E237 Olivier Sibony - How to Reduce Noise, Think Strategically and Make Smarter Investing Decisions
Olivier Sibony is a professor, author and advisor specializing in the quality of strategic thinking and the design of decision processes. Olivier is Professor of Strategy at HEC Paris. He is also an Associate Fellow of Saïd Business School in Oxford University, and has taught at London Business School, Ecole Polytechnique, ENA, IE Madrid, and other institutions. Previously, he spent 25 years with McKinsey & Company in France and in the U.S., where he was a Senior Partner.
Tyler and Olivier’s discussion focused on noise, the unwanted variability in our judgement. Topics included understanding noise, remedies to reduce noise, and how we can make smarter investing decisions.
Highlights include:
Defining judgement, variability and unwanted variability
Where noise comes from and why we’re susceptible to it
Understanding level, occasion and pattern noise
The only way to remove noise entirely
Techniques to reduce noise in investing, including leveraging the wisdom of crowds, weighing and comparing criteria uniformly and more
Why it’s important to consider the cost of noise reduction before acting on it
Noise versus cognitive bias
How to make decisions in evolving, uncertain circumstances
Why you should resist the temptation to learn too much from your mistakes
Connect with Olivier:
Website: http://www.oliviersibony.com
LinkedIn: https://www.linkedin.com/in/oliviersibony/
Twitter: twitter.com/siboliv
The following books were mentioned in the show:
Noise by Olivier Sibony, Daniel Kahneman, Cass Sunstein
Thinking Fast and Slow by Daniel Kahneman
Churchill by Andrew Roberts
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