The Daily Insider: Wisdom worth considering before firing off on social media

Social media has many benefits. Among the downsides, however, is how easily posters commit to their preferred side of an argument. Similarly, nowadays, many employed as “journalists”. That’s just plain wrong. Believing you “know” is dangerous.

Warren Buffett’s business partner and Berkshire deputy chairman Charlie Munger follows a simple rule: “I never allow myself to have an opinion on anything that I don’t know the other side’s argument better than they do.”

Let that sink in for a moment. Here is one of the smartest men alive sharing his starting point is researching the counter to an opinion he has developed. He consciously inverts to better understand the other side. That takes work and focus. Activities not favoured among instant pundits with short (typically) attention spans.

Munger again: “We are all learning, modifying or destroying ideas all the time. Rapid destruction of your ideas when the time is right is one of the most valuable qualities you can acquire. You must force yourself to consider arguments on the other side.” Worth considering before firing off that next tweet.

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