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Podcast: Read & Repeat
Episode: EP43 The Success Equation by Michael Mauboussin
Description: Michael Mauboussin’s book “The Success Equation” walks through how to distinguish skill from luck and its impact on everything from investing to sports. Mauboussin is the author of one of my favorite books of all time, Expectations Investing, and this one has similarly powerful insights. He teaches us how to develop skill through deliberate practice and how to overcome stronger opponents as an underdog. He also shares the counterintuitive paradox of skill, where as skill improves, luck becomes even MORE important, a framework affecting financial markets and sports leagues today. Lastly, Mauboussin shows us the value of persistence in ski...