The Knowledge Project #119 Todd Simkin: Making Better Decisions
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Sep 7, 2021 
Todd Simkin, Associate Director at Susquehanna International Group, shares his wealth of experience in financial services and trader education. He discusses the intricate decision-making process, focusing on the differences between financial and interpersonal choices. Simkin stresses the importance of asking the right questions and fostering critical thinking. He also highlights how mentorship and feedback shape decision-making, and shares personal stories, including a transformative conversation with his father on the impact of thoughtful choices.
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Learning from Cognitive Biases
- Cognitive biases are useful for understanding past mistakes, not preventing future ones.
- Encourage open communication and feedback among peers to identify and correct biases in real-time.
Effective Teaching and the Zone of Proximal Development
- Find people's "zone of proximal development" to provide effective support.
- Provide scaffolding (minimal necessary support) to help them reach the next level of mastery.
Focus on Process Over Results
- Avoid evaluating decision-making solely on outcomes (resulting).
- Focus on the process by asking people to explain their reasoning without revealing results.