Regularly re-evaluate your investment theses. Stubbornly holding onto an initial belief despite new, contradictory information can lead to significant losses. This framework encourages adaptation by forcing you to re-earn your conviction at regular intervals, preventing belief calcification.

We easily spot others' cognitive biases but are blind to our own. To improve decisions, form a small group of trusted peers who are committed to mutual accountability. This "truth pod" can effectively point out blind spots that you cannot see yourself.

For any important personal, financial, or professional decision, you must consult multiple other people. We inherently lack the objective perspective to see our own situations clearly—a cognitive blind spot Galloway likens to trying to read a bottle's label while you're inside of it. This makes external viewpoints non-negotiable for high-stakes choices.

Every new investor brings a unique 'superpower' from their past experience. The key is to lean on that strength while consciously avoiding the assumption that it translates to all areas of investing. Success requires augmenting inevitable blind spots with partners or an external network.

In an effective investment team, the responsibility of junior members is to "attack" and "challenge" the lead portfolio manager's ideas. This structure leverages cognitive diversity to cancel out individual biases and leads to more robust decisions than seeking consensus.

Our brains are wired to find evidence that supports our existing beliefs. To counteract this dangerous bias in investing, actively search for dissenting opinions and information that challenge your thesis. A crucial question to ask is, 'What would need to happen for me to be wrong about this investment?'

Junior investors often seek external validation. A better approach is to study successful investors to build a strong internal instinct for what greatness looks like. Once developed, you must trust this instinct and back your non-consensus ideas with confidence, as seeking consensus or borrowing conviction is a critical mistake in venture.

A powerful exercise for investors is to find high-quality analysis and intentionally try to disagree with it. This process forces you to think critically, consult primary sources, and develop your own unique conclusions. Even if you end up agreeing, the mental work builds a more robust and differentiated investment thesis.

Just as a tiger's orange fur is invisible to colorblind deer, your investment framework (value, growth, quality) makes you unable to perceive certain risks that are obvious to others. The danger isn't a hidden blind spot, but a flaw in your perception of visible data.