Book Review – Think Again: The Power Of Knowing What You Don’t Know

The title gives away much of what the book is all about. Although it doesn’t reveal any groundbreaking fact or insight that no other books has, Think Again is a helpful reminder that we all need to re-evaluate our thinking and our life regularly.

Adam Grant is a professor at Wharton School of The University of Pennsylvania and majors in organizational psychology. In addition to penning several books, including Think Again, he received his tenure at the age of 28, authored many papers and research in his field, and was the highest ranked professor at Wharton from 2012 to 2018. In terms of credibility, there shouldn’t be much to worry about. Back to the book itself. The tenet of Think Again is to encourage readers to think like a scientist with a great deal of humility. To think like a scientist, we need to avoid being too invested in our own opinions. As scientists usually possess a healthy dose of doubt and tend to review formed opinions regularly with concrete data and new facts, that’s what Adam Grant wants us to do. Whatever we learned needs to be revisited and, if necessary, unlearned. The world becomes increasingly complicated. Virtually all the issues that we discuss in our life are multi-faceted and complex; which requires constant investigation and evolution of thinking when new data and theses come up. Yet, many of us, including myself, succumb to mental laziness. We get stuck in the way we think and the opinions we formed in the long past. Changing our minds is often accompanied by admitting that we were wrong and that we made mistakes. Such an admission can be unpleasant and is not what many of us are willing to do. But Adam Grant, using academic research, argues that we must do the hard thing and constantly challenge/review our opinions, for our own benefits.

About a decade ago, when I was fresh out of school, I held beliefs that would make me ashamed now. Back then, success in life was to get a job at a big company, to have a fancy title and to have a lot of money. That success, in turn, would make me happy. Three years into my career, I got depressed. I resigned from a job that paid me well at the time, took almost two months’ sabbatical and accepted a job in a much smaller job market. My life got better. I learned more about the holes and the shortcomings in my thinking which evolved a bit, but there was still a lot of room for improvement. I was still haunted by the idea of pursuing my passion and figuring out the one thing that I should do in my life, like many of us are by all the self-help books and the speeches by the lucky ones such as Steve Jobs. It took me years to finally be at peace with not knowing what I was born to do in this world. Instead, I am happy with being healthy, working towards a future life with my girlfriend and having the freedom that my parents don’t have. Whether that state of mind will persist in the future remains to be seen. But I guess that’s in line with what Adam Grant talks about in the book.

All in all, a nice read for the weekend. It is simple to digest, but the lessons it brings can be profound. Really recommend it.

“If you’re a scientist by trade, rethinking is fundamental to your profession. You’re paid to be constantly aware of the limits of your understanding. You’re expected to doubt what you know, be curious about what you don’t know, and update your views based on new data. In the past century alone, the application of scientific principles has led to dramatic progress. Biological scientists discovered penicillin. Rocket scientists sent us to the moon. Computer scientists built the internet. But being a scientist is not just a profession. It’s a frame of mind—a mode of thinking that differs from preaching, prosecuting, and politicking”

“Mental horsepower doesn’t guarantee mental dexterity. No matter how much brainpower you have, if you lack the motivation to change your mind, you’ll miss many occasions to think again. Research reveals that the higher you score on an IQ test, the more likely you are to fall for stereotypes, because you’re faster at recognizing patterns. And recent experiments suggest that the smarter you are, the more you might struggle to update your beliefs.”

Excerpt From: Adam Grant. “Think Again.” Apple Books.

“In preacher mode, changing our minds is a mark of moral weakness; in scientist mode, it’s a sign of intellectual integrity. In prosecutor mode, allowing ourselves to be persuaded is admitting defeat; in scientist mode, it’s a step toward the truth. In politician mode, we flip-flop in response to carrots and sticks; in scientist mode, we shift in the face of sharper logic and stronger data.”

Excerpt From: Adam Grant. “Think Again.” Apple Books.

