Based on the given information, there are a few ways that Asia Alpha Management (AAM) could improve their decision-making in the future:

1. Improve research and analysis: AAM should strive to gather more accurate and up-to-date information to support their investment decisions. For example, in the case of Telstra, they were waiting for an announcement on the rollout of 5G technology for months. A more proactive approach to research could have provided them with a clearer picture of the timeframe.

2. Set clearer criteria for position management: AAM should establish specific criteria for managing positions, such as stop-loss levels or target prices. This would help them make more objective decisions and reduce the influence of emotions or market volatility. For example, in the case of Telstra, they set a hard stop at AUD$3.00, which indicates a predetermined level at which they would close the position.

3. Diversify information sources: AAM should consider gathering information from a wider range of sources to gain different perspectives and reduce bias. In the case of iRobot, they relied on the opinions of two bullish analysts, which may have limited their view of the potential risks. By seeking out more diverse opinions, they could have a more comprehensive understanding of the stock’s prospects.

4. Reflect on the decision-making process: Lim expressed second thoughts about the decisions made by the team. AAM should encourage open discussions and reflections on their decision-making process to identify areas for improvement. This could involve evaluating the effectiveness of their research methods, the quality of information used, and the decision-making criteria employed.

Overall, by improving research and analysis, setting clearer criteria, diversifying information sources, and reflecting on the decision-making process, AAM can enhance their ability to make informed and successful investment decisions in the future.