Do you want to improve your decision-making a build a better mental toolkit? In this episode we explore the psychology behind making better decisions with Michael J. Mauboussin.Michael is the Head of Global Financial Strategies at Credit Suisse. He is the author of three books, including More Than You Know: Finding Financial Wisdom in Unconventional Places, named in the The 100 Best Business Books of All Time. Michael also serves as an adjunct professor of finance at Columbia Business School.We discuss the following topics: -The interconnectedness of knowledge across many different disciplines-How to switch to the “outside view” to make better predictions and decisions-How to improve your results without being any smarter or better trained -A fascinating psychology study that demonstrates how we deceive ourselves-The biggest biases that cause investors to make bad decisions (and how to combat them)-Why the right tools aren’t enough to make you a successful investor-Concrete steps to start down the path of better decision-making-How to understand the difference between luck and skill in complex fields like business, investing, and entrepreneurship-How to become “numerate” and understand the physics and mathematics of misjudgment-What statistical base-rates are and how they can improve your decisions-How reversion to the mean really works and why you’ve been misunderstanding itLearn more about your ad choices. Visit megaphone.fm/adchoicesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.