Farnam Street
Mastering the best of what other people have already figured out
Our desire to feel good about ourselves permeates everything we do. Wanting to maintain a positive self-image often leads us to adopt a biased image of the world. If we want to learn to align …
“Their judgment was based more on wishful thinking than on a sound calculation of probabilities; for the usual thing among men is that when they want something they will, without any reflection, leave …
Everyone has an opinion on what to teach at business school. Few are as informed or timeless as Charlie Munger, the billionaire business partner of Warren Buffett at Berkshire Hathaway. Here’s …
Ray Dalio, the sixty-one-year-old founder of Bridewater Associates, the world’s biggest hedge fund, offers the following management advice. Dalio says “Taken together, these principles are meant to …
We owe thanks to the publishing industry. Their ability to take a concept and fill an entire category with a shotgun approach is the reason that more people are talking about biases. Unfortunately, …
Hindsight bias occurs when we look backward in time and see events are more predictable than they were at the time a decision was made. This bias, also known as the “knew-it-all-along …