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Preview — Think Twice by Michael J. Mauboussin
Think Twice: Harnessing the Power of Counterintuition
Why is it so hard to make sound decisions? We fall victim to simplified mental routine...more
For those who have read MTYK, this book is less useful and pretty repetitive. Most of the points in "Think Twice" (TT) have already been covered in MTYK, although in different depths. TT usually delves deeper on each subject, mostly because the material is not only focused on finance/investing as in MTIK, and because you have less ground...more
Think Twice seems to exist largely to temper the excessess the author perceives in Gladwell and Ariely's works.
Gladwell's popular book, Blink, leads Maubossin to take the opposite corner - that people should "Think Twice" rather than go with their gut. However, he ends his book assuring th...more
His capricious performance evoked what lab researchers call Harvard’s Law, “Under the most rigorously controlled conditions of pressure, temperature, volume, humidity, and other variables, the organism will do as it damn well pleases.” - location 296
people rolling dice throw softly when they want to roll low numbers and hard for high numbers. - location 383
Before the drawing, one o...more
There is something very important to remember when it comes to...more
THINK TWICE is a fantastic book for people interested in decision making. In particular, why we often fail and how we can improve our skills. Mauboussin offers deep insights int...more
In Chapter 4: Situational Awareness: How Accordian Music Boost Sales of Burgundy, MM explains how our judgement is distorted by misperception, knowledge suppression when going against the majority or by distorted perception caused by a mental flaw where we actually perceive the situation differen...more
Research indicates that people buy more German wine when a store’s sound system plays German music in the background and more French wine when it plays French music. However, shoppers claim that the background music has no effect on their wine choices. Most people think that they make rational decisions, even if they do not. In this example, irrelevant, low-level sensory input determines people’s choices. Michael J. Mauboussin, a finance professor and inves...more
Having said that...it is a well-thought out book in which the author reminds readers to be aware of poten...more
i did learn something from it, but most of it are well presented by the books of Malcolm Gladwell. maybe when i get older and more well rounded, i will get to appreciate this book better.
Michael J. Mauboussin is Chief Investment Strategist at Legg Mason Capital Management. Prior to joining LMCM in 2004, Michael was a Managing Director and Chief U.S. Investment Strategist at Credit Suisse. Michael joined CS in 1992 as a packaged food industry analyst. He is a former president of the Consumer Analyst Group of New York and was repeatedly named to Institutional Investors All-America R...more