The Success Equation: Untangling Skill and Luck in Business, Sports, and Investing
| Author | : | |
| Rating | : | 4.34 (680 Votes) |
| Asin | : | 1422184234 |
| Format Type | : | paperback |
| Number of Pages | : | 320 Pages |
| Publish Date | : | 2014-02-05 |
| Language | : | English |
DESCRIPTION:
A good introduction to statistics and less of a business self-help book than I expected I bought this book because it showed up more often than any other on some year-end lists of books that investment professionals recommended. It also deals with topics I spend a lot of time thinking about - the untangling of skill and luck, and what are the keys to success that a person has control over.It was well done if somewhat different from my expectations. The first 2/3 of the book are essentially a gentle introduction to statistics using examples from sports (sabermetrics), business strategy and investing, on the apparent assumption that most . "Highly enjoyable and comprehensible read." according to Don. The latest book by Michael Mauboussin explores the impact of luck and skill in business, sports, and investing. Since 199Highly enjoyable and comprehensible read. The latest book by Michael Mauboussin explores the impact of luck and skill in business, sports, and investing. Since 1993, Mauboussin has been an adjunct professor at the Columbia Graduate School of Business, where he has won awards for his teaching. It is easy to see why he is so popular with students. Mauboussin was extremely well received when he spoke to CFA Society Toronto about his last book, Think Twice: Harnessing the Power of Counterintuition. Prior to that, he wrote More Than You Know: Finding Financial Wisdom in Unconventional Places. All. , Mauboussin has been an adjunct professor at the Columbia Graduate School of Business, where he has won awards for his teaching. It is easy to see why he is so popular with students. Mauboussin was extremely well received when he spoke to CFA Society Toronto about his last book, Think Twice: Harnessing the Power of Counterintuition. Prior to that, he wrote More Than You Know: Finding Financial Wisdom in Unconventional Places. All. Integrating Intuition with Deep Thinking Andrea M. Schara Wondering what makes it so hard to make good decisions? Reading or really seriously studying Mauboussin's new book (amazon.com/The-Success-Equation-Untangling-Investing/dp/1422184234) is a fascinating education in how the brain misperceives the environment in predictable ways.Mauboussin identifies the ways we can be tricked by short cut thinking and rules of thumb decision-making. He even makes it seem possible, before breakfast, to understand a bit about correlations and decision-making linkages, statistical thinking and reversion to the mean. By ca
Once we understand the extent to which skill and luck contribute to our achievements, we can learn to deal with them in making decisions.The Success Equation helps us move toward this goal by: Establishing a foundation so we better understand skill and luck, and can pinpoint where each is most relevant Helping us develop the analytical tools necessary to understand skill and luck Offering concrete suggestions about how to take these findings and put them to workShowcasing Mauboussin’s trademark wit, insight, and analytical genius, The Success Equation is a must-read for anyone seeking to make better decisionsin business and in life.. Much of what we experience in life results from a combination of skill and luck.” From the IntroductionThe trick, of course, is figuring out just how many of our successes (and failures) can be attributed to eachand how we can learn to tell the difference ahead of time.In most domains of life, skill and luck seem hopelessly entangled. Different levels of skill and varying degrees of good and bad luck are the realities that shape our livesyet few of us are adept at accurately distinguishing between the two. Imagine what we could accomplish if we we
Anyone dealing in fields that blend some combination of luck and skillwhich is most of uswill find their understanding enhanced by reading it. He reminds us that in fields where luck plays a big part, like investing, outcomes are of limited relevance in assessing performance. Shaywitz on ForbesReally enjoyed reading The Success Equation by @mjmauboussin over the last few days. Michael Mauboussin not only understands the separation between skill and luck, but more importantly, provides a mental framework to deal with the reality. This book helps redress the balance.”Paul DePodesta, Vice President of Player Development and Scouting, New York MetsFew people acknowledge or care to accept the central role that luck plays in our lives. It is thor