Revisiting practice of Second Level Thinking, when investing and living your life

We inhabit a world of trial and cancellation by media; one where sociopaths mostly roam free from society's sanction; where corrupt corporations fool unaccountable auditors and, if caught, argue that repayment of ill-gotten gains clears the slate. A depressing state of affairs. But for the rational mind, a solid defence does exist..It's what investment guru Howard Marks refers to as Second Level Thinking, a practice of deliberately and methodically reaching beyond the obvious. Something that requires reflection and deeper thought. And a reminder that because very little is as it first appears, suspending judgement is the best way to avoid needless mistakes..Marks describes first level thinking as "simplistic and superficial, and just about everyone can do it." It's employed by 99% of humanity who seek immediate solutions to problems with no thought of potential knock-on effects. Like filling in potholes ahead of a Blue Light Brigade drive-by. Or adding to National Debt by caving to public sector wage demands..___STEADY_PAYWALL___.Second Level Thinking requires healthy scepticism; questioning the obvious; seeking out unintended consequences; and keeping an option on the table until you're absolutely certain it is wrong. Practicing this delivers unexpectedly positive results. At the very least avoiding a habit of acting in haste and having to repent at leisure. Highly recommended..More for you to read today: .Stocks face brutal earnings season with all eyes on Apple, investors say. Investors expect this earnings season to pummel stocks further and will watch Apple Inc. in particular as a bellwether of global economic conditions.Jamie Dimon's S&P 500 bear market: Brutal far from unimaginable. Jamie Dimon says don't be surprised if the S&P 500 loses another one-fifth of its value. While such a plunge would fray trader nerves and stress retirement accounts, history shows it wouldn't require any major departures from past precedents to occur.Pro traders working the stock options market like no time since crisis. With a lumbering bear market whipping up volatility, the biggest traders are wringing stock options for all they're worth.Glencore faces flood of UK litigation following bribery charges. Glencore Plc faces a raft of class-action style lawsuits from investment and pension funds in the UK, months after the mining giant pleaded guilty to market manipulation and bribery..Rob Hersov is back with a plan to turn talk into action: New South Africa.orgOutspoken billionaire, viral sensation and vehement critic of the ANC, Rob Hersov, joined Alec Hogg of BizNews to share his practical solution "to save South Africa from the ANC," as he puts it. Aside from extreme praise and death threats, Hersov has also received criticism for being "all talk and no action" following his latest scathing accusations against the corrupt ANC. In response and because of his own passion to see South Africa succeed, he has launched a decentralised autonomous organisation called New South Africa.org which has already gained 12,000 members in the four days since the blockchain-supported platform was launched. .NB FOR YOUR WALL STREET JOURNAL ACCESS….As a Premium subscriber you are entitled to full membership of wsj.com (normal price $29 a month). Be sure to action your access through the Premium link on the BizNews website. Because of The Wall Street Journal's credential requirements, be sure to create a password which has at least 8 characters and includes at least one letter and one number – NB it MAY NOT contain any special characters (ie #, !, @ etc). To maintain access to WSJ.com, you MUST enter our partner's website via BizNews Premium at least once a month. A final PS, if you had previously signed up for WSJ you'll need to clear the cookies from your device. Our helpdesk can assist –support@biznews.com.

Revisiting practice of Second Level Thinking, when investing and living your life

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