Status: Tags: Links: Decision-Making
Knowledge Tracker
A knowledge tracker records the available information we had at the different parts of making a decision
Principles
- List out the different stages of a decision and the information you had during that time
- Prior to making the decision
- Prior to knowing the outcome (if applicable)
- After knowing the outcome
Benefits
- Helps alleviate Hindsight Bias
Example
Example
Stuff I knew before the decision
- I was previously 10k across both accounts
- The market had a decent dip
- I haven’t been managing my accounts as frequently Decision
- Hold Outcome
- Lost all profits, down 2k
Stuff I know after the outcome
- It’s not that I should have held in that scenario, it’s that I should have sold after seeing 22% profits in 3-4 months
- Next time I’ll lock in my profits whenever I beat the market, even if the stocks were initially meant for long term
- I was too greedy
- I wasn’t satisfied with 10k, and now I paid the price
References: