3 Review(s)

Think Twice: Harnessing The Power Of Counterintuition by Michael J. Mauboussin focuses on a disciplined approach to making decisions and how one can avoid costly mistakes. Summary Of The Book From medicine and law, to education and politics, decision making is a crucial part of everyday life. Making decisions at the higher level is undoubtedly tougher as these choices affect many people. Think Twice: Harnessing The Power Of Counterintuition outlines how we can avoid making fatal mistakes that can harm the organisation and the people. In 8 chapters, the book discusses the common mistakes that people make while making decisions. The book discusses how the brain works when the stakes are high. In spite of our logical reasoning, our brain can succumb to situational or social influences. The book focusses on how we can learn to “think twice” and harness the power of counterintuition. The book discusses how we can apply the appropriate mental tools to make better decisions. Mauboussin shows us how to recognise and avoid the common mistakes that we make. Open to Options, Situational Awareness, Evidence of Circumstance, Sorting Luck from Skill, and The Outside View are some of the topics discussed by the author. According to him, misunderstanding the cause-and-effect link, oversimplifying complex problems, aggregating the micro-level behavior to predict macro-level behavior, ignoring alternative possibilities when making a decision, and relying a lot on expert opinion are some of the common mistakes that we make while making decisions. He offers some powerful rules to avoid such errors. Think Twice: Harnessing The Power Of Counterintuition includes engrossing stories and powerful research from the world of sports, business, and science to highlight the common mental errors and practical advice on how we can correct them. The book also explains how to identify when we need to think twice and make an effective decision even if it seems counterintuitive. About Michael J. Mauboussin Michael J. Mauboussin is a professor, chief strategist, and writer from the US. He has authored The Success Equation: Untangling Skill and Luck in Business, Sports, and Investing, More Than You Know: Finding Financial Wisdom in Unconventional Places and Expectations Investing: Reading Stock Prices for Better Returns. Michael is currently the managing director and the head of Global Financial Strategies at Credit Suisse. He has been the President of the Consumer Analyst Group of New York. He previously served as the Chief Investment Strategist for Legg Mason Capital Management. He teaches finance at Columbia Business School and Heilbrunn Center for Graham & Dodd Investing. Michael completed his Bachelor’s degree in Government from Georgetown University. Michael’s works have been featured in prominent publications like the Wall Street Journal, NPR, Fortune, SmartMoney, and Forbes. He currently resides in Connecticut.