Michael Lewis
12 key ideas across 2 books, each explained in our own words.
The Undoing Project
- IDEA 1
An unlikely partnership
Kahneman was cautious and self-doubting; Tversky was confident and brilliant. Together they produced ideas neither could have produced alone.
- IDEA 2
Heuristics
People rely on shortcuts like representativeness (judging by similarity) and availability (judging by what comes to mind). They work often but fail predictably.
- IDEA 3
Experts fall for it too
In experiments, doctors, statisticians and generals made the same judgement errors as everyone else.
Moneyball
- IDEA 1
Find mispriced assets
The Oakland A's found baseball valued the wrong traits. Getting on base mattered more than looks or batting average, and it was cheap.
- IDEA 2
Data over gut
Statistics revealed value that traditional scouts missed because they trusted appearances.
- IDEA 3
Compete with less money
A poorer team can win by buying what the market undervalues.
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