Your philosophical outlook on life is the foundation upon which you build the system and plan the actions necessary to reach your goals. If you use sound thinking to formulate your personal philosophy, you will lay the bedrock upon which success can build. If, on the other hand, you approach life with a flawed epistemological framework, you are no better off than you would be if you launched a magnificent boat with a cracked hull or built a castle on quicksand. I’m a pragmatically rational person, and when something isn’t working, I realize there is a gap between what is “supposed” to happen and the reality of my experience. When I see this gap start to form, I step back and attempt to address the flaw in my mental model. I also recognize that outliers are part of reality, and I don’t fight reality. Instead, I avoid becoming emotionally entangled in any given situation and learn to incorporate outliers and other eventualities into an improved mode of thought. I am able to do this only because I approach the world with an open mind, the ability to change, and a willingness to accept reality as it unfolds. I urge you to do the same.
KeywordsFinancial Market Mutual Fund Asset Class Sovereign Debt Debt Level
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