Written by a former World Series of Poker champion turned business consultant, "Thinking in Bets
talks about how to systematise our thinking about making decisions under uncertainty because that's what we do as investors, just like poker players or gamblers," says Marks who was inspired by the book to pen one of his famous memos.
"We have to make decisions when there is hidden information and when random events will be very influential and how we do that I think is very important."
"My favourite quote from that book is that the expert only makes better guesses than anybody else. When you're dealing with the future, all your prognostications are guesses and the expert merely is a better guesser in the field of his expertise. I think that's a great thought for people to bear in mind."
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