Pragmatic Capitalism "A Critical Omission"

Good piece in Pragmatic Capitalism blog about why critical thinking is so difficult for people.

An excerpt:

Productive critical thinking requires adequate domain knowledge to go along with lots of practice.  Most personal and far too many professional investors have neither. Critical thinking can’t be effectively undertaken in investing or anywhere else unless and until there is sufficient knowledge of the subject matter.  One’s knowledge base provides the foundation of and context for engaging in critical thinking. Critical thinking alone is never enough.

So in essence one needs to gain as much knowledge on the subject matter as possible while trying to filter out all the noise that won't benefit you whatsoever.  This is more difficult that it seems.  How does one know what is beneficial to your your objectives and what isn't if your are not familiar with the subject matter.

What the blog entry implies is that there is a long and arduous road that one needs to take involving much trial and error in order to gain the knowledge and experience needed to be a critical thinker on a subject matter.

Productive critical thinking requires adequate domain knowledge to go along with lots of practice.  Most personal and far too many professional investors have neither. Critical thinking can’t be effectively undertaken in investing or anywhere else unless and until there is sufficient knowledge of the subject matter.  One’s knowledge base provides the foundation of and context for engaging in critical thinking. Critical thinking alone is never enough.
Read more at http://pragcap.com/a-critical-omission#7xs6bqccRJMkYsuH.99

Productive critical thinking requires adequate domain knowledge to go along with lots of practice.  Most personal and far too many professional investors have neither. Critical thinking can’t be effectively undertaken in investing or anywhere else unless and until there is sufficient knowledge of the subject matter.  One’s knowledge base provides the foundation of and context for engaging in critical thinking. Critical thinking alone is never enough.
Read more at http://pragcap.com/a-critical-omission#7xs6bqccRJMkYsuH.99

Productive critical thinking requires adequate domain knowledge to go along with lots of practice.  Most personal and far too many professional investors have neither. Critical thinking can’t be effectively undertaken in investing or anywhere else unless and until there is sufficient knowledge of the subject matter.  One’s knowledge base provides the foundation of and context for engaging in critical thinking. Critical thinking alone is never enough.
Read more at http://pragcap.com/a-critical-omission#7xs6bqccRJMkYsuH.99

Productive critical thinking requires adequate domain knowledge to go along with lots of practice.  Most personal and far too many professional investors have neither. Critical thinking can’t be effectively undertaken in investing or anywhere else unless and until there is sufficient knowledge of the subject matter.  One’s knowledge base provides the foundation of and context for engaging in critical thinking. Critical thinking alone is never enough.
Read more at http://pragcap.com/a-critical-omission#7xs6bqccRJMkYsuH.99