How Base Rates Can Help You Make Forecasts More Accurate

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Base rates help us with that forecasting because you can look up for anything like, for example, should you go to Florida on a vacation to Miami in September of next year. And then the other thing is getting other people's perspective on the same information that we're looking at. So base rates are an important step in helping us to make those forecasts and make those forecasts more accurate.

Annie Duke is author, corporate speaker, and consultant in the decision-making space. For two decades, Annie was one of the top poker players in the world. In 2004, she bested a field of 234 players to win her first World Series of Poker bracelet. The same year, she triumphed in the $2 million winner-take-all, invitation-only World Series of Poker Tournament of Champions. She retired from the game in 2012. Annie is author of multiple wonderful books, including Thinking in Bets, How We Decide, and her latest being Quit: The Power of Knowing When to Walk Away.

In this episode, Annie talks about why life is like poker and not chess, how to make sound decisions, the power of quitting, and much more.

To know more about this initiative, check out:

https://www.vishalkhandelwal.com/

https://www.safalniveshak.com/

To know more about my book - The Sketchbook of Wisdom - which Morgan Housel calls "a masterpiece," please visit - https://book.safalniveshak.com