How the natural tendency of the human body to lose cognitive abilities with age can have deteriorating effects on our cognitive abilities
22-Sep-2015 •Mohammed Ekramul Haque
What is it? Senescence refers to biological ageing. This is the natural tendency of the human body to lose cognitive abilities with age, but this is addressable by continuous learning. Says Munger, "With advanced age, there comes a natural cognitive decay, differing among individuals in the earliness of its arrival and the speed of its progression. Practically no one is good at learning complex new skills when very old. But some people remain pretty good in maintaining intensely practiced old skills until late in life as one can notice in many a bridge tournament."
Often found in: Age progression
Some people can hide their senescence-related deterioration very well. Explains Munger, "Old people like me get pretty skilled, without working at it, at disguising age-related deterioration because social convention, like clothing, hides much decline."
To prevent the senescence-misinfluence tendency, don't wait to grow old and then face the problem. Everyone can benefit from learning new skills at any age. That's Munger's prescription to prevent this tendency from taking its hold over you. "Continuous thinking and learning, done with joy, can somewhat help delay what is inevitable."
You just read about one of the misjudgements people generally make while investing. Read 25 ways to (Not) make mistakes to get an account of Charlie Munger's twenty-five typical misjudgements, along with our commentary on how they fit into Indian businesses and Indian investments.