Risk Savvy: How to Make Good Decisions

Risk Savvy: How to Make Good Decisions Hardcover

by Gerd Gigerenzer  (Author)

An eye-opening look at the ways we misjudge risk every day and a guide to making better decisions with our money, health, and personal lives
In the age of Big Data we often believe that our predictions about the future are better than ever before. But as risk expert Gerd Gigerenzer shows, the surprising truth is that in the real world, we often get better results by using simple rules and considering less information.
In Risk Savvy, Gigerenzer reveals that most of us, including doctors, lawyers, financial advisers, and elected officials, misunderstand statistics much more often than we think, leaving us not only misinformed, but vulnerable to exploitation. Yet there is hope. Anyone can learn to make better decisions for their health, finances, family, and business without needing to consult an expert or a super computer, and Gigerenzer shows us how.
Risk Savvy is an insightful and easy-to-understand remedy to our collective information overload and an essential guide to making smart, confident decisions in the face of uncertainty.

Editorial Reviews

From Booklist

Numbers may not lie, but they are certainly often misunderstood, according to German psychologist and risk analyst Gigerenzer. We make poor decisions on an array of issues, from health-care screenings to investment decisions to planned outings, because we blindly rely on data that may be incorrectly interpreted and reported. Gigerenzer draws on psychology, sociology, and math to explain how data can start off clear and end up murky by the time it reaches its intended audience, leaving us helpless to make sound decisions about the risks involved. He notes that the risk of cancer is often misinterpreted and can lead to overzealous screenings and that Americans irrationally refused to fly after the 9/11 terrorist attacks even though the risk of being killed in an auto accident is much greater. Gigerenzer cautions readers to always look for a reference point when data is quoted and to understand the difference between relative and absolute risk. This is a highly accessible look at the importance of data and the equally great importance of clearly understanding data. –Vanessa Bush

About the Author

Gerd Gigerenzer is the author of Gut Feelings. He is currently the director of the Max Planck Institute for Human Development in Berlin, Germany, and lectures around the world on the importance of proper risk education for everyone from school-age children to prominent doctors, bankers, and politicians.

 

About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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