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Outstanding Investor Digest: Perspectives and Activities of the Nation’s Most Successful Money Managers
The content summarizes a compilation of interviews with prestigious money managers, detailing their perspectives on investment strategies, risk assessment, and market valuations over multiple volumes of the Outstanding Investor Digest.
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Michael J. Mauboussin • Think Twice: Harnessing the Power of Counterintuition
and that some stock pickers are likely to do better than average for a number of years in a row, but then inevitably crash to earth. You
Thomas H. Davenport • Keeping Up with the Quants: Your Guide to Understanding and Using Analytics
What separated the good from the great investors had little to do with their analytical tools but a great deal to do with how they made decisions.
Michael Mauboussin • Michael Mauboussin — How Great Investors Make Decisions, Harnessing The Wisdom (vs. Madness) of Crowds, Lessons from Race Horses, and More (#659) - The Blog of Author Tim Ferriss
Considering what motivates the decisions of others, especially when those decisions affect you, is also essential. Incentives matter. Take a negotiation course, because skilled negotiators are masters at figuring out what is important to the other party and arriving at mutually beneficial solutions. Even if you are not dealing directly with another
... See moreMichael J. Mauboussin • Think Twice: Harnessing the Power of Counterintuition
“It is impossible to find any domain in which humans clearly outperformed crude extrapolation algorithms, less still sophisticated statistical ones.”17
Michael J. Mauboussin • Think Twice: Harnessing the Power of Counterintuition
investors have traditionally had trouble distinguishing between past returns and forecasts of future returns.
Richard H. Thaler • Nudge: The Final Edition
The halo effect and outcome bias combine to explain the extraordinary appeal of books that seek to draw operational morals from systematic examination of successful businesses. One of the best-known examples of this genre is Jim Collins and Jerry I. Porras’s Built to Last. The book contains a thorough analysis of eighteen pairs of competing compani
... See moreDaniel Kahneman • Thinking, Fast and Slow
The core of John Kelly’s philosophy of risk can be stated without math. It is that even unlikely events must come to pass eventually. Therefore, anyone who accepts small risks of losing everything will lose everything, sooner or later. The ultimate compound return rate is acutely sensitive to fat tails.