Simple and obvious rules of thumb are powerful. Do they always work? Of course not, but they work most of the time in most situations. Nassim Nicholas Taleb writes in his book, Antifragile: Things That Gain from Disorder, about this “Less is more” idea. Simple ideas are not perfect, but they are not meant to be. They are “fast and frugal,” designed to “make good decisions despite limited time, knowledge, and computing power.”
Read More