I just read Fooled by Randomness by Nassim Nicholas Taleb.

He talks about how he smiles when he see’s traders watching their share prices in real-time on their smartphones.

Because he knows: you’re brain can’t process the noise that comes with keeping an eye on real-time data.

Yes, the world is happening in real-time-data, but your brain can’t cope with real-time data.

You are much better of when you reflect on “bigger chunks” of information. If you have too high of an information intake frequency, you’ll just burn out.

That’s why it’s a lot better to read the New Yorker on Mondays than the WSJ every day. (to put it in his words)

Now think about the world of Internet Marketing: Many internet marketers try to keep up with SO MUCH STUFF!

Every week there is some “big launch”, some new breakthrough tactic, some once-in-a-lifetime opportunity, and we’re spinning our heads to keep up with it.

We have an enormously high information intake frequency.

This fucks us up.

Because the chances of success on a long-term basis are much higher on certain investments than on a shortterm basis (meaning: you might invest in certain stuff and win 99% over a one-year period, but by looking at it in one-second intervalls you experience so many more losses  that the win-loss frequency is almost 50/50, but the impact of a loss has a much higher emotional cost than the impact of a win).

So take a step back and get some altitude as Eben Pagan calls it.

Categories: Living Profitable
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