MasterFeeds: August 2017

Subscribe in a reader Add to Google Reader or Homepage

Aug 9, 2017

Does 10,000 Hours of Practice make Perfect?

WisdomGroup - Chicago Ruby on Rails. Web Apps. iPhone Apps. iPad Apps.
On The Beatles: "By 1964, the year they burst on the international scene, The Beatles had played over 1,200 concerts together. By way of comparison, most bands today don't play 1,200 times in their entire career."

The. Bottom Line is Yes. Only by practicing tirelessly do we become great at something: "The elite don't just work harder than everybody else. At some point the elites fall in love with practice to the point where they want to do little else."

Here is an article from WisdomGroup.com


10,000 Hours of Practice

In the book Outliers, author Malcolm Gladwell says that it takes roughly ten thousand hours of practice to achieve mastery in a field. How does Gladwell arrive at this conclusion? And, if the conclusion is true, how can we leverage this idea to achieve greatness in our professions?
Gladwell studied the lives of extremely successful people to find out how they achieved success. This article will review a few examples from Gladwell's research, and conclude with some thoughts for moving forward.

Violins in Berlin

In the early 1990s, a team of psychologists in Berlin, Germany studied violin students. Specifically, they studied their practice habits in childhood, adolescence, and adulthood. All of the subjects were asked this question: "Over the course of your entire career, ever since you first picked up the violin, how many hours have you practiced?"
All of the violinists had begun playing at roughly five years of age with similar practice times. However, at age eight, practice times began to diverge. By age twenty, the elite performers averaged more than 10,000 hours of practice each, while the less able performers had only 4,000 hours of practice.
The elite had more than double the practice hours of the less capable performers.

Natural Talent: Not Important

One fascinating point of the study: No "naturally gifted" performers emerged. If natural talent had played a role, we would expect some of the "naturals" to float to the top of the elite level with fewer practice hours than everyone else. But the data showed otherwise. The psychologists found a direct statistical relationship between hours of practice and achievement. No shortcuts. No naturals.

ShareThis


The MasterFeeds

MasterSearch

Categories

MasterFeeds News Finance china USA money stocks debt Commodities United States Gold Venezuela Dollars bonds Markets economics trading Banks FED Hedge funds Asia LatAm Oil default Israel credit metals Mining international relations russia central_banks CapitalMarkets HFT democracy zerohedge Euro Silver elections India Iran Japan Middle East SEC bailout Africa Europe Liberalism insider trading Agriculture FX Tech Trade UN VC bitcoin copper corruption real estate Brazil CoronaVirus ForEx Gold Silver NYSE WeWork chavez food Abu Dhabi Arabs EU Facebook France Hamas IPO Maduro SWF TARP Trump Turkey canada goldman government recession revolution war Cannabis Capitalism Citigroup Democrats EIA Hezbollah Jobs Lebanon NASDAQ NYC PDVSA Palestinians Saudi Arabia Softbank Stats Syria Ukraine demographics ponzi socialism 13F AIG Advertising Berkshire Hathaway CBO Cargill Colombia Cryptocurrency ETF Ecuador Emerging Markets Eton Park Google Housing IMF LME Mindich Mongolia OPEC PIIGS Pakistan Palantir Paulson Pensions Peru Politics Potash QE Scams Singapore Spain UK Yuan blockchain companies crash cybersecurity data freedom humor islam kleptocracy nuclear propaganda social networks startups terrorism Airlines Andorra Angola Anti-Israel Apple Automobiles BAC BHP Blackstone COMEX Caracas Coal Communism Crypto DRC DSK Double-Dip EOS Egypt FT Fannie Mae Form Foxconn Freddie GM Gbagbo History ICO Iraq Italy Ivanhoe Ivory Coast JPM Juan Guaido Lava Jato Libya London M+A MasterEnergy Mc Donald's Miami Mugabe Norway Norwegian Odebrecht Oyo PA PPT Panama QE2 Republicans Rio Ron Paul ShengNu Soleimani South Africa Tokens Tunisia UN Watch UNESCO UNHRC Uber VW Wyclef anti-semitism apparel bang dae-ho cash censorship chile clothing coffee cotton derivatives emplyment foreclosures frontrunning haiti infrastructure labor levi's mortgages philosophy shipping social media treasury women