In a perfect world, to determine whether an idea or fact is true, we would patiently evaluate how it fits with our own experience, take note of the credibility of the source and be prepared to reconsider if new information emerges. In reality, we are often too busy and distracted
Good poker skills certainly seem to help if you’re a hedge fund manager. A new study, Hedge Fund Hold’em, has found hedge fund managers who do well in poker tournaments enjoy significantly better fund returns. “This effect is stronger for tournaments with more entrants, larger buy-ins, larger cash prizes and
How Portfolio Management is Like Poker Former world poker champion Annie Duke on her forthcoming book, educated guessing and the game she has yet to master. Annie Duke is an author, a former world poker champion, a business consultant and an expert on the behavioral pathways of decision-making. Her book, Thinking in
We need a mindset shift. We need a plan to develop a more productive habit of mind. That starts in the deliberative mind and requires foresight and practice, but if it takes hold, it can become an established habit, running automatically and changing the way we reflexively think.
Annie Duke has a remarkably diverse career. Her original ambition was to be an academic, and she was well on her way down that path to earning a PhD in cognitive psychology at the University of Pennsylvania. Some might say that cognitive psychology is the ideal discipline in which to
To win a poker game, you have to work with whatever data you have, however limited it may be, and then make the best choices possible. Annie Duke, decision strategist and former championship poker player, explains how poker has useful lessons for any IT decision-maker. Not long ago, Annie Duke
Editor’s Note: I just saw Annie Duke at a fundraiser for HowIDecide – a great organization furthering decision-making education (you’ll hear more about it soon) – and it wasn’t until ten minutes into our conversation that I realized why I loved her latest book. It’s because it bridges one of the problems I’m
Bit by bit, the myth of the “dumb money” is dying. For decades, Wall Street has derided individual investors as ill-informed, fickle and hapless. Instead of buying and holding, or buying low and selling high, the “dumb money” blindly chases performance, buying high and selling low. The perennial message from
Interest in podcasts is surging, and for good reason. There’s never been a better time to dive into the audio podcast medium with its growing variety and depth of content. Barron’s sifted through the clutter and found some of the best podcasts for our business and finance audience. Here are
Excerpt: Jussie Smollett, Dianne Feinstein and Nick Sandmann aren’t teachers, but in recent weeks, they’ve given Americans a lesson in the danger of jumping to conclusions — particularly if you’re prone to spreading your conclusions on the internet. … And while social media and other aspects of a culture addicted