"Poker is about becoming comfortable with the fact that there is no such thing as a sure thing – ever. You will never have all the information you want, and you will have to act all the same," writes Maria Konnikova in her fascinating book The Biggest Bluff. I picked up the book not because I wanted to learn to play poker and increase my chances of beating my husband, who regularly plays (over Zoom) with friends. What interested me were life lessons from the author, who is a keen student of human nature.
The game of poker offers a myriad of insights into personal finance. As my colleague, Tim Maurer, reminds us, personal finance is more personal than finance. Take investing -- it's less about knowing the markets than it is about knowing yourself and your capacity for risk, and putting guardrails in place to keep your plans from veering off course. It’s about understanding your financial decisions and the reasoning behind them. Whatever the question on your mind – from market risks to planning for the next generation, I hope you will find a gem or two that will give you a deeper insight into your financial self.
And if you would like to learn how to use the tools of a con artist to your benefit, check out Konnikova's keynote at the Worlds Economic Forum at Davos.
Dream. Plan. Prosper.