Thinking in Bets - Chapter 4 - The Buddy System
People are not ready to consider themselves the source of the problem they are facing (their skill), they blame other people/circumstances (luck). How to overcome this issue?
One of the solution is to create “truth-seeking group” with your colleagues/friends/partners/“buddies”. And such a group should follow specific rules that would increase rationality…
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 4 covers how to establish a “buddy system” - a truthseeking group and what rules it should follow:
- Rule 1. Reward focus on ACCURACY
- Rule 2. ACCOUNTABILITY improves decision-making
- Rule 3. DIVERSITY of viewpoints
- +promote thinking in BETS!
Sharing my mind map as usual:
