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Wednesday, May 18, 2016

WACKO DECISIONS

BRYCE ON BUSINESS

- Instead of rationale thought some people rely on questionable methods.

(Click for AUDIO VERSION)
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I have always found it interesting how people formulate decisions. Actually, I believe there are two sides for doing so, the logical side, and what I like to call the wacko side.

The logical side should be rather obvious; decisions are formulated based on the latest information received, or perhaps we study statistical trends, and calculate the economics involved to formulate a cost/benefit analysis. If we're still not certain, we may solicit the advice of a trusted family member or confidant, such as a friend, a financial expert, or some other consultant. We may also do some research at the library or on the Internet. In other words, we are trying to gather as much reliable information as possible to arrive at a proper decision or course of action.

Then again, there is the wacko side where decisions are made based more on emotion than logic. In this regard, there is no concern that 2 + 2 = 4, only a desire or impulse to do something. To justify their decision, people prefer such things as rumors, a coin toss, a magic eight ball, a Ouija board, tarot cards, a fortune teller, or astrology.

I find horoscopes to be particularly amusing. They're fun to read but hardly a trusted means to lead your life. Mine typically reads something like this, "Leave important financial decisions alone, the moon is still full. Wait until it comes in contact with Mars soon. Save time for Sagittarius today." Yea, right.

Why anyone relies on these wacko devices is beyond me. Maybe it's because when something goes wrong, you can blame the device. Sorry nitwit, but you made the wrong decision by using such devices. Try using your brain instead.

Frankly, the reason people use wacko devices is because they realize thinking is difficult and they prefer having someone or something tell them what to do. They also fear assuming responsibility for their actions. They'll take credit when things go right, but will blame the device when it goes wrong.
In a way, the difference between logical and wacko decision making is like gambling. Over the years I have learned not to do any serious betting on those games involving an animal element. Instead, I prefer games where I know the precise odds and house winning percentage, such as craps or blackjack. Games involving an animal element is simply too unpredictable.

One last note, we have a Bryce's Law which states, "There is little point in producing information if nobody is going to act on it." This means, if you are going to go to the trouble of collecting information, do not ignore it, use it. And stay away from things like Ouija boards.

Also published with News Talk Florida.

Keep the Faith!

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Tim Bryce is a writer and the Managing Director of M&JB Investment Company (M&JB) of Palm Harbor, Florida and has over 30 years of experience in the management consulting field. He can be reached at timb001@phmainstreet.com

For Tim's columns, see:   timbryce.com

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Copyright © 2016 by Tim Bryce. All rights reserved.

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