459: Professor of Finance at London Business School, Alex Edmans, on Facts, Data, and Evidence: Knowing What to Trust or Can We Really Trust Evidence?

459: Professor of Finance at London Business School, Alex Edmans, on Facts, Data, and Evidence: Knowing What to Trust or Can We Really Trust Evidence?

What if the greatest threat to smart decision-making isn’t bad data, but how we interpret it?

In a world overflowing with information, even the most seasoned leaders and investors fall for myths dressed up as facts. Not because they’re uninformed, but because they’re human.
In this episode, I sat down with Alex Edmans, Professor of Finance at London Business School and author of May Contain Lies, a powerful new book about how stories, statistics, and studies exploit our biases — and what we can do about it.


Alex draws on decades of research, Wall Street experience, and real-world case studies to unpack why intelligent people fall for misinformation and how we can sharpen our judgment in high-stakes environments.

We talk about:
- The two cognitive biases that drive most bad decisions (and how to spot them)
- Why people crave certainty, and how that blinds them to nuance
- The dangers of “black-and-white thinking” in data and decision-making
- How to build cultures that welcome dissent and intelligent pushback
- Why evidence is not proof, and why context always matters

Alex also shares practical ways to become more discerning, even under pressure, and how to apply these insights in business, leadership, and everyday life.
If you're responsible for making big calls based on research, reports, or expert opinions, this conversation will help you separate signal from noise and think more clearly in a world built on persuasion.

Get May Contain Lies here: https://maycontainlies.com/

Learn more about Alex Edmans here: https://alexedmans.com/

Here are some free gifts for you:


Overall Approach Used in Well-Managed Strategy Studies free download: www.firmsconsulting.com/OverallApproach

McKinsey & BCG winning resume free download: www.firmsconsulting.com/resumepdf

Enjoying this episode? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

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139: The six tools of successful leaders (Monday Morning 8 a.m. #20)

139: The six tools of successful leaders (Monday Morning 8 a.m. #20)

Hello everyone! This is Monday Morning 8 a.m., a weekly newsletter where we distill the insights from all of the distractions, articles, and emails that you receive in your inbox every day. In this newsletter, we’re going to focus on four major themes from last week’s news.    To listen to the audio version of this newsletter, search for “Strategy Skills” in any podcast app. To get a written copy with links to mentioned articles sign up here: www.firmsconsulting.com/promo

22 Maalis 202134min

138: Mothering a strategy (Monday Morning 8 a.m. #19)

138: Mothering a strategy (Monday Morning 8 a.m. #19)

Hello everyone! This is Monday Morning 8 a.m., a weekly newsletter where we distill the insights from all of the distractions, articles, and emails that you receive in your inbox every day. In this newsletter, we’re going to focus on four major themes from last week’s news.    To listen to the audio version of this newsletter, search for “Strategy Skills” in any podcast app. To get a written copy with links to mentioned articles sign up here: www.firmsconsulting.com/promo

15 Maalis 202141min

137: Blair Sheppard, PwC global strategy head and author. On four urgent global crises and their strategic solutions

137: Blair Sheppard, PwC global strategy head and author. On four urgent global crises and their strategic solutions

In today's episode of the Strategy Skills podcast, we have a conversation with Blair Sheppard, Global Head of Strategy and Leadership for PWC. Blair shares his views of looming global crises driven by wealth disparity, technological disruption, the polarization of people, and declining trust in society’s institutions. Blair Sheppard is also the Dean Emeritus and Professor Emeritus of Duke University’s Fuqua School of Business, where he taught for thirty-three years. He was the principal force behind opening Duke's campus in China, and the founder and CEO of Duke Corporate Education. Blair is a regular speaker at high-caliber international forums including the Global Solutions Summit, the St. Petersburg International Economic Forum, and Slush. He was born in Hamilton, Ontario (Canada) and lives in Durham, North Carolina (US). In his new book, TEN YEARS TO MIDNIGHT: Four Urgent Global Crises and Their Strategic Solutions, Blair sets out why that timeline is so crucial, what the most urgent challenges are and the key elements of a solution. The world faces four crises: A crisis of prosperity, with rising inequality, poor life choices for young people, the squeezed middle class and a mass of people on the brink of retirement but lacking the savings to sustain them;  A crisis of technology, as our economic system drives innovation but fails to manage unintended negative consequences which pollute key elements of life support, from our atmosphere to our news; A crisis of institutional legitimacy, as traditional institutions try to maintain their existing structures in the face of major global forces, and find themselves buckling and warping rather than adapting; and, A crisis of leadership, as those who should help us manage these crises instead focus on narrow priorities rather than leading the world towards holistic solutions. Get access to sample training from our advanced programs here: www.firmsconsulting.com/promo We use affiliate links whenever possible (if you purchase items listed above using our affiliate links, we will get a bonus).

11 Maalis 20211h 10min

136: Rethinking M&A (Monday Morning 8 a.m. #18)

136: Rethinking M&A (Monday Morning 8 a.m. #18)

Hello everyone! This is Monday Morning 8 a.m., a weekly newsletter where we distill the insights from all of the distractions, articles, and emails that you receive in your inbox every day. In this newsletter, we’re going to focus on four major themes from last week’s news.    To listen to the audio version of this newsletter, search for “Strategy Skills” in any podcast app. To get a written copy with links to mentioned articles sign up here: www.firmsconsulting.com/promo

9 Maalis 202138min

135: Apple disrupts a decades-old value chain migration (Monday Morning 8 a.m. #17)

135: Apple disrupts a decades-old value chain migration (Monday Morning 8 a.m. #17)

Hello everyone! This is Monday Morning 8 a.m. (#17), a weekly newsletter where we distill the insights from all of the distractions, articles, and emails that you receive in your inbox every day. In this newsletter, we’re going to focus on four major themes from last week’s news.    To listen to the audio version of this newsletter, search for “Strategy Skills” in any podcast app. To get a written copy with links to mentioned articles sign up here: www.firmsconsulting.com/promo

1 Maalis 202138min

134: How to stop blaming Covid and start building revenue growth, with Kent Billingsley

134: How to stop blaming Covid and start building revenue growth, with Kent Billingsley

Welcome to the Strategy Skills podcast, from FIRMSconsulting.com. Today we have a very interesting guest, Kent Billingsley, who is going to talk about sales and the revenue side of management consulting. And about using the tools and techniques that he developed in his consulting career which he now applies in almost any kind of industry. We rarely talk about sales. So we thought it will be nice to do a podcast where we dive into this topic. Get Kent's book "ENTREPRENEUR TO MILLIONAIRE: How to Build a Highly Profitable, Fast-Growth Company and Become Embarrassingly Rich Doing It": https://amzn.to/3dU6aPN

26 Helmi 202158min

133: The single biggest strategy shift for the next few decades (Monday Morning 8 a.m. #16)

133: The single biggest strategy shift for the next few decades (Monday Morning 8 a.m. #16)

Hello everyone! This is Monday Morning 8 a.m. (#16), a weekly newsletter where we distill the insights from all of the distractions, articles, and emails that you receive in your inbox every day. In this newsletter, we’re going to focus on four major themes from last week’s news.    To listen to the audio version of this newsletter, search for “Strategy Skills” in any podcast app. To get a written copy with links to mentioned articles sign up here: www.firmsconsulting.com/promo

22 Helmi 202140min

132: Apple car & Amazon's core strategy (Monday Morning 8 a.m. #15)

132: Apple car & Amazon's core strategy (Monday Morning 8 a.m. #15)

Hello everyone! This is Monday Morning 8 a.m. (#15), a weekly newsletter where we distill the insights from all of the distractions, articles, and emails that you receive in your inbox every day. In this newsletter, we’re going to focus on four major themes from last week’s news.    To listen to the audio version of this newsletter, search for “Strategy Skills” in any podcast app. To get a written copy with links to mentioned articles sign up here: www.firmsconsulting.com/promo

15 Helmi 202135min

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