There are such dangerous things that people write, tweet, sms or talk to me about, I keep wondering from where they learn it. I guess it must be from some of the teachers in school, college or worse business schools. If you learn wrong things about physics or chemistry you will learn quickly and will unlearn it. However in investing unlearning is very, very, very difficult.
So here is a part of the unlearning process. Here are things that I get scared about what people tell me.
1. The people in charge have all the answers: Awesome joke. The PM, FM, your teacher, bloggers, – NONE, repeat none of us have all the answers. Go back and see some of the nonsense we have said in the past, and you will know what I mean. Many of you may have more answers than some of us.
2. All people in power will make rational decisions: Ultimately please realize if there is a human being in the decision making process, rationality will be sacrificed for emotions. Ask Dr. Spock!
3. Learning ends at the end of the exam: OMG if you are a kid, please re read ALL your books. IRR, NPV, FV, PV, Compound interest, demand and supply, – everything is important. The Indian MBA syllabus is impressive. We, the teachers lose interest when we see you uninterested. So the delivery and absorption suck. So re read and learn.
4. Once you pass the exam life is cool: If you are in your own business, every day is an exam. Be alert.
5. The best performers follow the rules: sad that they do not, but they do not. Management rewards many rule breakers. Have seen it in the best of companies. They do not openly encourage you to. When push comes to shove, they may even sack them….but till they are around they are rewarded well. Stop cribbing, these are the rules.
6. What you see in print / TV is always true: LOL, you know my views right?
7. There is a clear path to success!! If you keep searching, you will spend your life searching. Create your own path, NOBODY knows it. Some people accidentally tread on it and later on call it strategy. It is mostly luck.
8. What you learn in the classroom is education: Actually i have seen kids getting into good colleges (and later companies) based on their communication skills, organising skills, group and team management skills. So go and organize parties, picnics, shows, ….you really learn budgeting, raising money, getting people to come to one place on time, dress sense, meeting people of substance – NONE of this is actually taught in a classroom. 8. Your education is all that you need for your future career: Not at all. The ability to learn, unlearn, learn, unlearn, network, read and assimilate, that works better.
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