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 Fast and Slow … [Read more...]
