The Extreme Version of the Efficient Market Hypothesis

It’s tempting to see patterns in the random kaleidoscope of everyday experiences, but it's also dangerous.

Along with his business partner Warren Buffet, vice-chair of Berkshire Hathaway Charlie Munger has made billions of dollars but, by his own admission, he would have made billions more if only he’d made better decisions. He joins Professor Steven Pinker to discuss defying the odds and the dangers of over-interpreting coincidences. They hear why Tim Harford, economist, presenter of ‘More or Less’ and author of ‘How to Make the World Add Up: 10 Rules for Thinking Differently About Numbers’ thinks a stock-picking cow can help us make sense of a complicated world.

Producer: Imogen Walford Editor: Emma Rippon

Think with Pinker is produced in partnership with The Open University.