Trend Following With Michael Covel

My guests today are Gerd Gigerenzer and Brian Wansink. Gigerenzer is currently director of the Center for Adaptive Behavior and Cognition (ABC) at the Max Planck Institute for Human Development and director of the Harding Center for Risk Literacy. Wansink is the John Dyson Professor of Marketing and the Director of the Cornell Food and Brand Lab in the Department of Applied Economics and Management at Cornell University.  The topics are Gigerenzer's book Risk Savvy: How to Make Good Decisions and Wansink's book Slim by Design: Mindless Eating Solutions for Everyday Life. In this episode of Trend Following Radio we discuss: Covel and Gigerenzer discuss the differences between Daniel Kahneman and Gigerenzer's views; heuristics vs. statistics; the notion of medical check-ups, prostate cancer, and the PSA test; taking risks, and instincts vs. expert advice; relative vs. absolute risk; Benjamin Franklin's ledger, heuristics, and romance; intuition, facts, unconscious intelligence, and gut decisions; being risk sa