Chapter
Understanding Complex Adaptive Systems and Markets
1:43:16 - 1:48:53 (05:37)
This podcast explores the concept of complex adaptive systems and how they relate to markets. It notes that although these systems are difficult to manage, understanding their behavior is key to unraveling why markets are so hard to beat.
Clips
The complexity and unpredictability of markets make it difficult to manage, but understanding the recognition system can be liberating for investors.
1:43:16 - 1:45:53 (02:37)
Summary
The complexity and unpredictability of markets make it difficult to manage, but understanding the recognition system can be liberating for investors. Markets are hard to beat, but they periodically go haywire due to the challenges of managing a complex adaptive system.
ChapterUnderstanding Complex Adaptive Systems and Markets
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 complex adaptive systems, explored in the book Complexity, covers a wide range of fascinating topics.
1:45:53 - 1:48:03 (02:09)
Summary
The concept of complex adaptive systems, explored in the book Complexity, covers a wide range of fascinating topics. John Holland, who coined the term, was also a titan in the field.
ChapterUnderstanding Complex Adaptive Systems and Markets
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 quote "beliefs are hypotheses to be tested, not treasures to be protected" holds great power in challenging treasured beliefs.
1:48:02 - 1:48:53 (00:50)
Summary
The quote "beliefs are hypotheses to be tested, not treasures to be protected" holds great power in challenging treasured beliefs. A book, The Psychology of Intelligence Analysis, dives deeper into the idea of testing beliefs without attachment.