● Running Against the Herd: Battling Biases to Make Better Investment Decisions
Eddie Perkin
Summary via publisher (Columbia U. Press)
Why do smart, capable individuals and teams so often make poor decisions? Running Against the Herd offers new answers to this question by blending insights from behavioral economics with hard-earned lessons from a twenty-five-year investing career. Eddie Perkin draws on his extensive experience leading global investment teams to identify biases that shape our decisions, not just in markets and boardrooms but also in sports, gambling, and everyday life. He shows how groupthink and mental shortcuts—from anchoring and framing to short-termism—impair judgment and shares practical tools to counteract them. Through real-world examples and data from hundred-million-dollar investment decisions, Perkin demonstrates that success depends less on predicting the future than on designing teams and processes that challenge assumptions, welcome dissent, embrace uncertainty, and learn from mistakes.