Lessons from Annie Duke (Author of “Thinking in Bets: Making Smarter Decisions When You Don’t Have All the Facts”) | Value Investing News

Lessons from Annie Duke (Author of “Thinking in Bets: Making Smarter Decisions When You Don’t Have All the Facts”)

  • ” “There are elements of luck and skill in virtually any outcome.” “We can’t control luck.” “The world is a pretty random place.” “If making the same decision again would predictably result in the same outcome, or if changing the decision would predictably result in a different outcome, then the outcome following that decision was due to skill.
  • “Some things are unknown or unknowable.” “The influence of luck makes it impossible to predict exactly how things will turn out, and all the hidden information makes it even worse.” “Making better decisions starts with understanding this: uncertainty can work a lot of mischief.”
  • We all make predictions about the future and we are really good at making a case for our stuff.
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