Superforecasting: The Art and Science of Prediction

Making predictions and forecasting the future are integral parts of everyday life, yet it’s unlikely individuals realize the amount of predictions one makes in a day. The use of heuristics or “rules of thumb” are ingrained in human psychology and help people quickly determine courses of action with limited information at their disposal. Deciding what…

Nonzero: The Logic of Human Destiny

In Robert Wright’s first book, “The Moral Animal,” Wright examines how evolutionary forces influence the behaviour of individuals, and the impact this has on the human psyche. Though not necessarily billed as a follow-up to ”The Moral Animal,” in “Nonzero,” Wright explores whether there could be a scientific reason to believe that history is directional,…

Bad Blood

Theranos was once considered the darling of Silicon Valley (for an overview, see our past insight here). As a private technology company founded by Elizabeth Holmes in 2003, Theranos purported to have revolutionized blood testing by requiring only a fraction of the blood needed in traditional tests. The company was able to raise more than…

The Man Who Solved the Market

Until recently, stories about the investment management firm Renaissance Technologies and its flagship Medallion fund were relegated to hedge fund mythology and investor folklore. Unverifiable anecdotes around performance numbers trouncing the S&P 500 left many wondering if the team at Renaissance had managed to “crack” financial markets and whether the rumors were too good to…

Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets

For anyone that is familiar with the commonly used finance phrase “Black Swan”, you can thank Nassim Taleb, who popularized the term in 2001 with his book “Fooled By Randomness”. The main theme of the book is that the scientific methods utilized in financial theory tend to lean towards empirical observation, while deductive reasoning is…

Shoe Dog: A Memoir by the Creator of Nike

For entrepreneurs trying to build their own businesses, Shoe Dog by Phil Knight should be on the top of their reading list. The co-founder of Nike Inc., Knight gives the reader an in-depth look at the grit and determination it took to launch the company back in its early years. He also details the trials…

The (Mis) Behaviour of Markets

As any investor will know, there are no defined set of rules in financial markets; investment management is a far cry from a hard science where normal distributions and other statistical methods work well. While it’s common knowledge that many concepts in modern finance have massive shortcomings (e.g. Markowitz’s modern portfolio theory and the efficient…

The Joy of Missing Out

The aphorisms YOLO (you only live once) and FOMO (fear of missing out) have become broadly accepted phrases across many generations during the past decade, and are no longer relegated to just the vocabulary of Millennials or Generation Z. Traditionally associated with living in the moment and the pursuit of self-gratification, there has been a…

The Success Equation: Untangling Skill and Luck in Business

When it comes to hard decisions, humans often have a hard time separating the process of decision-making from the result. The Success Equation: Untangling Skill and Luck in Business, Sports, and Investing by Michael Mauboussin is a great read on how to analytically approach the concept of luck in decision-making, providing insight on how to effectively…

The Moral Animal – Why We Are The Way We Are

For those interested in human psychology and how evolutionary forces can influence the way individuals make decisions, The Moral Animal – Why We Are The Way We Are by Robert Wright is a fascinating read. It explores the science of evolutionary psychology, examining the historical context around how the theory of natural selection was conceptualized…