We behave according to what we bring to the occasion. Our beliefs affect how we process all new things, whether the ‘thing’ is a football game, a presidential candidate, or spinach…. There are exactly two things that determine how our lives turn out: the quality of our decisions and luck. Learning to recognise the difference between the two is what thinking in bets is all about…. In our decision-making lives, we aren’t that good at taking this kind of perspective – at accessing the past and future to get a better view of how any given moment might fit into the scope of time. It just feels how it feels in the moment and we react to it…. We make a long-term stock investment because we want it to appreciate over years or decades. Yet there we are, watching a downward tick over a few minutes, consumed by imagining the worst. What’s the volume? Is it heavier than usual? Better check the news stories. Better check the message boards to find out what rumours are circulating.... Life, like ...
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