The Biggest Bluff

By Maria Konnikova

Konnikova caught my attention during an interview I watched on TV on a Sunday morning a week or two ago. Loved her story, research and felt I just had to read her book. Her research is about the role of luck, Psychology, analysis, biases in decision-making trying to figure out how they affect your decision-making – those interacting with you. Like other games and sports, Texas Hold’em has the beauty of providing immediate feedback and decide how to adapt and re-test. From the beginning to the end, the mantra is, just pay attention.

As Statistician, I inevitably enjoyed the discussions. Is there such thing as a hot hand? What role does Psychology play, how can you blend it with strategy and analysis to gain a superior edge? Luck and variance are always a factor in strategy. How do you deal with it? Understand it and adapt.

Those without an understanding of Texas Hold’em will not get their value for the time and money. You will have to endure some unnecessary foul language and read quite a bit before reaching the meaty decision-making insightful pieces. I believe I have an understanding and thoroughly enjoy the occasional Texas Hold’em games with my former Partners, Incae professors and friends at the Country Club in Costa Rica. However, I do consider myself a less than average player which I felt was enough to allow me to enjoy the book end-to-end.