Man with Hammer

Hi,

In this post, i will share some insights about the quote - "Man With Hammer"

Charlie Munger, the inimitable partner of Warren Buffett, has been saying the same thing for years –

"I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy does that help, particularly when you have a long run ahead of you."

According to Munger, the most efficient way to learn is vicarious learning. He says –

"I believe in the discipline of mastering the best that other people have ever figured out. I don’t believe in just sitting down and trying to dream it all up yourself. Nobody’s that smart."

It’s completely fine to use one model to understand the idea, and another to work out the details. But
life becomes difficult when we think there’s only one way to approach it.

Munger prescribes -

"You must know the big ideas in the big disciplines, and use them routinely — all of them, not just a few. Most people are trained in one model — economics, for example — and try to solve all problems in one way. You know the old saying: to the man with a hammer, the world looks like a nail. This is a dumb way of handling problems."

What Munger is suggesting is that one shouldn’t try to solve problems with the only tool he or she
possess. When you’re trying to make sense of the world around you, don’t try to explain things by
thinking of one reason and then latching on to it. Big outcomes are rarely caused because of one
reason. Ask “what else can cause this outcome.” Get more tools. Learn various mental models.
Worldly wisdom requires the use of multiple mental models to understand the real life experiences.
It’s said that there is nothing more dangerous than a man with an idea especially if it’s the only idea he has. So instead of swinging your single hammer in every direction, you should learn to rely on your toolbox containing multiple instruments i.e., metal models).

How we can get multiple way of thinking is by understanding the different mental models from different disciplines and how we come to know different mental models is by reading lots of books from different disciplines by following great people who are already using this mental models.

Keep reading and keep learning everyday.

Thanks,
Mahesh