What are You Doing to Feed Your Mind?

During this Covid-lockdown, there is more time than ever to focus on a positive mindset. Even if you're working harder than ever, you're not commuting, so no excuses, everyone can find time to feed your mind.

I’m writing this post because I'm curious what my LinkedIn friends are reading and listening to. Please share in the comments: what are you currently reading, studying, or listening to? 

Especially now, if we don't take on the challenge of continuing to grow, and to plan for what the future is bringing, than it is way too easy to get sucked into negativity.

To share my answer: One of the things I’m looking at right now is how to improve my decision-making processes. 

Specifically, I’m making time each day to study cognitive biases, and how they influence our thinking and decision making.

We’ve all heard of many of the better-known cognitive biases. For example, a sunk cost will often influence our decisions moving forward, when it is best to ignore sunk costs and only focus on the best path forward, regardless of past monetary or time expenditures.

So far, my study is up to 35 different cognitive biases.

I’m keeping a list of these cognitive biases in OneNote, and will refer to them, regularly and systematically, in the future.

My goal is to be aware of the cognitive biases that influence my decisions, especially when it comes to important business and interpersonal decisions. Awareness will help me remove the bias from my thinking, and make a more thoughtful, systematized, and rational choice.

What books are you reading or listening to, and what topics are feeding your mind with? Leave a comment!

Stay positive, during this coronavirus pandemic we have an amazing opportunity to grow!

I'll conclude with a great quote from Charlie Munger, the lesser-known partner of Warren Buffet in Berkshire Hathaway:

"Being prepared, on a few occasion in a lifetime, to act promptly in scale, in doing some simple and logical thing, will often dramatically improve the financial results of that lifetime. A few major opportunities, clearly recognizable as such, will usually come to one who continuously searches and waits, with a curious mind that loves diagnosis involving multiple variables. And then all that is required is a willingness to bet heavily when the odds are extremely favorable, using resources available as a result of prudence and patience in the past." Charlie Munger 1996

Keegan McNamara is a real estate investor, developer, and broker. He owns MV Properties, a residential property management and brokerage firm, and McNamara Ventures, a real estate development and investment company. 

Keegan can be reached at [email protected]