(Excerpt from Thinking In Bets by Annie Duke) … we also rated our level of confidence about the accuracy of our belief on a scale of zero to ten? Zero would mean we are certain a belief is not true. Ten would...
August 22, 2020|
Confirmation Bias, Ego, Fallibility, Overconfidence Bias
(Excerpt from University of Berkshire Hathaway by Daniel Pecaut and Corey Wrenn) He Charlie Munger claimed that his best ideas haven’t done better than others’ best ideas, but he’s lost less on his worst...
April 11, 2020|
Fallibility, Inversion, Investing, Via Negativa
(Excerpt from The Intelligent Investor by Benjamin Graham) The art of investment has one characteristic that is not generally appreciated. A creditable, if unspectacular, result can be achieved by the lay investor with...
September 23, 2019|
Fallibility, Investing, Overconfidence Bias, Randomness
(Extracted from Fooled by Randomness by Nassim Taleb) One of the best traders I have ever encountered in my life, Nigel Babbage, has the remarkable attribute of being completely free of any path dependence in his...
September 20, 2019|