cj001

[Daniel Mahncke @MnkeDaniel]

The most Influential Biases on your Decision-Making:

1. Illusion of Skill - We regularly confuse luck with skill because we solely focus on outcomes.

2. Recency Bias - We tend to put too much weight on recent events.
3. Anchoring - Our judgment is heavily screwed by the first information we are given about something.

4. Regression - We love to see cause-effect relationships where none exist.

Everything, always, regresses to its mean!

5. Hindsight Bias - In retrospect, events seem more predictable than they actually were.

6. Halo Effect - You either like or dislike everything about someone or something. Nothing in between.

7. Loss Aversion - Losses weigh twice as much as the equivalent gain.

Because of that, we reject gambles where chance would favor us.

8. Commitment Bias - We have a tendency to remain committed to our past behaviors and opinions.

Particularly when expressed publicly, even if they do not have desirable outcomes.

9. WYSIATI - What you see is all there is.
You can't consider what you don’t know.

Paradoxically, knowing less also increases your confidence about being right.

What Bias did I miss?

[The Secret CFO @SecretCFO]

We are taught that costs are either fixed or variable:

o Fixed Costs = Costs fixed in $ regardless of output
o Variable Costs = Vary directly in $ with output

But that isn't the full story ...

[cj001 @cj001_001]

Just finished None of This Is True by Lisa Jewell | Goodreads https://t.co/Ba0nbGMc7C

[cj001 @cj001_001]

Just finished Jojo Moyes Someone else's shoes: a novel https://t.co/x2lbJxGIUK

[cj001 @cj001_001]

Just finished "Butterfly: From Refugee to Olympian - My Story of Rescue, Hope..." https://t.co/wYmzeKF715

[cj001 @cj001_001]

Just finished "Hello Beautiful: THE INSTANT NEW YORK TIMES BESTSELLER" by Ann Napoli... https://t.co/5d1KRJfCAk

[cj001 @cj001_001]

@CathrynR Yes

[cj001 @cj001_001]

@CathrynR @WOOLWORTHS_SA Agreed!

[cj001 @cj001_001]

Just finished "The 5 AM Club: Own Your Morning. Elevate Your Life." by Robin Sharma https://t.co/0q4tAWlF9I

[cj001 @cj001_001]

Just finished "The Girl With No Past: A gripping psychological thriller" https://t.co/5lRTXafVPb

[cj001 @cj001_001]

Just finished "Just Like You" by Nick Hornby https://t.co/8s5JazmlKr

[cj001 @cj001_001]

@LoyisoKula 😳😡

[cj001 @cj001_001]

Check out this book: "The Feel The Fear Guide To... Lasting Love: How to create a..." https://t.co/p3UdmM6DAB

[cj001 @cj001_001]

Check out this book: "Girl, Wash Your Face: Stop Believing the Lies About Who Yo..." https://t.co/FDJnhwD1CG

[Jonathan Jansen @JJ_Stellies]

I met Mmusi Maimane a few times. He really is a wonderful, decent human being whom I admire. Which is precisely why he would not survive in the cesspool of politics. For that job you need at least some attributes of a gangster

[cj001 @cj001_001]

@kumeshwest @UCTGSB Wow! That’s a great title to have! Congratulations on your recognition!

[News24 Business @News24_Business]

https://t.co/9Lxca48Uyi | Ferial Haffajee: How much more pressure can the middle class take before it cracks? https://t.co/Lt3aOWqSt4

[cj001 @cj001_001]

@CathrynR 😂 @CathrynR I think the pilchards is key here!

[cj001 @cj001_001]

Aqewue w at a

[cj001 @cj001_001]

Just finished "The Woman in the Window: The Top Ten Sunday Times bestselling..."