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Lessons From Poker
It’s hard to be happy playing poker because the losses hurt much more than the happiness you gain from winning. Instead, focus on the process.
There’s this huge asymmetry between how sad people are when they lose versus how happy they are when they win. It’s one of those things that, unless you’re really focused on the process. This is a lesson for all of life, the way to happiness is to focus on the process.
Be aware of the self-serving bias: We tend to attribute good things to our own skill, and we tend to attribute bad things that happen to us to luck.
14
221 reads
MORE IDEAS ON THIS
In order to really succeed at the top levels of the game, you have to be so open-minded. You have to be so willing to ponder on a daily basis the idea that you might be wrong, the idea that the things that you think to be true or what you think about an opponent — that...
ANNIE DUKE
12
239 reads
It’s Hard For People To Make Bets That Hedge Against Their Identity
People will hedge against disaster with fire insurance but are less likely to hedge against their marriage with a prenup (only about 5% of married couples have a prenup).
We have this idea that if we do hedge against something, somehow if the bad thing happens, we caused it. And this is pa...
10
246 reads
Can Thinking Probabilistically Make Our Decisions Worse Rather Than Better?
- If you’re in savannah and you hear rustling in the grass, you don’t want to spend time thinking about the probability that it’s a lion.
- When making bets with friends, it’s probably best to not make any bets that can be interpreted as negative, such as betting your friend’s kid won’...
12
324 reads
I do think that one of the things that poker teaches you is that you shouldn’t assume that just because people are really skillful in one domain that that’s going to transfer. Because I think that that ability can be very, very domain-specific.
ANNIE DUKE
11
246 reads
Traits of Top Poker Players
The top 500 poker players tend to be brilliant in game theory and in making real-time, high-stakes decisions.
Just because you’re smart doesn’t mean that you can become a great player. you have to be smart in a very particular way.
You need to be curious about being wrong and stay op...
11
210 reads
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The Journey Is What Matters
In our culture, we tend to focus on outcomes. Winning versus losing.
In the martial arts, process is growth, regardless of outcome. As we grow old we need not stop growing.
From Outwards to Inwards
Happiness seekers have to go beyond the notions of good or bad and learn to accept things as they are.
A mature approach to happiness is to focus less on the circumstances that make people happy, and more on how people can achieve happiness in uncertain and insecure conditions too.
Is Happiness 'Overrated'?
As 99 per cent of the world believes they are incapable of achieving greatness, they aim for a mediocre life. The level of competition is fiercest amongst those battling to achieve “realistic” goals. Therefore, there is less competition for bigger goals. ...
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