One of the best ways to embody practical intelligence is Charlie Munger’s concept of mental models. These are heuristics, or handy rules of thumb, for how to approach situations in smart ways. It’s when we try to freelance everything in our lives that we truly run into trouble, so having (relatively) universal guidelines or blueprints for how to act intelligently and efficiently can be invaluable.

Among the innumerable approaches that exist, we talk about the Pareto Principle (80/20 ratio), thinking about secondary consequences, distinguishing between feeling and thinking, satisficing (satisfy + suffice), prioritizing motion over planning, and addressing Murphy’s Law (whatever can go wrong, will go wrong).

Questions or comments regarding the podcast?

Email the show at KingPodcast@NewtonMG.com or let us know what you think at http://bit.ly/pkcomment

Hear it here – https://bit.ly/practicalintelligenceking

Show notes and/or episode transcripts are available at https://bit.ly/social-skills-shownotes

Learn more or get a free mini-book on conversation tactics at https://bit.ly/pkconsulting

For narration information visit Russell Newton at https://bit.ly/VoW-home

For production information visit Newton Media Group LLC at https://bit.ly/newtonmg

#BerkshireHathaway #Buffett #CharlieMunger #InvestmentManagement #Munger #ParetoPrinciple #USCBusinessSchool #WarrenBuffett #ThinkInModels #RussellNewton #NewtonMG #PatrickKing #PatrickKingConsulting #SocialSkillsCoaching

Hear it Here or follow at Captivate.fm