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Your Judgment of Risk Is Compromised

Harvard Business Review

We will pay far more for a medical operation that increases our chance of surviving from 0% to 1% than one that increases it from 10% to 11%. The financial crisis of 2007-2008 was partly due to an over-reliance on mathematical models and a corresponding failure to exercise judgment. Embracing Risk in Career Decisions.

Tversky 12
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Could a Four-Year-Old Do What Carl Icahn Does?

Harvard Business Review

He did have a horrific 2008. And now, just after passing the average life expectancy for an American male , he seems to be in the midst of the best run of his career. r>g: Economist Thomas Piketty’s formula for spiraling wealth inequality, in which the rate of return on capital is higher than economic growth, has its critics.

Hedge 8