Subject: Re: Apple
“Exactly. Annie Duke refers to this as "resulting." She defines it as the tendency to judge the quality of a decision solely based on its outcome, ignoring the roles of process, luck, and uncertainty.”

Howard Marks also wrote a great memo "You Bet!" (2020) available on the Oaktree site. He references Annie Duke’s wisdom often, and he focuses on the parallels between investing and gambling and the error in “resulting”.