Titled “The Crisis The Gurus Punted“, David Ignatius’ column for tomorrow’s Washington Post begins:
The big mistakes we make in life aren’t the ones that sneak up on us, but those we make with our eyes wide open.
He goes on to note that today’s financial crisis isn’t a surprise – smart people have been warning us for years about what might be coming. But, we didn’t act – we didn’t follow our hunches. Ignatius urges Summers and Geithner to act – this time.
Serendipitously, someone happened to Twitter this morning about the talk Evan Williams gave recently at TED – which is really all about learning to following your hunch.
Earlier this morning, Berkshire Hathaway released this year’s Chairman’s Letter from Warren Buffett in which he reminds us of his dire warnings about derivatives – published six years ago.
No easy answers, of course – but the failure to take decisive action, to heed and act on our own hunches, is something we all need to get better at!