“When we lack the knowledge and skills to achieve excellence, we sometimes lack the knowledge and skills to judge excellence. This insight should immediately put your favorite confident ignoramuses in their place. Before we poke fun at them, though, it’s worth remembering that we all have moments when we are them.

We’re all novices at many things, but we’re not always blind to that fact. We tend to overestimate ourselves on desirable skills, like the ability to carry on a riveting conversation. We’re also prone to overconfidence in situations where it’s easy to confuse experience for expertise, like driving, typing, trivia, and managing emotions. Yet we underestimate ourselves when we can easily recognize that we lack experience—like painting, driving a race car, and rapidly reciting the alphabet backward. Absolute beginners rarely fall into the Dunning-Kruger trap. If you don’t know a thing about football, you probably don’t walk around believing you know more than the coach.”

“It’s when we progress from novice to amateur that we become overconfident. A bit of knowledge can be a dangerous thing. In too many domains of our lives, we never gain enough expertise to question our opinions or discover what we don’t know. We have just enough information to feel self-assured about making pronouncements and passing judgment, failing to realize that we’ve climbed to the top of Mount Stupid without making it over to the other side.”

Excerpt From: Adam Grant. “Think Again.” Apple Books.

“Arrogance is ignorance plus conviction,” blogger Tim Urban explains. “While humility is a permeable filter that absorbs life experience and converts it into knowledge and wisdom, arrogance is a rubber shield that life experience simply bounces off of. Humility is often misunderstood. It’s not a matter of having low self-confidence. One of the Latin roots of humility means “from the earth.” It’s about being grounded—recognizing that we’re flawed and fallible. Confidence is a measure of how much you believe in yourself. Evidence shows that’s distinct from how much you believe in your methods. You can be confident in your ability to achieve a goal in the future while maintaining the humility to question whether you have the right tools in the present. That’s the sweet spot of confidence.”

“Beware of getting stranded at the summit of Mount Stupid. Don’t confuse confidence with competence. The Dunning-Kruger effect is a good reminder that the better you think you are, the greater the risk that you’re overestimating yourself—and the greater the odds that you’ll stop improving. To prevent overconfidence in your knowledge, reflect on how well you can explain a given subject.”

Excerpt From: Adam Grant. “Think Again.” Apple Books.
Excerpt From: Adam Grant. “Think Again.” Apple Books.

“One possibility is that when we’re searching for happiness, we get too busy evaluating life to actually experience it. Instead of savoring our moments of joy, we ruminate about why our lives aren’t more joyful. A second likely culprit is that we spend too much time striving for peak happiness, overlooking the fact that happiness depends more on the frequency of positive emotions than their intensity.”

“At work and in life, the best we can do is plan for what we want to learn and contribute over the next year or two, and stay open to what might come next. To adapt an analogy from E. L. Doctorow, writing out a plan for your life “is like driving at night in the fog. You can only see as far as your headlights, but you can make the whole trip that way.”

Excerpt From: Adam Grant. “Think Again.” Apple Books.

Book Review – The Psychology of Money. Likely the best book I read this year

I waited for this book to come out for a while, and it surely doesn’t disappoint. The Psychology of Money by Morgan Housel is an excellent book on personal finance, our thinking towards money and how that drives a lot of our decisions in life. Not only does the book contain a lot of wisdoms and high quality content, but it is also well and crisply written that you can finish it in a weekend, unlike a lot of other books that are unnecessarily lengthy.

If you care about growing your net worth, investing and making important decisions in your life (who doesn’t?), I really recommend this book. It will transform what you think about money and life. Below are a few nuggets from the book. Have a nice weekend!

The premise of this book is that doing well with money has a little to do with how smart you are and a lot to do with how you behave. And behavior is hard to teach, even to really smart people.

Few people make financial decisions purely with a spreadsheet. They make them at the dinner table, or in a company meeting. Places where personal history, your own unique view of the world, ego, pride, marketing, and odd incentives are scrambled together into a narrative that works for you.

