get hold of good evidence about it. How did two US Senators get fooled by Smollett’s claim?Ī simple explanation: They made rash decisions and rushed to judgment. No one should have to fear for their life because of their sexuality or color of their skin…” This was an attempted modern day lynching. I’m glad he’s safe…”įuture Vice President Kamala Harris, then a Senator from California, tweeted, “Jussie Smollett is one of the kindest, most gentle human beings I know. Senator Cory Booker from New Jersey tweeted, “The vicious attack on actor Jussie Smollett was an attempted modern-day lynching. Smollett was eventually charged with 4 felony counts for filing a false police report.īut before that happened-in fact, before the police investigation even began, two United States Senators weighed in. The police investigated and determined that Smollett had paid two actors $3,500 to stage the assault. Smollett, who is a black gay man, alleged that the men had shouted racial and homosexual slurs at him, had poured a chemical substance on him, and had put a noose around his neck. In January of 2019, an actor, Jussie Smollett called the Chicago police to report that he had been assaulted by two white men in the early morning.