{"id":969621,"date":"2013-05-22T12:13:00","date_gmt":"2013-05-22T06:43:00","guid":{"rendered":"http:\/\/stockviz.biz\/index.php\/?p=969621"},"modified":"2013-05-22T12:37:21","modified_gmt":"2013-05-22T07:07:21","slug":"grit-rules-and-determination","status":"publish","type":"post","link":"https:\/\/stockviz.biz\/index.php\/2013\/05\/22\/grit-rules-and-determination\/","title":{"rendered":"Grit, Rules and Determination"},"content":{"rendered":"

Francisco Dao has an interesting post over at Pando Daily<\/a> about what sets apart dreamers from successful people.<\/p>\n

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In study after study, it\u2019s been shown that discipline and impulse control are the primary traits of successful people and the best predictor of future achievement. In contrast, unwarranted, overinflated self esteem is often a sign of future failure. Compared to discipline, even legitimate measures of intelligence have very little bearing as predictors of success.<\/p><\/blockquote>\n

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Discipline is hard. And trying to be dispassionate about the decisions you take is harder. In fact, successful people try and reduce the number of decisions they take daily. For example, US President\u00a0Obama has tried to eliminate the trivial decisions that most of us face on a daily basis. Michael Lewis, who profiled the president for Vanity Fair<\/a>, explains that:<\/p>\n

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The president started talking about research that showed the mere act of making a decision, however trivial it was, degraded your ability to make a subsequent decision. A lot of \u2026 the trivial decisions in life \u2014 what he wears, what he eats \u2014 [are] essentially made for him. He\u2019s actually aware of research that shows that the more decisions you have to make, the worse you get at making decisions. he analogizes to going shopping at Costco. If you go to Costco and you don\u2019t know what you want, you come out exhausted, because you\u2019re making all these decisions, and he wants to take those decisions out of his life. So he chucked out all his suits except his blue and grey suits so he doesn’t have to think about what he\u2019s going to put on in the morning. Food is just arranged for him and he\u2019s not making any decisions about what he\u2019s eating. What most people spend most of their life deciding about, he\u2019s had those decisions are removed from his life. He does this so he creates an environment, a mental environment, where he\u2019s got full energy for the decisions that are really important decisions.<\/p><\/blockquote>\n

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The take away: follow a routine that reduces the number of decisions you take. Have rules that prevents you from being impulsive. And most importantly, invest without emotions.<\/p>\n

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Source:
\nThe importance of grit, rules, and discipline<\/a>
\nObama\u2019s Way<\/a><\/p>\n

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