We Study Billionaires - The Investor’s Podcast Network
Business:Investing
Kyle Grieve chats with Annie Duke about her own story of quitting and how it helped sparked the idea for one of her books, the importance of base rates in helping us make better decisions, how to improve our investing processes when we have long feedback loops, the importance of using kill criteria to quit an investment or hypothesis, how to use a quitting coach to help you quit things we hold onto for too long, the importance of dissociating ourselves from our most cherished ideas, and a whole lot more!
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
02:28 - Annie's own story of quitting and how it got here to where she is today.
15:50 - Why expected value is so crucial for investors to manage risk best.
20:15 - The importance of understanding base rates.
20:15 - How we can use base rates to help us best understand expected values of our investments.
24:55 - How we can reframe our analysis of a business to close feedback loops on long-term investments.
32:40 - How we can get transfer from one skill to another far away skill (e.g. chess to investing).
45:28 - How we can use kill criteria in our investing decision-making to improve our abilities to quit a losing investment.
45:28 - How to engineer your decision-making to give yourself an outside view.
51:11 - How we can disassociate ourselves from our investments to reduce the impacts of the endowment effects.
51:32 - How to set up a quitting coach by permitting them to disagree with you.
And so much more!
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
SPONSORS
Support our free podcast by supporting our sponsors:
HELP US OUT!
Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!
Learn more about your ad choices. Visit megaphone.fm/adchoices
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
BTC134: Bitcoin Integration Into Gaming with André Neves (Bitcoin Podcast)
Classic 23: Lessons from Billionaire Peter Thiel
TIP558: How Ackman & Taleb Profited Billions During Market Crashes w/ Scott Patterson
BTC133: Creating a New Libor on Bitcoin w/ Jesse Shrader (Bitcoin Podcast)
TIP557: Mastermind Q2 2023 w/ Tobias Carlisle and Hari Ramachandra
TIP556: 100 to 1 in the Stock Market by Thomas Phelps
BTC132: Mental Models For Understanding Bitcoin w/ Anil Patel (Bitcoin Podcast)
RWH027: High-Quality Investing w/ Christopher Begg
TIP555: Lessons from the World's Greatest Capital Allocators
BTC131: Positioning For the Bitcoin Boom w/ Tuur Demeester (Bitcoin Podcast)
TIP554: Mental Models for Successful Investing w/ John Jennings
TIP553: Why Hard Assets are Positioned to Outperform w/ Tavi Costa
BTC130: Inscriptions & High Fees On Bitcoin L1 w/ Tuur Demeester (Bitcoin Podcast)
TIP552: Mastering the Art of Investing: A Deep Dive w/ Sam Zell
TIP551: Berkshire Hathaway Annual Shareholders Meeting 2023
BTC129: How the IMF and World Bank Sell Exploitation As Development w/ Alex Gladstein (Bitcoin Podcast)
TIP550: Masterclass w/ Mohnish Pabrai
TIP549: 2 High-Quality Compounders
BTC128: Evolving w/ the Technium w/ Kevin Kelly (Bitcoin Fundamentals)
TIP548: Berkshire Hathaway Masterclass 2023 w/ Chris Bloomstran
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
What Bitcoin Did with Peter McCormack
Money Girl
So Money with Farnoosh Torabi
The YNAB Podcast
Money Tree Investing