{"id":6279,"date":"2022-05-27T23:56:00","date_gmt":"2022-05-27T15:56:00","guid":{"rendered":"https:\/\/www.granitefirm.com\/blog\/us\/?p=6279"},"modified":"2025-11-19T10:42:13","modified_gmt":"2025-11-19T02:42:13","slug":"outliers-10000-hours","status":"publish","type":"post","link":"https:\/\/www.granitefirm.com\/blog\/us\/2022\/05\/27\/outliers-10000-hours\/","title":{"rendered":"Outliers &#8211; great finding on 10000 hours"},"content":{"rendered":"\n<p>\u201c<em>There<\/em>&nbsp;are&nbsp;<em>three kinds<\/em>&nbsp;of&nbsp;<em>lies<\/em>:&nbsp;<em>Lies<\/em>, Damned&nbsp;<em>Lies<\/em>, and&nbsp;<em>Statistics<\/em>\u201d<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>The focus of this book<\/strong><\/p>\n\n\n\n<p>Outliers is an important business book, and it covers a wide range of things; two things stand out to me so far:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>10000 hours<\/li>\n\n\n\n<li>Statistics can be deceiving<\/li>\n<\/ul>\n\n\n\n<p>I discuss both of these things in detail in this article.<\/p>\n\n\n\n<p>Almost every celebrity opinion leader who has read this book, including Munger, agrees that the most important point is that in order to be truly proficient in a field, in addition to talent, one must invest about 10000 hours of effective training.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/05\/27\/outliers-10000-hours\/#Anders_Ericssons_research\" >Anders Ericsson&#8217;s research<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/05\/27\/outliers-10000-hours\/#10000_hours_works_for_stock_investing\" >10000 hours works for stock investing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/05\/27\/outliers-10000-hours\/#No_difference_on_investment\" >No difference on investment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/05\/27\/outliers-10000-hours\/#Related_articles\" >Related articles<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Anders_Ericssons_research\"><\/span><strong>Anders Ericsson&#8217;s research<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In the 1990s, the psychologist K. Anders Ericsson and two of his colleagues conducted an experiment at Berlin&#8217;s top music academies. The research by Erickson and his colleagues surprised people to find that there is no &#8220;innate genius&#8221; in excellence.<\/p>\n\n\n\n<p>The results of <a href=\"https:\/\/www.litcharts.com\/lit\/outliers\/chapter-2-the-10-000-hour-rule\" target=\"_blank\" rel=\"noreferrer noopener\">the study<\/a> stated: &#8220;The emergingpicturefromsuchstudiesisthatten<br>thousand hours of practice is required to achieve the level of mastery associated with being a world-class expert\u2014in anything,&#8221; Neuroscientist Daniel Levitin (Daniel Levitin) Said: &#8220;Whether it is a composer, basketball player, writer, ice skater, pianist, chess player, or a habitual criminal who has succeeded in committing crimes, the results of the statistics of their practice time, every time without exception,  this number comes up again and again. 10000 hours is equivalent to 3 hours of practice a day, or 20 hours a week, or 10 years of practice.&#8221;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"10000_hours_works_for_stock_investing\"><\/span><strong>10000 hours<\/strong> works for<strong> stock investing<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The problem is that very few people are willing to put in 10,000 hours for a long-term investment reward and a successful investment. This is also the central idea of the two articles I post on this blog, &#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/11\/why-people-with-high-iq-prone-invest-failed\/\" target=\"_blank\" rel=\"noreferrer noopener\">Why people with high IQ prone invest failed<\/a>&#8221; and &#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/03\/too-high-iq-is-not-useful-in-investment-but-will-hinder\/\" target=\"_blank\" rel=\"noreferrer noopener\">Too high IQ is not useful in investment, but will hinder<\/a>&#8220;&#8211; There are not so many smart people in the world. Most smart people just &#8220;think they are&#8221; smart. And the most fatal thing is that most people with high IQ are reluctant to invest time and effort. They think that fundamental research necessary for stock investment is time-consuming and not worth it. It&#8217;s stupid and behaviour of an idiot!<\/p>\n\n\n\n<p>&#8220;10,000 hours is equivalent to 3 hours of practice a day, or 20 hours of practice a week, or 10 years of practice time&#8221;&#8212;the same holds true for investing, and I&#8217;ve been doing like this. In my book &#8220;The Rules of Super Growth Stocks Investing&#8221;, sections 1-5, I list 10 years as one of the top three criteria for a successful investor you want to consult. It&#8217;s no coincidence, or whatever number I guess.<\/p>\n\n\n\n<p>Many people will disagree, thinking they don&#8217;t have as much time to devote to. To this view, I can only say &#8220;it&#8217;s not whether you have or not, it&#8217;s willingness, choice, and  devote.&#8221; Everyone has 10000 hours.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"143\" height=\"138\" src=\"https:\/\/www.granitefirm.com\/blog\/us\/wp-content\/uploads\/sites\/2\/2022\/07\/t-1.png\" alt=\"Outliers\" class=\"wp-image-11801\"\/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"No_difference_on_investment\"><\/span><strong>No difference on investment<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In 2000, Buffett answered questions in front of 165 students in a class at Columbia University, his alma mater, how to prepare for an investment career? Buffett replied, &#8220;Read 500 pages like this every day,&#8221; He pointed to a bunch of public company financial reports and materials; &#8220;That&#8217;s how knowledge builds up, like compound interest. &nbsp;All of you can do it, but I guarantee not many of you will do it.&#8221; <\/p>\n\n\n\n<p>That&#8217;s why Buffett once said how to improve the odds of investing, saying, &#8220;You have to understand the business, there is no other way.&#8221;<\/p>\n\n\n\n<p>John Templeton said: &#8220;Achieving a good record takes much study and work, and is a lot harder than most people think.&#8221;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Related_articles\"><\/span>Related articles<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/20\/statistics-can-be-deceiving\/\">Statistics can be deceiving<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/05\/27\/outliers-10000-hours\/\">Outliers &#8211; great finding on 10000 hours<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/11\/18\/doom-to-fail-if-not-good-at\/\">Doom to fail if you&#8217;re not good at investing<\/a>&#8220;<\/li>\n<\/ul>\n\n\n\n<p><em><strong>Disclaimer<\/strong><\/em><br><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><em>The content of this site is the author\u2019s personal opinions and is for reference only. I am not responsible for the correctness, opinions, and immediacy of the content and information of the article. Readers must make their own judgments.<\/em><\/li>\n\n\n\n<li><em>I shall not be liable for any damages or other legal liabilities for the direct or indirect losses caused by the readers&#8217; direct or indirect reliance on and reference to the information on this site, or all the responsibilities arising therefrom, as a result of any investment behavior.<\/em><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Outliers 10000 hours, statistics can be deceiving, I quote Graham in my book of &#8220;The Rules of Super Growth Stocks Investing&#8221;, he said:  &#8220;The combination of precise formulas with highly imprecise assumptions can be used to establish, or rather to justify, practically any value one wishes.&#8221; <\/p>\n","protected":false},"author":1,"featured_media":11801,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1424,50,65,20,71,67,375,11],"tags":[],"class_list":["post-6279","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-historical-statistic","category-benjamin-graham","category-business-books","category-john-templeton","category-out-of-the-ordinary","category-perseverance","category-time","category-buffett"],"_links":{"self":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/6279","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/comments?post=6279"}],"version-history":[{"count":42,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/6279\/revisions"}],"predecessor-version":[{"id":40086,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/6279\/revisions\/40086"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/media\/11801"}],"wp:attachment":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/media?parent=6279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/categories?post=6279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/tags?post=6279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}