Skip to Main Content
Decide and Conquer: The Ultimate Guide for Improving Your Decision Making, Second Edition
book

Decide and Conquer: The Ultimate Guide for Improving Your Decision Making, Second Edition

by Stephen P. Robbins
October 2014
Intermediate to advanced content levelIntermediate to advanced
224 pages
4h 10m
English
Pearson
Content preview from Decide and Conquer: The Ultimate Guide for Improving Your Decision Making, Second Edition

23. I Only Like Change That Jingles in My Pocket: The Familiarity Bias

The oldest and strongest emotion is fear, and the oldest and strongest kind of fear is fear of the unknown.

—H. P. Lovecraft

Warren Buffett and Peter Lynch created massive financial dynasties by following the mantra of “invest in what you know.” Buffett has amassed a personal net worth of more than $60 billion by admitting that he doesn’t buy companies whose products or services he doesn’t understand. In 1999, he told Fortune magazine that “I don’t understand technology.”1 Buffett continues to buy companies whose businesses he does understand—like See’s Candies, GEICO Insurance, Dairy Queen, Fruit of the Loom, and the Burlington Northern Railroad.

Between the years 1977 and ...

Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Start your free trial

You might also like

Guide to Decision Making: Getting it More Right than Wrong

Guide to Decision Making: Getting it More Right than Wrong

Helga Drummond

Publisher Resources

ISBN: 9780133966862Purchase book