No time to reflect for now, but maybe I'll get back to writing about them later.

Books I've read recently but not yet reflected on (maybe am too lazy to do that now):

*The Bed of Procrustes - Nassim Nicholas Taleb

*Madame Sadayakko: The Geisha who Seduced the West - Lesley Downer

*Si Cacing & Kotoran Kesayangannya (1&2) - Ajan Brahm

*True History of the Kelly Gang - Peter Carey

*The Black Swan - Nassim Nicholas Taleb

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Problem Solving 101: a simple book for smart people

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Ok, so I've read some books and not written them down. Some were awesome (Richard Branson's Losing My Virginity), others not so (Grotesque by Kirino Natsuo).

But I'm going to start this year by the first book I finished reading this year, so here goes...

Book: Problem Solving 101: A Simple Book for Smart People

Author: Watanabe, Ken

This book is a handy reference for all those logic you knew but rarely put into practice. In his clear but comprehensive presentation of problem-solving approaches and good practices, Watanabe teaches us, or rather reiterates to us, how to be effective problem solvers for better outcomes in implementing changes, goal-setting and decision making for a better life.

These are the gist of learnings gained from this little gem:

1. Understand the situation--> identify problems-->develop effective action plans-->execute and modify until the problem is solved. Seems straightforward, huh? Dunno about you but the last step is the oft-neglected but most
important step that I'm often guilty of slacking in.

2. Diagnosing the situation and identifying the root of the problem: list down all possible causes-->develop a hypothesis for each possible cause-->establish analysis and information required to test hypothesis-->analyse and identify the root of the problem.

3. Developing solutions: develop various possible solutions to solve the problem-->prioritise action list-->develop implentation plan.

4. Achieving your dreams require the breaking down of a main goal to smaller achievable goals. This much we know. Well, how do you achieve them? Ken's suggestions:

(One): Establish a clear goal.
(Two): Establish the gap between the goal and the current situation.
(Three): Create a hypothesis on how to diminish the gap and reach the goal--write as many possible choices and suggestions, and choose the best suggestions as the hypothesis.
(Four): Check the hypothesis. Return to (three) if unproven. Establish analysis and information required to test the hypothesis, analyse and develop an action plan before choosing the best option.

5. Establishing pros and cons will help us in making choices, one of life's most imminent processes. Watanabe divides this into a two-schemed process. First, write down all choices and list down their pros and cons, then weigh each positive and negative points on the list before choosing the best option. Second, set down the evaluation criteria, set the importance of each criterium and evaluate each option according to the weighted criteria.

6. Have a questioning mind when establishing pros and cons, and be proactive and have a good balance of reflection and action.

The charm of the book lies in its ability to be understood by a fifth-grader and its applicability to a wide range of common problems we face. The lightweight, concise presentation method suits people with a busy schedule, and makes for an enjoyable, breezy, but ultimately enlightening read.

Sanny's rating:
Fun: ★★★★✩
Brain capacity required: ★★★✩✩
Real-life application: ★★★★★
Learning: ★★★✩✩
Inspirational value: ★★★✩✩
Value for time spent: ★★★★✩

Sent using BlackBerry® from Orange

Filed under  //  Author: Watanabe   Book: Problem Solving 101   framework   non-fiction   photo   tips  
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Fooled By Randomness

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Book: Fooled by Randomness

Author: Taleb, Nassim Nicholas

What I'm currently reading now. It was a little tough to understand at first, given that we're not biologically tuned to recognise randomness correctly (as stated in the book) and the probability that I'm one of those fools too. Am helped tremendously by the irreverent, witty and ultimately entertaining way in which Mr Taleb wrote his piece. This may well be one of the best books, in terms of the non-fiction I've read this year. More notes to come (am halfway through now).

Anyway. I've realised I've backtracked in writing my booknotes, so here are what (little) I can remember out of reading this great work. In list form for simplicity's sake.

1. It is better to be lucky than being skilful. But success requires skill as a prerequisite.
2. Be willing to go against general judgment; we are engineered to be probability fools, so by understanding probability we go against the natural grain, literally.
3. Prospect theory & survivorship bias: we tend to gauge our situation not in actual terms, but in relation to other situations around us. Learning to be objective will do us good in terms of feeling and identifying true worth, but it takes practice.
4. According to Hume, we cannot ascertain that all swans are white, but we can be sure that all swans are not white the moment a rare black swan is spotted. This means we need to think in reverse hypothesis to establish certainty.
5. Do not take the world so seriously; it is too random to begin with, and what we can do is condition ourselves to live with this randomness.
6. Learn to differentiate between actual attributes ("right-column") and attributes attributed to randomness ("left-column"). I need to revisit the book on this. (Gotta buy it again. D'oh! Amazon, Amazon.)
7. Be humble and listen to masters of the old for wisdom.
8. Probability, when played over for a reasonable amount of time, peters out. That is why, although having good luck is important, one needs to cultivate real earnings and learning to prepare for "The Black Swan".
9. Instead of losing through the Black Swan event, one can look at it from another perspective and obtain massive gains from it with ample preparation beforehand. i.e., the Taleb Distribution.
10. Nassim Taleb is awesome, and not just because this is a random entry.

After rereading, I may refresh this list again.

Sanny's rating:
Fun:★★★✩✩
Brain capacity required:★★★★✩
Real-world application:★★★✩✩
Learning:★★★★★
Inspirational value:★★✩✩✩
Value for time spent:★★★★✩

Update Jan'10: I finished this book last year and sent it over to my home in Jakarta as I was moving out of London. I was planning to read another book by Taleb, the now-famous The Black Swan. Sigh. The package also contained other books I have yet to read. This is the second time I've lost a book package. Guess the bookstores will love me for all those repeat purchases (of the same books).

Filed under  //  Author: Taleb   Book: Fooled by Randomness   chance   economics   non-fiction   photo  
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Read & Write

I thought that from now on I should keep track of what I'm reading and what I've learnt from it, be it fiction or otherwise. Let's hope that my sharing the books I read would spread the love for words and wisdom even more.

Filed under  //  books   introduction   notes   review  
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