The World's Best Book Summaries
Why is change so hard? How can you make change stick and keep moving forward? Getting people to change is only half the battle. You also need to make sure that change lasts. Effective change management relies on reinforcing behavior, giving change time, and recognizing the pattern that change follows. Learn about the three keys to effective change management.
How much weight do you give to randomness or uncertainty when making decisions? Do you think success is pure luck? According to Nassim Taleb, randomness is a hugely underestimated factor when it comes to decision-making, especially in fields that are greatly affected by randomness (e.g. trading, economics, and politics). He cites three reasons for our difficulty in appreciating the power of randomness: 1) we’re guided by our primitive brain, 2) we don’t understand probability, and 3) we see meaning when there’s none. Keep reading to learn why we have such trouble comprehending randomness, and how our brain’s wiring makes it
Are you trying to lose weight but are having dieting problems? Is your weight loss plateauing? Are you experiencing side effects? Losing weight is not a straightforward journey—it comes with frustrations, setbacks, and fluctuations. In his book The Hacker’s Diet, John Walker outlines some tips for troubleshooting your weight loss. Here are some of the most common problems that come with dieting.
What was the tulip craze? How could flowers become so valuable in such a short space of time? The tulip craze in 17th-century Holland is widely known as the very first economic bubble. The price of tulips escalated so much that people sold their valuables to buy tulips, and could buy assets like houses with them. This might seem absurd, but here’s an explanation of what happened. Learn more about the tulip craze below.
Do you have a skill that you wish to master? What is the fastest way to achieve mastery? People naturally want to get better at skills and get recognized for their competency. This is mastery. According to Daniel Pink, there are three psychological components to mastery: mindset, pain, and unattainability. In this article, we’ll look at how each component contributes to intrinsically motivated behavior.
What is the difference between technical vs fundamental analysis? Why might a combination of both be the best approach? Technical vs fundamental analysis are the two main methods of security analysis. Technical analysis aims to predict future stock prices using graphs of past price movements, while fundamental analysis opts for an in-depth study of the firms’ balance sheets, taxes, and earnings. Each approach has its advantages and disadvantages. Keep reading to find out the difference between technical vs fundamental analysis.
What is a risk tolerance level? What types of investments are best suited to you? Your risk tolerance level measures how comfortable you are with risk and determines the stocks you should invest in. If you’re nearing retirement (or you want to sleep well at night), you might choose investments with “Low” and “Moderate” levels of risk. If you still have many working years ahead of you (or you’re a thrillseeker who’s willing to suffer sleepless nights), then you might opt for assets with “High” risk levels. Keep reading to find out your risk tolerance level and recommended investments.
What is guaranteed basic income? What are the objections to universal income? Guaranteed basic income is a practice where the government pays each citizen a bare minimum wage every year. The hope is that the guaranteed income will remove the constant worry for survival that leads to depression. Critics have objected on the grounds that it will be very expensive and will make people lazy. Read on to learn more about the advantages and criticisms of guaranteed basic income.
How does having no hope for the future cause depression? Why is it so important for you to feel in control of your life? Having no hope for the future makes it impossible to plan ahead since you can’t picture a better and secure life for yourself. This can cause depression to set in. Being able to envision an attainable, happy life is very important because, without it, you lose control over your life. Loss of control naturally triggers depression. Read more about how having no hope for the future leads to depression.
What is a company’s winning aspiration? Why must a company play to win? A winning aspiration is a statement of what success in the marketplace will look like to a company. Companies must always play to win because it is very difficult to win if you are only trying to compete. Companies that simply try to compete are at risk of being driven out by more aggressive competitors. Read more about the meaning and importance of having a winning aspiration for your company.