process
Judgment Over Effort
The rule
Once your money or code does the work, you get paid for being right, not for long hours. A few good calls carry everything.
Where it flips
Valuing good choices can slip into lazy pride, where you skip the reading because 'it is about being right, not effort'. The fix: remember that good judgement comes from years of honest work and learning. The reward is for being right, but being right is earned, not just assumed.
When your choices are made bigger by money or code, the value comes from the right call, not from working longer. One good decision can beat a thousand busy hours. For an investor this is a relief. Your gains over ten years come from a few big choices made well. Which businesses to hold. When to stay calm. Not from how many trades you place. Rushing about often kills the very patience that good choices need.
A worked example
Arjun checks his portfolio once a month and makes maybe three real choices a year. His friend trades every day and works much harder. Yet Arjun's few patient calls grow to more, because he was paid for being right, not for being busy. [illustrative]
How to spot it
- ·few choices, each thought through hard
- ·results do not match hours worked
- ·warning sign: mistaking being busy for making progress
Naval Ravikant · The Almanack of Naval Ravikant