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Be wary of the illusion of control from "summary" of The Art of Thinking Clearly by Rolf Dobelli
A common mistake we often make is the belief that we have more control over situations than we actually do. This illusion of control can lead us to overestimate our ability to influence outcomes, causing us to take unnecessary risks or make poor decisions. When we feel like we are in control of a situation, we tend to be more confident in our actions, even when the reality is that the outcome is largely determined by chance or outside factors. This false sense of control can be dangerous, as it can lead us to ignore warning signs or dismiss important information that could affect the outcome. For example, in the world of investing, many people believe that they can beat the market through their superior knowledge or skill. Howeve...
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