Personal Finance
Not knowing what you do not know is most dangerous (Type I & Type II ignorance)
By Wilfred Ling, The IFA on Duty  •  June 9, 2010
[caption id="attachment_3404" align="alignright" width="150" caption="Photo by DerrickT"]Photo by DerrickT[/caption] There are two types of ignorance. The first type of ignorance is: Knowing what you do not know. For example, I know I do not know anything about sailing. Don’t ask anything about sailing because I know I am completely ignorant about it. I label this as “Type I” ignorance. For Type I ignorance, if someone ask me about sailing, I’ll confess I am ignorant. The other party knows I am ignorant. If one day I need to do sailing, I’ll immediately seek help from someone who knows sailing. There is no pretence of knowing about the subject matter because of being self-aware of ignorance. Read more...
Read the full article
By Wilfred Ling, The IFA on Duty
Wilfred Ling is a Chartered Financial Consultant with Promiseland Independent Pte Ltd. He is a fee-based financial planner by profession.
LEAVE A COMMENT
LEAVE A COMMENT

Your email address will not be published.

*

Your Email Address will not be published
*

Read More Articles
More from thefinance