Support My Efforts By Visiting The Advertisers

Disclaimer

This is a personal blog. The opinions expressed here represent my own, not those of my employer and is not intended to malign any religion, ethnic group, club, organization, company, or individual.

Learning Through Reflecting

>> Wednesday, November 30, 2011

Was reading a book one day and this statement took me completely off guard, "you do not learn by going through an experience, you learn from reflecting on the experience!"

I felt that this was very meaningful as we can go through many experiences every day but we will learn little if we do not take some time to debrief and reflect on what we went through.

The debrief process also needs to be effective. So, objective questions need to be addressed:
1. What happened?
2. What worked, and why?
3. What did not work, and why?
4. What could have been done differently?

Firstly, it is to recall what happened.
Secondly, focus on how to recreate the success.
Thirdly, the mistakes to avoid.
Lastly, how to avoid those mistakes.

The process may seem very logical and simple. Many may even be thinking, "Like that only, who don't know"?!

Exactly, it is precisely so simple, yet few make the effort to do it, consciously. When going into the first and every subsequent investment, it is important to reflect when the transaction is over. Regardless if there was a profit or a loss, those same questions should be asked so that mistakes will not be repeated and positive strengths uncovered.

After many rounds, a whole set of best practices and the ability to be consistent develops. Many times, advice stops at, "If you fail, try again." However, that is also incomplete, according to Einstein who defines insanity as "Doing the same thing over and over again but expecting different results." Simple trying again is insane, unless one tries again, differently. I feel like when I was younger and did not do well in exams, parents will encourage and say "study harder". Doing more in the wrong way is not going to produce better results; rather the method of studying needs to be revisited.

Similar to "Practice makes perfect". Practice actually makes permanent, like a habit. But if it is the wrong habit, it is not going to be perfection. The practice requires refinement to improve each time to reach perfection. The spiral of the improvement cycle is only complete with the last feedback arrow.

Well, this has left me a lot of food for thought and I hope it has for you as well.

"When you stop learning, stop listening, stop looking and stop asking questions, then it is time to die."

4 comments:

Singapore Man of Leisure December 4, 2011 at 8:57 PM  

Lau,

I am glad I am still making mistakes... (not that I want to!)

It's a sign I am still curious, still learning, still questiong, and still experimenting!

That means I am still "young-at-heart"! LOL!

Lau December 5, 2011 at 5:42 PM  

hi SMOL

Yes, that is great!

Forever young, forever young..

certified financial planner December 30, 2011 at 7:01 PM  

Great article, as a financial planner I totally agree reflecting is vital

Lau December 31, 2011 at 10:31 AM  

Yes CFP. That is why regular financial reviews are needed to know ones financial health. Thanks.

Disclaimer

Privacy

The owner of this blog does not share personal information with third-parties nor does the owner store information is collected about your visit for use other than to analyze content performance through the use of cookies, which you can turn off at anytime by modifying your Internet browser’s settings. The owner is not responsible for the republishing of the content found on this blog on other Web sites or media without permission.

Blog Comments

The owner of this blog reserves the right to edit or delete any comments submitted to this blog without notice due to;

1. Comments deemed to be spam or questionable spam
2. Comments including profanity
3. Comments containing language or concepts that could be deemed offensive
4. Comments that attack a person individually

Terms and Conditions

All content provided on this blog is for informational purposes only. The owner of this blog makes no representations as to the accuracy or completeness of any information on this site or found by following any link on this site. The owner will not be liable for any errors or omissions in this information nor for the availability of this information. The owner will not be liable for any losses, injuries, or damages from the display or use of this information.

This policy is subject to change at anytime.

About This Blog

To promote the education of individuals for the need to have a healthy lifestyle and wealth management through proper financial planning, particularly in investments.




Top Blogs


Awards

Top Sites

  © Blogger templates Sunset by Ourblogtemplates.com 2008

Back to TOP