Truthmode.finance

London 📊 📍 | Finance & MIS student | UK| Learning in public |
Finance | Systems | Behaviour
Educational only | No advice

[Market Rebellion @RebellioMarket]

What Will People Say:

[Words & Wisdom @WordsnWisdom26]

“𝘈𝘣𝘰𝘷𝘦 𝘢𝘭𝘭, 𝘯𝘦𝘷𝘦𝘳 𝘥𝘦𝘤𝘦𝘪𝘷𝘦 𝘺𝘰𝘶𝘳𝘴𝘦𝘭𝘧; 𝘰𝘯𝘤𝘦 𝘺𝘰𝘶 𝘴𝘵𝘢𝘳𝘵 𝘣𝘦𝘭𝘪𝘦𝘷𝘪𝘯𝘨 𝘺𝘰𝘶𝘳 𝘰𝘸𝘯 𝘭𝘪𝘦𝘴, 𝘺𝘰𝘶 𝘭𝘰𝘴𝘦 𝘵𝘩𝘦 𝘢𝘣𝘪𝘭𝘪𝘵𝘺 𝘵𝘰 𝘴𝘦𝘦 𝘵𝘳𝘶𝘵𝘩.”

— 𝘍𝘺𝘰𝘥𝘰𝘳 𝘋𝘰𝘴𝘵𝘰𝘦𝘷𝘴𝘬𝘺

[DaveAY @Daveay7]

I wasn’t ready for that 😳😂😂

[ACCA Official @ACCAOfficial]

The world has changed, and so has accountancy.

We look far beyond the bottom line, shaping businesses today, pioneers of a better tomorrow.

That's accountancy redefined.

Find out more: https://t.co/ZthOWDjzYU

[Truthmode.finance @Magicltdpr]

In which areas of life do we most often pretend to know more than we really do?

[Truthmode.finance @Magicltdpr]

Is it possible to be 100% certain about something? Why or why not?

[Truthmode.finance @Magicltdpr]

True wisdom starts with knowing the limits of what we know.
Socrates said:
“The only true wisdom is in knowing you know nothing.”

Critical thinking is not about winning arguments.
It’s about improving the quality of your own thinking.

[Truthmode.finance @Magicltdpr]

Waste no more time arguing about what a good person should be. Be one.
— Marcus Aurelius
Critical thinking is a form of self-development.
It asks better questions than it gives easy answers.
Which of these questions do you need to ask yourself more often?

[Truthmode.finance @Magicltdpr]

9. The Psychology of Decision Making – American Psychological Association
https://t.co/MKcYQeGQj0

[Truthmode.finance @Magicltdpr]

Nowadays, we have access to more information than ever. Critical thinking is still rare.
Algorithms feed us what we want to hear. We drown in noise and convenient “truths.”Critical thinking is a skill.
And as every skill it can be trained.
Here are 9 free courses worth taking:

[Truthmode.finance @Magicltdpr]

7. Mindware: Critical Thinking for the Information Age – University of Michigan
https://t.co/NQSEpuKBQF
8. The Science of Mind and Decision Making – University of Cambridge
https://t.co/GUiGnKASv7

[Truthmode.finance @Magicltdpr]

4. Logic and Critical Thinking – Duke University
https://t.co/rIo6WOvYTB
5. Critical Thinking and Decision Science – University of Michigan
https://t.co/mU9xIcp4dd
6. Critical Thinking Skills for Professionals – UC Davis
https://t.co/HzqTklAqXX

[Truthmode.finance @Magicltdpr]

Structure and Function of Argument – Harvard
https://t.co/BCHDyLisPD
2. Tech Ethics: Critical Thinking in the Age of Apps, Algorithms and AI – Harvard
https://t.co/NN62ZYeetE
3. Philosophy and Critical Thinking – University of Queensland
https://t.co/AN0gCGqxiX

[Truthmode.finance @Magicltdpr]

After going through loss aversion, prospect theory, mental accounting and the rest, here are the sources that keep coming up:
• Thinking, Fast and Slow — Daniel Kahneman
(the one that makes you realise your brain has been freelancing without permission)
• The Psychology of Money — Morgan Housel
(short stories that quietly expose how weird we are with money)
• Misbehaving — Richard Thaler
(how people refuse to behave like the rational creatures economists hoped for)
• Nudge — Thaler & Sunstein
(because apparently we need help not sabotaging ourselves)
And the original 1979 paper by Kahneman & Tversky —
the one that started this whole “maybe humans aren’t fully rational” conversation.
Still working my way through them.
Slowly. With coffee. And occasional denial. 🙂🔋💥

[Truthmode.finance @Magicltdpr]

Key Biases from Prospect Theory

Prospect Theory helps explain several systematic biases in decision-making:
Endowment Effect
We value things more highly simply because we own them.
Example: demanding more money to sell something than we would pay to buy it.

Certainty Effect
We overweight outcomes that feel certain compared to those that are only probable.
Example: preferring a sure £900 over a 90% chance of £1,000.

Framing Effect
The way a choice is presented changes the decision, even when the numbers are the same.
Example: reacting differently to “90% fat-free” vs “contains 10% fat”.

Disposition Effect
The tendency to sell winners too early and hold losers too long.
Example: locking in a 20% gain quickly while holding a 20% loss in hope of recovery.

All of these biases stem from the same core mechanism:
we evaluate outcomes relative to a reference point, and losses weigh more heavily than gains.

[Truthmode.finance @Magicltdpr]

@RealElonFan16 Grown up

[Truthmode.finance @Magicltdpr]

Don’t forget to take care of yourself sometimes.
Growth doesn’t only come from pushing harder.
Often it comes from removing what gets in the way — including exhaustion.
Rest is not the opposite of progress.
It’s part of it.