Excerpt From: Morgan Housel. “The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness.”

“At a party given by a billionaire on Shelter Island, Kurt Vonnegut informs his pal, Joseph Heller, that their host, a hedge fund manager, had made more money in a single day than Heller had earned from his wildly popular novel Catch-22 over its whole history. Heller responds, “Yes, but I have something he will never have … enough.”

The idea of having “enough” might look like conservatism, leaving opportunity and potential on the table. I don’t think that’s right. “Enough” is realizing that the opposite—an insatiable appetite for more—will push you to the point of regret.

Excerpt From: Morgan Housel. “The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness.”

Think of it like this, and one of the most powerful ways to increase your savings isn’t to raise your income. It’s to raise your humility.

Be nicer and less flashy. No one is impressed with your possessions as much as you are. You might think you want a fancy car or a nice watch. But what you probably want is respect and admiration. And you’re more likely to gain those things through kindness and humility than horsepower and chrome.

Go out of your way to find humility when things are going right and forgiveness/compassion when they go wrong. Because it’s never as good or as bad as it looks. The world is big and complex. Luck and risk are both real and hard to identify. Do so when judging both yourself and others

Less ego, more wealth. Saving money is the gap between your ego and your income, and wealth is what you don’t see. So wealth is created by suppressing what you could buy today in order to have more stuff or more options in the future. No matter how much you earn, you will never build wealth unless you can put a lid on how much fun you can have with your money right now, today

Excerpt From: Morgan Housel. “The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness.”

Jim Simons, head of the hedge fund Renaissance Technologies, has compounded money at 66% annually since 1988. No one comes close to this record. As we just saw, Buffett has compounded at roughly 22% annually, a third as much. Simons’ net worth, as I write, is $21 billion. He is—and I know how ridiculous this sounds given the numbers we’re dealing with—75% less rich than Buffett.

Why the difference, if Simons is such a better investor? Because Simons did not find his investment stride until he was 50 years old

Excerpt From: Morgan Housel. “The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness.”

Savings in the bank that earn 0% interest might actually generate an extraordinary return if they give you the flexibility to take a job with a lower salary but more purpose, or wait for investment opportunities that come when those without flexibility turn desperate.

If you have flexibility you can wait for good opportunities, both in your career and for your investments. You’ll have a better chance of being able to learn a new skill when it’s necessary. You’ll feel less urgency to chase competitors who can do things you can’t, and have more leeway to find your passion and your niche at your own pace. You can find a new routine, a slower pace, and think about life with a different set of assumptions. The ability to do those things when most others can’t is one of the few things that will set you apart in a world where intelligence is no longer a sustainable advantage

Excerpt From: Morgan Housel. “The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness.”

The idea is that you have to take risk to get ahead, but no risk that can wipe you out is ever worth taking. The odds are in your favor when playing Russian roulette. But the downside is not worth the potential upside. There is no margin of safety that can compensate for the risk.

Room for error does more than just widen the target around what you think might happen. It also helps protect you from things you’d never imagine, which can be the most troublesome events we face.

Excerpt From: Morgan Housel. “The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness.”

Don’t judge a person for his/her broken English

I had lunch with a friend whom I met in college today. It has been a while since we met and the meet was pleasant. In addition to catching up with what the other was doing, we touched upon what would seem to be quite a deep topic for lunch, but you could tell that we were close enough to open up on it.

Long story short, I told him the last time we met that I somehow felt looked down up on by Americans because I am Asian, because I don’t look big enough and because I don’t speak English like a native speaker. I have been trying hard since I was 16 and I wish I could, but the fact is that even though I speak the language well enough to get me a job and two Master’s degrees, I don’t talk like a native speaker.

