
Thinking in Bets:
Making Smarter Decisions When You Don't Have All the Facts
National Besteller • “A big favorite among investors these days” - The New York Times
DIFFICULTY
intermediate
PAGES
289
READ TIME
≈ 420 mins
DIFFICULTY
intermediate
PAGES
289
READ TIME
≈ 420 mins
About Thinking in Bets
In Thinking in Bets, former poker champion Annie Duke turns the uncertainty of the card table into a framework for better decision-making. Her central idea is simple but radical: judge decisions by the quality of your thinking, not by whether you got lucky. Most of us “result” — assuming a good outcome means a good choice — when what really matters is how we framed the bet in the first place.
Duke treats every decision as a wager under uncertainty. You’ll never know everything, but you can clarify odds, weigh trade-offs, and improve your judgment through feedback. She shows how to run pre-mortems, track your assumptions, and create truth-seeking groups that prize curiosity over ego. Thinking in Bets teaches a mental habit that separates confident thinkers from overconfident ones — a way to stay rational when life deals you incomplete information.
What You'll Learn
- Think in probabilities and expected value instead of certainties
- Tools like pre-mortems, backcasting, and scenario planning
- Belief calibration with base rates, Bayesian updating, and better feedback loops
- Accountability, dissent, and decision groups to reduce bias and overconfidence.
- Track choices to learn systematically from results
Key Takeaways
- Separate outcome from decision quality
- Seperating skill from luck
- Embrace probabilistic thinking
- Form truth-seeking decision groups
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