As you think or rationalise your way through a problem, the point by which further contemplation no longer adds value to the decision you have to make, tends to be reached quickly. More thinking and research will reach diminishing returns.  At that point of time, the author suggests that you act because by interacting with the problem more directly, you get more insight on the situation that cannot be gained by thinking or by reading manuals.

One of the considerations I make when planning my workshop is to address the mistake I made when I was in my mid-twenties.

I considered myself “untrained” in investing and refused to buy individual stocks until I passed CFA III. In fact, by the time I started investing individual stocks seriously, I had the FRM, CAIA and MSc Applied Finance qualifications and it did not lead to any significant outperformance. Little did I …