Thinking in Bets - Chapter 1 - Life is Poker, not Chess
Our Rational Answer books club has selected a book for February. It is “Thinking in Bets” by Annie Duke: https://www.amazon.com/Thinking-Bets-Making-Smarter-Decisions-ebook/dp/B074DG9LQF
This book is written by a multi-million dollar poker tournaments winner (and her brother is also a multi-million dollar poker tournaments winner - so it’s a family business ;))
She teaches how to apply poker thinking to make decisions in financial markets, strategic planning, human resources, law, entrepreneurship…
Chapter 1 covers how to separate outcome quality from decision quality.
The main idea is to NEVER JUDGE BY RESULT! The result can be a consequence of good luck or bad luck. You should be fine to say “I’m not sure!” or “I don’t know”.
Sharing my mind map as usual:
