How to survive in a world where luck and randomness play a pivotal role. Topics covered include: Show Notes Redacted messages to and from Elon Musk—Delaware’s Court of Chancery Elon Musk’s Texts Shatter the Myth of the Tech Genius by Charlie Warzel—The Atlantic Talent Versus Luck: The Role of Randomness In Success and Failure by Alessandro Pluchino, Alessio Emanuele Biondo, and Andrea Rapisarda Susan Alexandra Welcome to Susan Alexandra’s Dream World by Sophia … [Read more...]
224: Mastering the Market Cycle – Howard Marks
How to position your investment portfolio based on market cycles. Investing principles from Howard Marks' new book Mastering the Market Cycle. In this episode you’ll learn: How have U.S. stocks performed relative to non-U.S.How to position investment portfolios based on cycles.What is asset selection and why there are more opportunities in extreme times.How luck and skill play a roll in investing. Show Notes The ‘Dumb’ Money Is Bailing on U.S. Stocks. That’s Smart. - Jason … [Read more...]
203: Is Investing More Like Poker or Chess?
How to make better investing and life decisions. In this episode you’ll learn: Show Notes Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts by Annie Duke Thinking Fast and Slow by Daniel Kahneman The Tao of Pooh by Benjamin Hoff Trying Not to Try: Ancient China, Modern Science, and the Power of Spontaneity by Edward Slingerland Episode Sponsors Intercom Rxbar Wunder Capital Episode Summary David asks the question, “Is … [Read more...]
MNY031 Plus: Luck versus Skill
In this week's Money For the Rest of Us Plus episode, I discuss: Boethius' view on luck, skill, fate and providence from his book written in the early Middle Ages and how he foreshadowed complex adaptive systems. How complex systems have local uncertainty and global certainty. What is a narrative fallacy. How creativity functions within a complex adaptive system. The episode length is 17 minutes. … [Read more...]
31: The Role of Luck In Success
How luck and skill intertwine to make you successful. In this episode, you'll learn: Why most successful people point to luck as the reason for their success.Henry David Thoreau's view of luck.Why we need skill to take advantage of luck.Why we should pursue complex domains.Why we need to take big leaps.Why we should avoid boredom. Show Notes Hack The Entrepreneur Podcast Creativity: Flow and Psychology of Discovery and Invention by Mihaly Csikszentmihalyi Walden by … [Read more...]
