Shaan Puri: Buffett's 'too hard pile' minimizes downside by filtering out ambiguity
Shaan Puri · Just found out my neighbor’s business sold for $450M · Jan 14, 2025 · at 51:54
Shaan Puri explains Warren Buffett and Mohnish Pabrai's mental model for decision-making in investing and relationship building.
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“Because the cost of a bad thing is worth way cost me much more than missing out on a good thing. Cause there are more good things that I could just filter for. And I'll find those good things like over time, there'll be obviously good. I'll just focus on the obviously good things. And he does this with investing. He does this with people. And it's just a very useful heuristic. Cause I think most of us try to be, if there's a hundred, we try to be accurate at the hundred level. It's like, I want to have an accurate grade on all hundred. And I'll spend all my time on the hard to judge things, and I'll get a lot of them wrong. But I'm trying to get them right, and therefore I'm taking a too much risk. Whereas his technique is, don't take too much risk. Take the obviously good and act on it, obviously bad, throw them away, and everybody else put them in the too hard pile and ignore it.”
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