Taking risks and risk management is something that everyone could benefit from being more aware of. Whether this is so you can make more calculated life choices, business choices, or even take to the gambling table in a more effective way, all of this will be made simpler if you have a strong hold on risk management. There are many great books available for people to read that dive deeper into risk management and how we can take risks in a better way.
The Biggest Bluff: How I Learned to Pay Attention, Master Myself and Win by Maria Konnikova
This is a book that explores the psyche of someone who is into gambling. It applies specifically to poker players but could be applied to other online gambling and also just taking risks in general. Written by author and psychologist Maria Konnikova, this book dives deep into how psychology can be used as a means to predict the behavior of others. It all comes together in a way that shows people how they can gamble in a way that takes on the least amount of risk.
For instance, it could be applied to online gambling sites now, which have become such an integral part of the way that people gamble. Naturally, in the online versions of games such as poker, being able to predict behaviour without having the normally facial and bodily facial clues is pivotal to success. Mastering risk management and having a strong grasp of the mathematical side of games are important tools to have. This also applies to betting because bettors need to find value wherever they can and determine how much of their bankroll to use.
With the sports betting industry being highly competitive, sites are looking for ways to stand out from the crowd and this can range from the number and variety of games available to the payment methods that are offered. As a result of this, review sites help consumers navigate through this crowded space by assessing the options based on various factors including whether they use trustworthy payment methods such as Paypal. Having these sites do the legwork ensures consumers get the best value for their money.
Psychology of Intelligence Analysis by Richard Heuer Jr.
Richard ‘Dick’ Heuer used to work for the CIA as an intelligence analyst and as such he knows a great deal about the challenges that come with making a decision in a split second. He contributed towards some notable work, which includes studying the controversial subject of Yurly Nosenko, who was a Russian defector to the US during the Cold War era.
What this book does is focus Heuer’s ideas on how you can assist analysts in improving on the limitations of the human mind when it needs to deal with complex problems, which can apply to various areas including trading and personal financial decisions. Upon reading, you’re going to gain some valuable insight on how you help risk managers sharpen their analytical tools that are required when assisting themselves or others in making sound decisions. This is done by considering objective data.
Against the Gods: The Remarkable Story of Risk by Peter Bernstein
This is one of the best risk books that you could read as Berstein and his book takes readers through the history of risk, specifically back when taking risks was more attached with the favours of the Gods rather than within the control of human reasoning.
It all starts with the ancient Greeks who were able to understand risk when it came to moving forward with mathematical discoveries. With Bernstein’s book, you’re going to be taken on a museum-esque tour of how they achieved what they did.
Why are these books helpful?
These books are incredibly helpful regardless of what you are hoping to take away from them. They can improve your business mindset, make you more suited to deal with social situations and also improve people’s ability to play games such as on online casino games.