Excellent Book: Charlie Munger For All Seasons
You’ve got to have models in your head. And you’ve got to array your experience – both vicarious and direct – on this latticework of models. You may have noticed students who just try to remember and pound back what is remembered. Well, they fail in school and fail in life. You’ve got to hang experience on a latticework of models in your head.
What are the models? Well, the first rule is that you’ve got to have multiple models – because if you have just one or two that you’re using, the nature of human psychology is such that you’ll torture reality so that it fits your models, or at least you’ll think it does.
And the models have to come from multiple disciplines – because all the wisdom of the world is not to be found in one little academic department. So you’ve got to have models across a fair array of disciplines.
You may say, “My God, this is already getting way too tough.” But, fortunately, it isn’t that tough because eighty or ninety important models will carry about ninety percent of the freight in making you a worldly-wise person. And, of those, only a mere handful really carry very heavy freight.