4min chapter

The Tim Ferriss Show cover image

#659: Michael Mauboussin — How Great Investors Make Decisions, Harnessing The Wisdom (vs. Madness) of Crowds, Lessons from Race Horses, and More

The Tim Ferriss Show

CHAPTER

I'm Increasingly Skeptical About Experts, Right?

I'm increasingly skeptical about experts. I think the pressure on experts is coming from two different directions. The first is algorithms, so basically rules that we write down outperform many experts in many different fields. There's a lot of evidence that crowds, the wisdom of crowds is better than experts in quotes. But in certain domains, again, you should listen to experts.

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