TOP BOOKS - "RISK PHILOSOPHY"
Risks are all around us - it is something most of us try to hide from or at lease minimize. However, risk can be an "asset" in the long run if managed properly. Here are a few favorite books on RISK
“Listen, business is easy. If you’ve got a low downside and a big upside, you go do it. If you’ve got a big downside and a small upside, you run away.” - Sam Zell
The tale of risk is as old as humanity itself. Every decision we make is a trade off between perceived upside and downside. Sometimes risk can be knowable to some extent, other times it remains a complete mystery
Perhaps the most dangerous of all risks are the ones that we confidently believe we actually know and can predict
There are a lot of great books on the History of Risk, Risk Management, and how to think in terms of odds and risk/rewards. Below I have selected five of my favorites
“Against the Gods” - By Peter L. Bernstein
“Fooled by Randomness” - By Nassim Taleb
“The Signal and The Noise” - By Nate Silver
“The Black Swan” - By Nassim Taleb
“Thinking in Bets” - By Annie Duke
For a full list of favourites in all categories (Startups, VC, Maths, Computing, Physics, Technology, Science, Fiction, Essays etc.) see link below
1. “AGAINST THE GODS - The Remarkable Story of Risk” by Peter L. Bernstein
One of my favorite books on the history and evolution of human thought when it comes to risk and risk management
2. “FOOLED BY RANDOMNESS - The Hidden Role of Chance in Life and in the Markets” by Nassim Taleb
A must read for anyone working with risk management, particularly in Finance
3. ”THE SIGNAL AND THE NOISE - The Art and Science of Prediction” by Nate Silver
A classic for understanding the challenges of prediction, in everything from markets to politics. Nate Silver also has a fantastic blog: FiveThirtyEight
4. ”THE BLACK SWAN - The Impact of the Highly Improbable” by Nassim Taleb
The term “Black Swan” entered popular English due to Nassim Taleb’s book, though many misunderstand its meaning. If you haven’t read it already, you probably should
5. ”THINKING IN BETS - Making Smarter Decisions When You Don’t Have All the Facts” by Annie Duke
Annie Duke is a World Poker Champion and world class “decision management consultant”. Great book and easy book on decision making in non-transparent environments when you don’t have all the data you need (or would wish you had)
Affiliate: I’ve always been a huge fan of reading physical books that I can hold in my hands, but as adulthood started demanding more and more of my calendar I’ve become a huge fan of Audible.
Would highly recommend trying the 30-day free option and see what you think:
About Author: After training as a robotics engineer, I spent nearly a decade as a consultant working on strategy development for global corporations and startups
Now I spend my time strategizing on the Future of Tech, building systems to faster identify and understand new technologies, and thinking about how new technologies will impact sectors and business models across industries
You can also find me and more of my thinking on: LinkedIn, Twitter, Website