Segal's Law says a man with a watch knows what time it is. A man with 2 watches is never sure.
Most times options ruin the chance of one try.
Many overthink the ways to be rich. If you just consistently invested since 2003 then the $1,000 would be worth $4000 today. That’s the S&P 500 20-year lookout. More people lose money due to overthinking than an actual market drop. What hurts more is when people have the Optional Mentality to everything.
Trouble with Optionality
In the Harvard Article, Mihir Desai argues the hidden cost of changing things too many times. A graduate wants to do consulting because there he will get to learn all the skills of different industries. Knows of all trades and masters none.
We are better off sticking to one thing that we truly believe in.
Now the only right time to change is when we are convinced what we are doing is wrong. Or at least can get better. The pitfall that comes in the way is the opinions of others that rule over our decisions left, right, and center.
Embrace Two-everything
At the end of the article, Desai talks about the difficulty of attaining true Alpha. Alpha means the net new high profit attained. It shows how much your profitability (gains) has improved since the last time.
To be the best of the best is hard. So hard that some people get their kicks off it. But most of us are better off getting the basics right first. The only way we can even be the best of the best is by staying the course we believe to be true. For a very long time.
This is only possible when you deeply believe in one thing and stick to it. And only keep room for one more if you are convinced enough to change.
The rest will take care of themselves. Attain your own alpha.
Quest for Fullfilment
Reading for volume is a fool’s choice. You’ll get more from reading three great books and writing a careful summary of each one than racing through 50 books on the best-seller list.
The quote above by David Perell applies to all forms of work. Trying to keep as many options open is like going into a dairy shop and asking for all the samples when you want to eat the chocolate butter ice cream. In the end, you will quench your thirst, and fill your hunger but never fulfill your salivated taste.
You won’t have an empty stomach but neither will you have an enlightened soul.
Going full throttle on the fewest options at hand is what gives you the tools to conquer your potential. In all walks of life, work or otherwise.