New book; HBR, The Success Equation: Untangling Skill and Luck in Business, Sports, a

[DJofSD]

The complete title is "The Success Equation: Untangling Skill and Luck in Business, Sports, and Investing."

http://hbr.org/product/the-success-e...10957E-KND-ENG

Could be good. If I had nothing else to read, I'd read this. Perhaps it might be of interest to others on this site.

[thaskalos]

I read the author's other book, MORE THAN YOU KNOW...and I thought it was excellent.

[Robert Goren]

You can save about $10 by getting it at Amazon in both hardcover and kindle editions. It is going on christmas lists.

[Dave Schwartz]

Ordered. Thank you.

Dave

[DJofSD]

Originally Posted by Dave Schwartz

Ordered. Thank you.

Dave

Please post back any first impressions you would care to share.

TIA

[Dave Schwartz]

Just getting started but here is an interesting quote, very applicable to racing:

“There are a lot of areas where people who have experience think they're experts, but the difference is that experts have predictive models, and people who have experience have models that aren't necessarily predictive.”

Distinguishing between experience and expertise is critical because we all want to understand the future and are inclined to turn to seasoned professionals with good credentials to tell us what is going to happen.



Mauboussin, Michael J. (2012-10-16). The Success Equation: Untangling Skill and Luck in Business, Sports, and Investing (Kindle Locations 434-435). Perseus Books Group. Kindle Edition.

[Dave Schwartz]

I have read this book far enough to know that, while the subject matter is somewhat interesting, it contains nothing that will help me to understand more than I did before.

If you like this sort of thing and have lots of time/money to spend on books, go for it. Otherwise, I'd give it 1 star out of 5 for content.

Dave

[dkithore]

I found this book (Success Equation by Mauboussin) engaging in some respects and a easy read. Based on the first quick scan, I came away with few tangible ideas as they apply to our sport. Skill vs. luck is the intriguing idea and like some feed back from astute handicappers. Your opinion as to how much is skill and percent you attribute to luck as they relate to success (+ROI).

In my opinion, skill and luck are 50-50. Of course, contender selection being the domain of skill and outcome, the luck.

[baconswitchfarm]

Long term, it is skill-99% and luck 1%.

[Robert Fischer]

good find on the book.

I've got a couple hundred business/poker/horseracing ebooks sitting in a folder that I haven't read yet.

From reading the blurb, it looks more like a book that will entertain and stimulate.

I may wait on this one. I do have 57 Harvard Business Review editions in .pdf in that collection (some of which can be found on torrents).

[Robert Fischer]

overall it's mostly talent and skill.

just don't get hit by a bus or something.

[DeltaLover]

Originally Posted by baconswitchfarm

Long term, it is skill-99% and luck 1%.

This is what I call a BOLD STATEMENT

What makes you to believe so?

[raybo]

Originally Posted by baconswitchfarm

Long term, it is skill-99% and luck 1%.

If one is betting single horses to win, and is successful, then luck carries a lower percentage. If one bets multiple horses to win, and is successful, then luck is still lower, regarding all his selections, but regarding "which" of those horses actually wins, luck is probably a higher percentage. Hope that makes sense, upon re-reading it, I'm not so sure.

Basically, luck, in racing can be with you, or against you. I believe it tends to even out over time.

[DJofSD]

Define: skill, luck.

[Greyfox]

Originally Posted by DJofSD

Define: skill, luck.

Quote attributed to Arnold Palmer, Gary Player, and Tom Watson depending on the source:

"The more I practice, the luckier I get."