Silly Mistakes
What to do when you lose hundreds of thousands of dollars.
If mistakes are paralyzing, I may have just found the solution for it.
Imagine for a second that you're an investor for one of America's largest wealth management company.
You're checking on client accounts and notice something that makes your stomach DROP.
There's $1,000,000 sitting there. Uninvested.
Worst of all, it's stayed as cash for the past 6 months.
The result? Several hundred thousand dollars in losses.
Of course, your boss notices after getting a "slightly" unnerving call from said client and investigates.
But here's the interesting thing...
Normally any rational boss will immediately "fire" you from not only the company but probably your life as well.
But if you have Ray Dalio as a boss, instead of firing you, he’d recruit you to create a "issue log" so other people are not afraid to show their mistakes and learn from them.
That's exactly what happened to Ross, a Bridgewater investor who accidentally forgot to invest a large amount of money for a client.
Thanks to this issue log, employees were safe when they reported their mistakes (and learned from them) but would be instantly fired if they hid them.
And that is the truth. Mistakes WILL happen. It's not a matter of how it's a matter of when.
That's where the principle: “it is okay to make mistakes, but it is unacceptable not to learn from them" comes from.
Of course, I'm one of those people who get stun locked by mistakes.
And to stop it from paralyzing me further I started my own version of an issue log and called it:
The Mistake Log.
Creative name. I know. (It won’t be me naming the kids…)
It's nothing major or fancy—just a page in my Remarkable where I list the numerous mistakes that happened throughout the day.
The results? A full log and archive of mistakes, what caused them, and how to prevent it from happening again.
So far, it's proven to be extremely helpful since I can get it out of my head and have a full plan of action going forward.
If you want to build one yourself, here are the questions I ask myself and some explanations.
- What happened? (The context of the situation)
- Why did I do this? (It's useful to write what you felt at the moment. Actions are driven by emotion first and logic second.)
- What did I learn? (If you didn't learn something from it the mistake wasn't as bad. Behavior is always about reward and punishment)
- What can I do differently next time? (My favorite question. This helps you see that few mistakes are permanent. And even those that are permanent have a way forward.)
- Next steps. (What you can do now to feel better about the mistake and right any wrongs that arise from this mistake)
If it sounds kinda "corporate" feel free to switch it to something that works for you.
Before I go on to the song I have to admit the foolish mistake on I made on Sunday.
And that was calling F.O.O.L a nosy Norwegian when he is actually a Stinky Swedish.
In any case, the showcase continues with this gorgeous electro house song. While it’s not as raw as Invaders was, it’s probably one of the most gorgeous songs I’ve heard to this day.
Everything from the strange chimes at the beginning prepares you for a tiny melody that gets you ready to be blown away by what comes next.
And then it starts: a euphoric melody, a signature bass with a smooth crunch, and a delicious saw synth on top.
Then how can I forget the midsection my beloved. If there’s an “addiction factor” to songs, the midsection has GOT to be the reason.
The second drop doesn’t disappoint either. I love the way F.O.O.L adds analog instruments to his songs because they are always on POINT.
These violins come and leave at the right moment. They stay long enough to give it flavor but not too long to become annoying.
And so it ends, with the same simplicity as the one it started with.
Don't let "not listening to today's song" be the first entry in your mistake log.
Njoy.
Genre: Electro House
Always Mistaking Forward
Hz
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