And that’s the key to figuring out your ideal thinking/doing ratio. The lives of both men were different, but both were decisive in their actions. And Asimov wouldn’t write 500 books without committing to writing every day. Warren Buffett would not be this famous if he didn’t make big bets. What I’ve learned is that we need to be decisive. Unfortunately, outliers do not represent reality. Buffett and Munger spend most of their time thinking. He could probably think and do AT THE SAME TIME. It almost looks like his ratio was 100% doing. It seems like there was very little inactivity in his life during those years. That comes down to about one book per month. Sure, some of his books were very short, but still, it’s an impressive bibliography. His first book, Pebble in the Sky, was published in 1950.īy the time he passed away in 1992, he had written about 500 books. Isaac Asimov is considered one of the most prolific writers of the 21st century. But what about people who don’t like to think and want to do more? Writing 500 Books In 42 Years Your ideal ratio depends on those two things. So even though I’ve found an ideal ratio that works for most people (which I’ll talk about later), remember to always look at your nature and your work. We need to make calls, write emails, have meetings, and create things. Outside of investing, there are few professions like that. But when he does, he makes huge decisions and large bets. A person who only acts and never thinks will not take five minutes to read this.īut the amount of thinking we need also depends on our work. You’re probably someone who likes to think, otherwise, you would not read this article. The lesson here is that everyone is different. So should we all spend 80% of our time thinking? It depends on two factors: To be clear, I’m only guessing here but by the looks of it, that’s the ratio Buffet and Munger have. That means the ratio these guys have is more like 80/20-thinking/doing. If we take a lesson out of Buffett and Munger’s book, we can say that’s not an effective ratio.Īccording to Peter Bevelin, author of Poor Charlie’s Almanack, Buffet and Munger have a “habit of committing far more time to learn and thinking than to doing.” We spend far more time doing than thinking. My guess is that the thinking/doing ratio at most organizations is something like 10/90. People want to DO something at all times. And you probably hear it at work or at home all the time. Just think about how often people ask you this question: “What are you doing?” Our western society is biased towards doing. I think that’s the first problem with the challenge we’re addressing in this article. And from the outside, it looks like you’re not doing anything. To many people, reading looks like inactivity. He reads newspapers, magazines, annual reports, and books. According to his biographer, Alice Schroeder, Buffett reads at least 5 hours a day. It’s the first thing he does when he comes to his office in Omaha. It’s well-known that Warren Buffett spends most of his time reading and thinking. They are not only thinkers, but they are also successful practitioners. But most of us never even consider living by a thinking/doing ratio.īefore I explain why that is, and how you can create your own ratio, let’s look at some of the most respected individuals of our time: Warren Buffett and Charlie Munger, two investors who are celebrated for their good decisions and thinking processes. Thinking by itself is worthless because if you never do anything, what’s the use? And if you only act without thinking, you’ll probably end up in jail or in a ditch. One side of me says, “Without doing you will never achieve anything.”Īnother side says, “Without thinking things through, you might end up doing the wrong things.” How much time should I spend thinking instead of doing? It’s one of the biggest questions I struggle with.
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