Part 2/14:
A central theme revolves around Annie Duke’s influential book Thinking in Bets, which advocates for viewing every decision as a probabilistic bet rather than a certainty. Duke combines insights from psychology and poker to teach disciplined, adaptive thinking. In an environment filled with incomplete information, the key is constant updating—challenging assumptions, evaluating scenarios based on expected outcomes, and recognizing that most decisions are made under uncertainty. This mindset helps investors avoid panic and maintain focus on strategic, data-driven choices.