It’s surprising how few of us do. We call everyone investing money “investors” like they’re basketball players, all playing the same game with the same rules. When you realize how wrong that notion is you see how vital it is to simply identify what game you’re playing.

The main thing I can recommend is going out of your way to identify what game you’re playing. It’s surprising how few of us do. We call everyone investing money “investors” like they’re basketball players, all playing the same game with the same rules. When you realize how wrong that notion is you see how vital it is to simply identify what game yo

If you have strong analytical skills that might be applicable in a number of disciplines, it is very much worth considering the strength of the competition. It is often possible to make a profit by being pretty good at prediction in fields where the competition succumbs to poor incentives, bad habits, or blind adherence to tradition—or because you

if you play enough poker, sooner or later, after thousands of hands, everybody in the game will more or less have been dealt the same amount of good hands, bad hands and mediocre hands. What determines the winners? It's how they play the cards that were dealt them. Were they alert and ready to exploit the good ones? Did they perceive that the bad o