Thinking in Bets
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This book, I admit, I picked because of its relation to risk management. I found it intriguing, and it did end up being a great read. Not overly complex, yet it provides a view of chances and probabilities.
Enjoy!
As usual, if you pick up the book, read it and want to give me feedback, please reach out.
Thinking in Bets by Annie Duke 
Even the best decision doesn't yield the best outcome every time. There's always an element of luck that you can't control, and there is always information that is hidden from view. So, the key to long-term success (and avoiding worrying yourself to death) is to think in bets: How sure am I? What are the possible ways things could turn out? What decision has the highest odds of success? Did I land in the unlucky 10% on the strategy that works 90% of the time? Or is my success attributable to dumb luck rather than great decision making?
Annie Duke, a former World Series of Poker champion turned business consultant, draws on examples from business, sports, politics, and (of course) poker to share tools anyone can use to embrace uncertainty and make better decisions. For most people, it's difficult to say "I'm not sure" in a world that values and, even, rewards the appearance of certainty. But professional poker players are comfortable with the fact that great decisions don't always lead to great outcomes and bad decisions don't always lead to bad outcomes.
By shifting your thinking from a need for certainty to a goal of accurately assessing what you know and what you don't, you'll be less vulnerable to reactive emotions, knee-jerk biases, and destructive habits in your decision making. You'll become more confident, calm, compassionate and successful in the long run.
Annie Duke has leveraged her expertise in the science of smart decision making to excel at pursuits as varied as championship poker to public speaking.
Annie now spends her time writing, coaching and speaking on a range of topics such as decision fitness, emotional control, productive decision groups and embracing uncertainty. She is a regularly sought-after public speaker, addressing thousands in keynote remarks at conferences for organizations ranging from the Investment Management Consultants Association to the Big Ten Conference. In 2015, she became a member of the Nation Swell Council. In 2016, she began serving on the board of directors of The Franklin Institute, one of America’s oldest and greatest science museums.
Annie currently resides in the Philadelphia area. You can visit her website at www.annieduke.com.
– Sylvie Edwards
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