In Episode 406, David and Camden visit with Annie Duke about how to better manage our investment portfolios including when and what to sell. We also discuss a number of behavioral finance topics such as mental accounting, sunk costs, and goal myopia. Annie Duke is an author, speaker, and consultant in the decision-making space, as well as Special Partner focused on Decision Science at First Round Capital Partners, a seed-stage venture fund. Annie’s latest book, Quit: The Power of Knowing … [Read more...]
379: Do We Even Need Leaders?
How societies have functioned without leaders, including leaderless megacities that survived over 800 years. Topics covered include: Is geopolitics more like chess or pokerWhy analysts think Putin will soon agree to a settlement with UkraineDo most development occur from the top-down or bottom-upWhat are some examples of leaderless societies and organizationsHow social capital and enforcement mechanisms allow the world to function without leaders telling everyone what to doHow … [Read more...]
203: Is Investing More Like Poker or Chess?
How to make better investing and life decisions. Photo by Michał Parzuchowski In this episode you’ll learn: What is the difference between chess and poker. Why we need to separate the decision process from the outcome. How to improve the quality of our investment decisions. What are are wu-wei and qi and what role do they play in better decision making. Show Notes Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts by Annie Duke Thinking … [Read more...]
