Just finishing Nassim Nicholas Taleb’s Fooled by Randomness and just finishing the NCAA basketball tournament. What do these two events have in common? Well in it Taleb discusses how we rely on past performance too much, how survivor and hindsight biases effect our decisions and the value we place on things.
I filled out two tournament brackets and with the knowledge that never before have more then two number 1 seeds made the final four. The phrase “Never before have more then two number 1 seeds made the final four” played over and over again in my mind as I filled out my brackets.
Imagine my dismay as I watched Kansas beat Davidson last night to ensure that four number 1 seeds were in the final four.
My life is filled with semi-randomness at the moment. The book made for timely reading indeed.
