In case anyone is interested: http://www.amazon.com/Think-Twice-Harnessing-Power-Counterintuition/dp/1422176754/ref=pd_ts_b_6?ie=UTF8&s=books
Let’s talk about your new book “Think Twice: Harnessing the Power of Counterintuition” Q: What motivated you to write this book? How does it differ from your prior best seller? A: I started my career as a big believer in models and finance theory. And I still think those things are really important. But over time I came to recognize that what makes for great investors—and corporate managers, for that matter—is not their ability to crunch numbers, but rather their ability to make good decisions in the face of uncertainty. Remarkably, decision making is the most important facet of investing and is probably the least taught aspect in business school. My “a-ha” moment came at an investment and behavioral finance conference a few years back. Like they do at most of these conferences, the professors ran little experiments to demonstrate various decision making principles, and offered small prizes for the attendees who did best. The first contest was about overconfidence and calibration, and I won. I got a t-shirt. The second one was about thinking about the decisions of others, and I won that one, too. Now with about 70 attendees, it would be fair to say that it was unlikely I would win both contests out of sheer luck. But I have a confession to make: I had seen variations of these exercises before, and when I first tried them I did really poorly. Embarrassingly poorly. But then I learned the principles, and how to deal with those types of decisions. So even though I didn’t know the answers to those exact exercises, I knew how to think about them. When Dick Thaler, a foremost behavioral economist, tossed me the t-shirt after I won the contest, he grumbled, “You don’t deserve this, you knew what was going on.” And I thought: “That’s right, and that’s the point!”
DO NONE OF YOU CARE? ITS MICHAEL MAUBOUSSIN! *runs hunched over out of the room looking at the floor wearing pants that are too short
I’ve never heard of him but this type of book looks like its right up my alley. Can you recommend any other skepticism like books? Thanks Ali
i read his first, had a chance to talk to him twice in person…very friendly, down to earth and so smart. i didn’t know about this book. thanks for the heads up. added to the shopping list.
kcin, how are you buddy? Long time no see. - Mauboussin’s first book, More than you know - Your money and your brain - Zweig (haven’t read it but I hear it’s good) - Seeking Wisdom: From Darwin to Munger - Peter Bevelin
Things are ok with me, new job is going well so far. Otherwise just mourning the sudden disappearance of any remnants of summer :(. What’s new with you? Thanks for the book recommendations btw.
^Did you finish my book list yet?
Will get right to it m’am.