3min chapter

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Rational Minds Part 5: Heuristics Make Us Smart - Gerd Gigerenzer

The Joe Walker Podcast

CHAPTER

The Turkey Elotion

The distinction with the risk and uncertainty is a continuum. You need to look at facts at numbers, but also realize that in numbers that you have, or numbers from yesterday, and the future may be different. That's the limit of big data. If you're in a stable world where the future is like the past, use big data,. rely on it, fine-tune your algorithms about the past and try to optimize. The more you are in situation of uncertainty, so investment is a typical situation of uncertainty.

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