Confidence is not Competence

"Confidence is not competence, the loudest voice is not the wisest, and all action is not progress." - from the book 'Clear Thinking' by Shane Parish.?

I have encountered overconfidence masquerading as competence many a time -

1. My real estate broker talked about Dubai property prices doubling from the peak in 2007. Unfortunately, I took the bait and made the worst real estate investment ever, and bills keep coming even today.
2. My doctor suggested surgery to remove my thyroid gland as he didn't see any possibility of reversing my hyperthyroid through nutritional pathways. Thankfully, I didn't trust him, and I disliked his attitude, but eventually, I found a way out through the book 'Bulletproof Diet' by Dave Asprey. I no longer have hyperthyroidism, and I am glad I followed my gut instinct about this doctor.?
3. Selecting people based on their interviews alone can be risky, as they could fall way short when the rubber hits the road, or the path gets challenging, testing their capabilities and willingness to learn and adapt.?
4. Mutual Fund or PMS Managers are pompous about their investment strategy during the pitch, only to see the fund underperform for years while they live in denial and refuse to change their processes or learn from their mistakes.
5. Friends talk about subjects like courage, willingness to learn, and having a heart to forgive and forget but do not demonstrate the same in their own lives. Their egos or social defaults take over when situations get heated or complicated due to misunderstandings.?
6. The US Federal Reserve was assertive about inflation being transitory, only to realize that it's sticky and not going anywhere. This eventually forced them to go on the most aggressive interest rate hike path ever, leading to a tumultuous 2022 for all investors globally.?

The common element in all these scenarios has been the confidence displayed, which would make anyone think they are competent enough to be trusted with your time, money, and attention.

But confidence doesn't equate to competence. Our minds are wired to put a confident person on a pedestal and believe every word he says. This comes from our insecurities, our tendency to believe authoritative figures, or our low levels of confidence, and sometimes, it's plain ignorance or laziness on our part.

For whatever reason, our mind trips for a confident person; we must catch ourselves before committing to him/his message and going all in.?

A better alternative would be to take the person through a grading plan in your mind where you keep checking for the following -

• Is he a good listener?
• How does he compare with others?
• Is he a professional, or is he ideological?
• Does his confidence match his competency level?
• Is he consistently confident inspite of the situations surrounding him?
• Is he objective in his expression, or does he get emotionally worked up?
• Does he hesitate to say, “I don't know,” or does he pretend to know everything?

You may have questions to assess someone, and you must.

Only when someone passes these assessments time and again should you equate his confidence with competence. Ensure that his heart is in the right place and that he isn't out there to impress others or seek social validation. Double-check that he is out there to do a great job because it matters to him.

Do it long enough until you are surrounded by people committed to doing their job/task/profession to the best of their abilities and with integrity. This is what the treasure hunt is all about.

When you find this treasure, life will be rich and sweet, just as you have always desired.