Chapter
Strategies for Problem-Solving
29:17 - 45:15 (15:57)
The speaker discusses a taxonomy of types of problems and the most efficient ways to solve them, using the analogy of the different categories of awards at the Oscars.
Clips
In this podcast, the speaker discusses the taxonomy of problem-solving and the importance of cognitive diversity in harnessing the wisdom of crowds.
29:17 - 35:07 (05:49)
Summary
In this podcast, the speaker discusses the taxonomy of problem-solving and the importance of cognitive diversity in harnessing the wisdom of crowds. The speaker also mentions the famous social psychology experiment by Solomon Asch about the value of group decision-making.
ChapterStrategies for Problem-Solving
Episode#659: Michael Mauboussin — How Great Investors Make Decisions, Harnessing The Wisdom (vs. Madness) of Crowds, Lessons from Race Horses, and More
PodcastThe Tim Ferriss Show
The speaker discusses using statistical methods to predict Oscar winners and how the standard error decreases as sample size grows, with the ability to apply these principles depending on one's goals.
35:07 - 38:06 (02:59)
Summary
The speaker discusses using statistical methods to predict Oscar winners and how the standard error decreases as sample size grows, with the ability to apply these principles depending on one's goals.
ChapterStrategies for Problem-Solving
Episode#659: Michael Mauboussin — How Great Investors Make Decisions, Harnessing The Wisdom (vs. Madness) of Crowds, Lessons from Race Horses, and More
PodcastThe Tim Ferriss Show
The concept of orders of thinking in markets is explained by Peter Bernstein's book "Against the Gods", which details the first, second and third order of thinking.
38:07 - 45:15 (07:08)
Summary
The concept of orders of thinking in markets is explained by Peter Bernstein's book "Against the Gods", which details the first, second and third order of thinking. He also wrote "Capital Ideas" which covers the history of finance.