Probablistic Decision-Making
by Danno I circled back this week to listen to a podcast that really resonated with me. It's Barry Ritholtz in April 2018 interviewing famous poker player Annie Duke, "Decision-Making in Poker and Life," as part of the podcast series Masters in Business (published on Bloomberg Opinion). Annie had recently released a book called "Thinking in Bets: Making Smarter Decisions When you Don't Have All the Facts." She has a mindset that I've noticed is a recurring theme with many successful people. She has a ton of knowledge, but her mindset is one of humility and "forever learning", and she has a willingness to change her beliefs if presented with better information. The interview is heavy on human psychology, luck as a part of statistical probabilities, and how we apply them, but everything is tied back to things that anyone can relate to. In financial planning, it's a requirement that we view the world this way. The future, by definit