Investing Lessons from the Best Poker Players

Researchers on game theory say that poker strategies can translate into lessons for investors, according to a recent article in The Wall Street Journal. Carnegie Mellon professor of philosophy Kevin Zollman says that investors dislike losing more than winning and are prone to what behavioral finance refers to as the disposition effect, which leads them to sell assets that have increased in value but hold onto those that have decreased in value. The same behavior… Read More

Annie Duke on Investing, Gambling and Decision-Making

In a recent podcast interview with Bloomberg, legendary poker player Annie Duke—who retired from poker in 2012—explains how “getting used to dealing with noisy data” can serve you well in decision-making, including those involving investments. In the interview, Duke shares insights outlined in her new book, Thinking in Bets: Making Smarter Decisions When You Don’t Have All the Facts. Duke studied cognitive science and was pursuing a doctorate degree before becoming a professional poker player… Read More