The Richest Man Who Ever Lived Ch 12

Created by

@Tree Of Life Christian Academy

Study Notes

Naivete is a dangerous trap, impacting anyone regardless of intelligence or achievements, like a hidden mine that can cause lasting damage.
Real-life examples: Philo T. Farnsworth and Edward H. Armstrong, both geniuses, lost fortunes due to naivete.
Farnsworth, inventor of the television, trusted colleagues despite their competing patents and was robbed of his invention.
Armstrong, inventor of FM technology, faced betrayal by the CEO of RCA leaving him bankrupt and leading to his suicide.
Key Principle: "The naive believe everything, but a wise man looks well into a matter." (Proverbs 14:15)

Oversimplification: The natural human desire for simplicity can lead to ignoring crucial factors in decision-making.
Presumption: Assuming current conditions will remain the same in the future without considering change, leading to impulsive choices.
Misplaced Trust: Placing excessive trust in individuals without thorough scrutiny, leading to disappointments and betrayal.
Superficial Appearances: Focusing solely on superficial qualities of people or situations instead of digging deeper to understand the reality.
Laziness: Avoiding the effort of due diligence by accepting information at face value, leading to poor decision-making.
Haste: Rushing into decisions without careful consideration, ignoring potential risks and consequences.
Narrow Vision: Failing to seek outside counsel and relying solely on personal knowledge, limiting the scope of information.
Integrity: Honest individuals may be more susceptible to naivete because they can't imagine others being dishonest, making them vulnerable to deception.
Greed: Blindly chasing opportunities without thorough investigation, hoping for quick gains, leading to financial losses.
Arrogance: Believing in one's own intelligence and neglecting due diligence, leading to blindsided consequences.
Wrong Priorities: Prioritizing other activities over careful decision-making, ignoring the potential cost of naivete.

Diligence: "Looking well into a matter" is the key to avoiding naivete. It involves thorough investigation, seeking expert counsel, and considering all aspects of a decision.
Seeking Counsel: Consulting with trusted experts and advisors to gain different perspectives and expand one's understanding.
Wise Friends and Associates: Choosing friends and partners of high integrity and wisdom, avoiding those who might lead to bad decisions.
Prudence as a Daily Choice: Consistently choosing to be diligent and seeking counsel in all major life decisions, avoiding the pitfalls of naivete.

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