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Think Twice: Harnessing the Power of Counterintuition

Key insights from Michael J. Mauboussin's

Think Twice: Harnessing the Power of Counterintuition


Key insights from Michael J. Mauboussin's

Think Twice: Harnessing the Power of Counterintuition

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Length:
7 minutes

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Avoid making bad decisions by learning from others' mistakes.

The biggest errors in decision-making often occur because we don’t think twice. We’re oblivious to unconscious psychological forces, rely too much on past successes or expert opinions, fail to adjust for circumstances, succumb to inertia, and don’t see change coming. Although primarily intended for investors and others in the business world, this book acts as a reminder to all professionals that thinking twice is the best advice for making informed decisions and enjoying positive outcomes.

Read this Snapshot if you:

  • Want to avoid the trap of tunnel vision
  • Are interested in how your subconscious affects your decisions
  • Want to understand the role luck and skill play in our successes and failures
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Introduction

In Think Twice, author Michael J. Mauboussin illustrates eight common mistakes that result in unwanted outcomes. He includes examples of each, as well as strategies to use to avoid them. By scrutinizing what commonly goes wrong, it’s possible to learn what makes things go right.

The book explores eight ways to avoid common mistakes:

Take the outside view by researching similar situations.

Be open to options and avoid tunnel vision.

Don’t rely solely on experts.

Be aware of each unique situation and respect the role of context.

Know that the total is greater than the sum of the...

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