A Gambler’s Guide To Investing & Life w/ Annie Duke (RWH015)
发布时间 2022-10-15 23:45:01 来源
摘要
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William Green chats with Annie Duke, the best-selling author of “Thinking in Bets,” “How to Decide,” and “Quit.” After winning over $4 million as a poker player, Annie quit the game, became a leading expert on decision-making, & now advises portfolio managers & venture capitalists. Here, she draws on unique personal experience & deep research to share practical lessons on how to counter our cognitive biases & make better investment decisions.
IN THIS EPISODE, YOU’LL LEARN:
00:00:00 - Intro
00:12:15 - How Annie Duke got sick, quit academia, & became a professional poker player.
00:18:17 - How poker taught her to “embrace uncertainty” & recognize the limits of what we know.
00:27:38 - How a legendary poker champion taught her to think more rationally about luck & loss.
00:34:15 - Why it’s important to think probabilistically—and how to strengthen this skill.
00:38:49 - How Annie helped a venture capital firm to improve its decision-making process.
00:45:14 - What skills & insights can be transferred from the game of poker to the game of investing.
00:49:02 - Why Annie never owned Bitcoin or NFTs.
00:52:52 - How to develop “kill criteria” that will help you decide when to sell an investment.
00:58:38 - Why we tend to make terrible investment decisions when we’re losing money.
01:07:50 - How to think rationally about whether to quit your job.
01:11:01 - How our sense of identity & tribalism can wreck our ability to revise our beliefs.
01:23:17 - Why Daniel Kahneman has a “quitting coach”—and why you should have one, too.
01:38:18 - Why it’s invaluable to open your mind to other people’s dissenting views.
🖊️ Access the transcript and learn more about the guest here: https://www.theinvestorspodcast.com/richer-wiser-happier/betting-better-in-markets-life-w-annie-duke/
📖 BOOKS MENTIONED:
- Quit: The Power of Knowing When to Walk Away by Annie Duke: https://amzn.to/3rMwSji
- Thinking in Bets by Annie Duke: https://amzn.to/3EyUIGH
- How to Decide by Annie Duke: https://amzn.to/3EyryaS
- Richer, Wiser, Happier by William Green: https://amzn.to/3RX9gDp
Disclosure: Some of the links above are affiliate links that we may earn commission from. This helps keep our show going! 😀
💡 OTHER RESOURCES
- Seeking Alpha is a crowd-sourced content service for financial markets. Take control of your financial future — Use our link here for a 14-day free trial: https://www.sahg6dtr.com/59QC8Z/R74QP/
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On Richer, Wiser, Happier, William Green interviews high-profile guests such as Howard Marks, Joel Greenblatt, and Ray Dalio. Exploring what they can teach us about how to succeed in markets and life.
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