March Madness starts Thursday, but don’t fill out your brackets just yet.
Jon Wertheim, a senior writer at Sports Illustrated and co-author of the new book “Scorecasting: The Hidden Influences Behind Sports,” suggests delaying as much as possible. He sat down recently with Need to Know correspondent Win Rosenfeld and offered four tips for winning your office March Madness pool. Werthheim’s tips apply lessons from the field of behavioral economics — and from decades of reporting on sports.
“Think about yourself as an investor,” Wertheim said. “This is not a nest egg, right? I mean, you’ve got to win this pool now. You’re not in this for value-investing, right? You’ve got 68 teams, you need some variance. If you pick every top seed, you’re going to end up like the guy who has a very conservative portfolio. And you’ll do fine, but you’re not going to win. So you’ve got to make a couple of crazy picks.”