The Success Equation, untangling skill and luck in business, sports, and investing is a book that puts numbers in perspective of sports and business. The writer Michael Mauboussin shows with his two other books, More than you know and Think Twice, that he is located in the spectrum of Behavioral Finance as well.
People usually have a favourite sport and by looking from that perspective to statistics makes it easier to understand them. The book has 233 pages and in those pages clear case studies are mentioned and in that way numbers are becoming quite clear for the reader. However, if those numbers are still not clear enough for you then Mauboussin has a website for you. On www.success-equation.com are five simulations and with those simulations you can let numbers vary. Afterwards, the results are in a visually clear way presented to you.
Investment professionals tend to attribute good results immediately to skill. However, after reading this book you will see that skill is probably overrated. You will understand the factor named luck more and you will see this in top sport as well. Anyone can kick a football, but that does not make you Lionel Messi…
In 11 chapters the many aspects of skill and luck are mentioned. In the last chapter, ten guidelines are written down to stimulate your personal development and to let statistics really work for you!
OpinioPro vs The Success Equation
Taking action is often the rule, so to undertake nothing seems not an option. Choices are mostly supported by… statistics. However, in an investment committee not only statistics are brought forward – arguments are also part of the discussion. In that situation, it is very valuable to know the pros and cons. OpinioPro is a platform made for professional investors in order for them to find visions on the topic that is at issue in their organization in a fast way. Visions of both supporters and of opponents!
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