About this episode

Annie Duke discusses how cognitive biases affect decision making in investing and the importance of embracing uncertainty.

What if the reason your investment decisions feel so hard isn't the market -- it's how you're wired to think about outcomes? Annie Duke spent years as a professional poker player winning over $4 million in tournaments, then devoted the next chapter of her career to understanding why smart people consistently make bad decisions. The answer has nothing to do with intelligence and everything to do with how we confuse results with quality. She brings the full framework down to the basement today. What You'll Walk Away With Why certainty is the enemy of good decision making -- and the mindset shift that makes uncertainty feel like an advantage instead of a threat The Pete Carroll problem: how tying the outcome of a decision to the quality of the decision is quietly wrecking how you evaluate your investments Why being smarter actually makes this bias worse -- and how intelligent people spin data to confirm what they already believe more effectively than anyone else The difference between wanting to be right and wanting to be accurate -- and why that single distinction changes everything about how you process new information How to hold your beliefs as "works in progress" rather than…

People in this episode

Guest: Annie Duke

Topics covered

• decision making
• investing
• uncertainty
• cognitive biases
• poker
• outcomes

Keywords

• investment decisions
• cognitive biases
• decision making
• uncertainty
• poker
• Berkshire Hathaway
• Pete Carroll

Mentioned in this episode

Organizations: Berkshire Hathaway

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