The Success Equation: Untangling Skill and Luck in Business, Sports, and Investing
| Author | : | |
| Rating | : | 4.94 (820 Votes) |
| Asin | : | 1422184234 |
| Format Type | : | paperback |
| Number of Pages | : | 320 Pages |
| Publish Date | : | 2015-08-02 |
| Language | : | English |
DESCRIPTION:
It is thoroughly researched and well written. He reminds us that in fields where luck plays a big part, like investing, outcomes are of limited relevance in assessing performance. I highly recommend the book to anyone interested in making better investment choices.” CFA Institutean engaging book.” Choice MagazineIn The Success Equation, Mauboussin explores the contributions of skill and luck, and discusses how interpreting past results through the skill-luck continuum’ can help leaders to make better decisionsThis can be a useful way to look at business leadership He observes that luck becomes more important and skill less so, as people climb up the hierarchy, which also raises interesting questions about how leaders can continue to grow and enhance their skills what leaders can do, is to improve their understanding of the impact of fortune on their decisions.” The Sunday Ti
He offers concrete suggestions for making these insights work to your advantage. 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 were able to tease out these two threads, examine them, and use the resulting knowledge to make better decisions.In this provocative book, Michael Mauboussin helps to untangle these intricate strands to offer the structure needed to analyze the relative importance of skill and luck. 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. 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 p
MT57 said 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 "A good introduction to statistics and less of a business self-help book than I expected" according to MT57. 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/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 readers will be familiar with at least some of these contexts. I was not expecting this. 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 readers will be familiar with at least some of these contexts. I was not expecting this. /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 readers will be familiar with at least some of these contexts. I was not expecting this. 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 readers will be familiar with at least some of these contexts. I was not expecting this. Highly enjoyable and comprehensible read. Don 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 three books are insightful and well worth reading.A key motivation of The Success Equa. 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 carefully explaining the difference between luck and skill and how we often mistake one f