Thinking and talking about failure can be tough, especially if it’s us who’s got something wrong.

But it’s vitally important for us as individuals and teams to find a way to address failure that allows us to both learn and evolve. In this episode of Decisions Nerds we:

– Examine my framework for thinking about errors around investment beliefs, processes and outcomes.

– Think about this in the context of broader typologies of errors; basic, complex and intelligent.

– Discuss some of the key psychological factors around failure and how they can be managed.

Some key takeaways:

The world of investing is filled with uncertainty and many of our decisions are going to be wrong.

We tend to look away from errors because of confusion about what caused them and fear of repercussions.

We can make life easier for ourselves when:

1.⁠ ⁠We accept failure and build processes that make us examine it.

2.⁠ ⁠We develop clear typologies of failure that are rooted in the decisions our teams make.

3.⁠ ⁠We build cultures of strong psychological safety.

As a bonus, you can hear me enjoy some live tech failures to bring the episode to life.

Play below, or find in all your favourite pod places.

https://decisionnerds.buzzsprout.com/2164153/14540844