Quote of the day: “Knowing” is Utter — and Dangerous — Fantasy!

As I’m sure some of you’ve noticed, my ‘quotes of the day’ often run in spurts from the same source. I.e., you’re getting slices of whatever I’m currently reading, or of some source that I’ve gone back to; skimming through my old highlights, hoping to find a worthy ‘quote of the day’.

In searching my library — in search of yesterday’s quote — I found my attention, once again, taken by Gawande’s Complications, so much so that I’ve decided to reread it in its entirety.

As I hinted yesterday, virtually every page has me drawing analogies between the business of medicine and the business of investing.

This morning I find myself here on the blog — reiterating the importance of humility — after reading the following:

There have now been many studies of elite performers—international violinists, chess grand masters, professional ice-skaters, mathematicians, and so forth—and the biggest difference researchers find between them and lesser performers is the cumulative amount of deliberate practice they’ve had. Indeed, the most important talent may be the talent for practice itself. 

My point being that one does not practice (in my world it’s study and research) one’s craft unless one — particularly the “elite performer” — possesses great humility. Otherwise — if one truly believed one knew all that needs knowing (utter and, on behalf of clients, dangerous fantasy in my world) — why would one ever feel the need to practice?

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