In this episode, Scott Becker explores the power of gut instincts in decision-making.
Chapter 1: Who is Scott Becker and what is this episode about?
Chapter 2: What inspired the discussion on gut instincts?
This is Scott Becker with the Becker Private Equity and Business Podcast. So today's discussion is called Following Your Gut Instincts. So this is at least inspired in part by a tweet we saw yesterday by someone named Du, D-U. So you never know on Twitter who's actually a real person who's not. But I love the tweet, and I thought it's right on so many things.
Chapter 3: What does the influential tweet say about decision-making?
Let me tell you what the tweet says, and text me if you want the full tweet in writing, but it's also in the newsletter and LinkedIn today. The right decision is always the one you can't explain. Too much analysis, too much justification, you're forcing it. Live in the city, marry the right person, pursue the idea that allows you to think less.
Chapter 4: Why should we prioritize emotional pulls over mental pushes?
Make life easier on yourself by prioritizing emotional pulls over mental pushes. And I think this is so applicable in so many ways. Sometimes you know you're getting into a project or a concept or going down a line that you know doesn't feel right, and you probably should follow your gut instinct.
Chapter 5: How do gut instincts play a role in investing decisions?
So much of investing is this mix of your gut and your caution versus what your broker or advisor says in terms of asset allocation and so forth. And you got to hit this somewhere in between between your gut tells you to do unless your gut is insane and what your broker tells you to do, which is often too aggressive for a lot of us.
So this concept of trying to hit it down the middle and follow your gut is so important. I know my best decisions in joining my second law firm that I'm still at 30 years later was following my gut to that law firm and feeling comfortable like it would be a good choice. So many of my best decisions are incremental ones, doubling down, doubling down on things that are working.
My worst choices, when I get excited by an extraneous pull and sort of go down a direction I shouldn't go down or just not a worthwhile direction and a time-wasting direction. Another example is, situations where you could put this into almost anything you want, but the impulsive decision to do a certain thing versus what I know feels right in my gut.
In any event, I love this concept of following your gut, listen to your gut, and I think it's a perfect metaphor for the stock market. There's economic analysis, optimal analysis, and there's behavioral analysis. You have to hit it somewhere down the middle if you want to be able to live with the ups and downs of the market over time.
In any event, today's podcast, Follow Your Gut, some of this resonates with some people. It certainly resonates with me and some members of our family and a lot more. Thank you for listening to the Becker Private Equity and Business Podcast.
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