Episode · The Tim Ferriss Show · 2023-03-03
Books mentioned on #659: Michael Mauboussin — How Great Investors Make Decisions, Harnessing The Wisdom (vs. Madness) of Crowds, Lessons from Race Horses, and More
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Books mentioned, in the order they came up
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Think twice
Think Twice: Harnessing the Power of Counterintuition is a compelling book by Michael J.
Discussed“think twice harnessing the power of counterintuition which I've mentioned several times on this podcast”
Where to get it
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Expectations Investing
Expectations Investing by Michael J.
Discussed“Michael is also Alo co-author with Alfred Rapaort of expectations investing reading stock prices for better returns.”
Where to get it
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Creating Shareholder Value
Creating Shareholder Value is a foundational corporate finance book by Alfred Rappaport that outlines principles for running businesses to maximize long-term returns for investors.
Discussed“Guy in my training program gave me a copy of Al Rapaort's book called Creating Shoulder Value which was published in 1986.”
Where to get it
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Consilience
Consilience by E.O.
Discussed“So I was very taken in the late 1990s by a book called Consilience by Eo Wilson”
Where to get it
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The Wisdom of Crowds
The Wisdom of Crowds by James Surowiecki is a well-known book examining how information markets, collective intelligence, and group decision-making function.
Recommended“is is using some of the language from Jim Swiggy's great book the wisdom of crowds which came out probably in 2004 2005”
Where to get it
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The Difference
Scott E.
Recommended“And Scott's written a number of great books. The difference is his big book on this.”
Where to get it
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Against the gods
Against the Gods: The Remarkable Story of Risk by Peter L.
Discussed“One is Against the Gods, the remarkable story of Risk.”
Where to get it
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Complexity
Complexity by M.
Discussed“And the other is Complexity by Mitchell Waldrip, if I'm getting that pronunciation right.”
Where to get it
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Behave
Behave by Robert M.
Recommended“You know, he wrote a book called Behave in 2017, which is, I would say, probably the best book I've ever read on human nature.”
Where to get it
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Why Zebras Don't Get Ulcers
Why Zebras Don't Get Ulcers by Robert M.
Recommended“So he wrote a book called Why Zebras Don't Get Ulcers in the mid 1990s, which is it's a wonderful title and it's a wonderful book about the idea of stress.”
Where to get it
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Expert Political Judgment
Expert Political Judgment by Philip E.
Discussed“you know, Phil Tetlock's the first book I read of his was in the mid I think 2006 2007 called expert political judgment”
Where to get it
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The Art of Learning
The Art of Learning by Josh Waitzkin is a deeply reflective book detailing the author's journey from a prodigy in chess and martial arts to mastering the principles of peak performance and learning.
Recommended“By the way, the art of learning is fabulous. I'm a huge fan.”
Where to get it
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The Nurture Assumption
The Nurture Assumption by Judith Rich Harris is a provocative work of psychology and developmental science that challenges conventional parenting wisdom by arguing that peer groups and genetics play a far more decisive role in shaping children than parental upbringing.
Discussed“First of all, her background is very interesting because she was sort of shunned from a PhD program in psychology, but went on to like write textbooks and was basically an independent scholar. You know, one of the premises I think most people operate with is that parents are really important in how their children's turn out. And I think”
Where to get it
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Superforecasting
Philip E.
Recommended“There's just a quote which I love and I find myself repeating it often and it says, "Beliefs are hypotheses to be tested, not treasures to be protected."”
Where to get it
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Fooled by Randomness
Fooled by Randomness by Nassim Nicholas Taleb is a popular exploration of the massive role that chance, luck, and probability play in human success, finance, and everyday life.
Discussed“Now, Nasim Talab wrote a book called a fool by randomness in 2001.”
Where to get it
Other mentions in this episode (2) — ad reads, self-promotion and passing references, never counted
“Michael is the author of many books including the success equation subtitle untangling skill and luck in business sports and investing”
“I recommended it long ago in my 2010 number one New York Times bestseller, The 4-Hour Body, and I did not get paid to do so.”