The friend brought it back today. He talked about his encounter with a French engineer who uprooted his life back home to come to America to have a better career and life. The French guy doesn’t speak English well, said my friend, but my friend admired the courage taken to go to a foreign country alone, as he once told me. My friend said that the biggest lesson he had in the last few years was to learn that it wasn’t easy for others to come to the US and that no matter how good or bad someone’s English is, the effort to speak the language is already admirable and it shouldn’t be the basis on which judgement is passed.

As an immigrant, of course, I understand the sentiment, yet it is great to hear it from my friend. But if I have to be honest, I don’t use my inability to speak English natively as an excuse. To me, if I succeed, good. I did put in the work, but I was lucky as well. If I fail, well I was just not good enough. Coming here to study and work is a game. I chose to participate in that game and it just doesn’t make sense to say that my failure is justified because the rules are not in my favor. Nonetheless, I am happy to hear that from my friend and proud to have him as a friend.

For the compassion and humility, I have learned a great deal myself from learning technical topics such as coding and IT. I am always a believer in the notion that we all should try to find answers on our own first before asking questions or for help from others. It matters more to me that a person actually tried on his or her own first than whether he or she succeeded in finding the answer. But admittedly, I easily got irritated. I was arrogant. I got annoyed whenever I thought people asked too easy questions.

Since learning how to code, I have realized that I was…well, an asshole. Code is very binary. It either works or it doesn’t. There is nothing in between. When trying to find answers to my coding problems, I encountered numerous times guys who were better than me, but gave replies that asked more questions than answers. Some guys on StackOverflow or at school answered, but in a way that you couldn’t fathom unless a significant amount of time is spent on that or the person elaborated more.

When I was still an intern at an IT company, all the technical details and jargon floating around the office were initially another language to me. I had to, if I am honest, disturb some engineers in the office to help me understand even the basic concepts in their mind. I told them: “please speak English to me. I am dumb. Dumb it down for me”. I am glad that they did because it helped me tremendously then, now and in the future I believe.

Since then, I have learned the value of humility and compassion more. I have consciously made an effort to be very specific with words and visuals when helping others. I have consciously tried to be patient and understanding that the person processes information differently than I do and that I used to or still am in that position.

Inferiority and Superiority Complexes

The dynamic between inferiority and superiority complexes has been on my mind for quite some time, but the book “the courage of being disliked” articulates it better than I ever could. I cannot recommend this book enough. It can be a life changer. Read it if you have time and want to have a better life.

Everyone has the feeling of inferiority, one way or another. There is nothing wrong with it. It is desirable that one uses the feeling of inferiority to drive actions and growth. The inferiority complex refers to the blaming mindset. For instance, I was born in a poor family and uneducated. Therefore, I couldn’t succeed. This “cause and effect” mentality is detrimental to one’s mental health.

A long period of enduring the inferiority complex leads to a superiority complex or a fabricated/borrowed feeling of superiority. Specifically, one “borrows” superiority from using a luxury brand, being associated with a famous person or boasting one’s achievements. Other examples can be using jargon or big empty words. The book quoted Alfred Adler, a philosopher whose credit seems to be less than what he deserved: “The one who boasts does so only out of a feeling of inferiority”.

I used to fill the hole of my inferiority complex with a superiority complex in the past. I, for sure, still do to some extent nowadays. Fortunately, I have tried very hard and consciously to use my feeling of inferiority to drive my personal growth and avoid living on someone’s value systems or borrowed superiority. I have made an effort to play down whatever I do, keep the low profile, keep my head down and just do my own things.

Unfortunately, it may be a bit tricky and difficult in a society drunk with superiority complex. In the past not so long ago, my friend recommended me to apply for a position in her team because she knows what I can do and that the company can be a good fit for me. I sent my resume. My friend, after two weeks, came back and was mad at me. She said that the hiring manager in her team would want to see me boast more on what I had done and that I needed to make the resume longer with more boastful statements.

One incident doesn’t represent the majority, but it would be naïve to think that it is not common. It makes the task of balancing it out tricky. There is no hard-and-fast rule on this. But I think it’s important that we are aware of these complexes and the practical consequences.