Invest Like the Best with Patrick O'Shaughnessy

Alex Sacerdote - How to Invest Through Technology Cycles - [Invest Like the Best, EP.477]

The companies that tend to win in technology are the ones that are able to identify the inflection point on the S-curve early enough to make a big bet, but not so early that they run out of capital before the market develops. The penalty for being too early is often indistinguishable from being wrong.

Invest Like the Best with Patrick O'Shaughnessy

Alex Sacerdote - How to Invest Through Technology Cycles - [Invest Like the Best, EP.477]

The way I think about it is that the most dangerous time to own a technology business is when it's currently executing well but the next curve is about to start. Because what happens is all your best people, all your resources, all your management attention is focused on scaling and perfecting the current curve, and the new curve looks tiny and unimportant by comparison.

It's Been a Minute

Who needs to know where you are?

You don't have to trust that they're telling you the truth. You just get to see it. So it's also a different type of information.

Freakonomics Radio

677. Can Backgammon Save Us from Ourselves?

It brings strangers together. It teaches probability, strategy, and emotional control. It has even helped N.F.L. teams win the Super Bowl.

Invest Like the Best with Patrick O'Shaughnessy

Dan Loeb - Lessons from 30 Years of Investing - [Invest Like the Best, EP.475]

The thing about activism is that there's a forcing function. You've done all this work. You own the stock. You think there's value. But the management may be destroying value or not realizing the value, and at some point you have to do something about it or you're just going to sit there and watch your investment go to zero.

Invest Like the Best with Patrick O'Shaughnessy

Alex Sacerdote - How to Invest Through Technology Cycles - [Invest Like the Best, EP.477]

The business of investing in technology is really the business of identifying where you are on the S-curve, because most of the money that's ever been made in technology investing has been made by people who correctly identified that they were in the early innings of a very long S-curve, and most of the money that's ever been lost has been by people who thought they were in the early innings when they were actually in the late innings.

Invest Like the Best with Patrick O'Shaughnessy

Dan Loeb - Lessons from 30 Years of Investing - [Invest Like the Best, EP.475]

I think the biggest lesson I've learned is that the market is a discounting mechanism for the future, not the present. And what that means is that when things look the darkest, that's often when the best opportunities exist, and when things look the brightest, that's often when the risk is highest.

TED

How to Google Your Symptoms Without Freaking Out | John Whyte | TED

Information isn't knowledge. Remember the phrase TMI? Do people still say that? Too much information. Typically, we would say it about what? We'd say it about someone's giving you too much personal information. Makes you feel awkward. Maybe a little anxious. Well, TMI also is around health. Too much information, when you're searching for your symptoms, actually can create anxiety, can actually be dangerous.

Invest Like the Best with Patrick O'Shaughnessy

Dan Loeb - Lessons from 30 Years of Investing - [Invest Like the Best, EP.475]

I think the most important lesson I've learned is that the ability to change your mind is probably one of the most important traits an investor can have. People confuse consistency and stubbornness, and they also are worried about how they look if they change their views.

Daily Stoic

The Stoic Mind Behind D-Day

Plans are worthless, but planning is everything. He understood that you had to plan and anticipate and imagine every contingency. And yet, he also understood fundamentally this other Stoic idea, which is there some things in our control and some things aren't.

Pivot

Who’s Really to Blame for "60 Minutes" Chaos? | Pivot

When you're in an industry that's in structural decline and you have a product that's up 9% year-on-year. You don't [ __ ] with it,

Hidden Brain

Unleashing Your Creativity

Psychologist Ap Dijksterhuis explores the hidden mental processes that lead to these moments of inspiration, and why breakthroughs often emerge when the mind is at rest.

Invest Like the Best with Patrick O'Shaughnessy

Dan Loeb - Lessons from 30 Years of Investing - [Invest Like the Best, EP.475]

I've always thought of myself as a learning machine. The moment I think I know everything or I've seen everything or I've experienced everything, I become a worse investor. The best investors I know are voraciously curious and are always trying to update their models and their thinking.

Daily Stoic

The Stoic Way To Lead Without Ego

Complicated things come together the same way every time. A set of Legos. Instructions to build a Ferrari. Complex things change as you interact with them. So, the question asked is it more like building a watch? Is it more like raising a teenager?

The New York Times

These Teens Are Choosing Trade Classes to AI-Proof Their Futures

This generation, especially, you really have to think about what you're going to do. Because if your plan is not future-proof, the world is going to eat you.

Compound Interest

Anthony Pompliano Thinks You're Smarter Than Your Financial Advisor

You can drastically outperform the advice coming from somebody whose job is to not get fired.

The Prof G Pod

Scott Answers: Is AI Replacing Middle Management? | Office Hours

Management is an ability to soften the chaos created by leaders. They're the ones that actually remember why this actual [ __ ] company works.

Pivot

3 Massive IPOs. Scott Galloway Predicts a Crash | Pivot

Every election is a choice, not a marriage proposal. We're not hiring a priest, we're hiring a senator.

Hidden Brain

Unleashing Your Creativity

For centuries, people have described creativity as something mysterious: a flash of insight, a whisper from the muse, a sudden idea that seems to arrive out of nowhere.

Invest Like the Best with Patrick O'Shaughnessy

Dan Loeb - Lessons from 30 Years of Investing - [Invest Like the Best, EP.475]

I think the most dangerous thing is to think that you've mastered the markets. The markets are going to teach you a lesson just when you get most confident. And so the most important thing is to maintain a kind of intellectual humility and a curiosity and to never stop learning.

EconTalk

Making Your 80,000 Hours Count (with Benjamin Todd)

Most people end up in their jobs through a combination of accident and inertia. They don't really think carefully about what they could do with their career. And yet your career is probably the biggest opportunity you have to do good in the world, if that's what you care about.

Freakonomics Radio

The Curious Mr. Feynman (Update)

the world is awash in lousy ideas — so maybe it's time to get some more Feynman in our lives?

EconTalk

Making Your 80,000 Hours Count (with Benjamin Todd)

"Follow your passion" turns out to be a trap. Chasing a big paycheck barely moves the happiness needle. And being a doctor has a smaller impact than you might think, says Todd.

Invest Like the Best with Patrick O'Shaughnessy

Dan Loeb - Lessons from 30 Years of Investing - [Invest Like the Best, EP.475]

I think the most important thing in investing and in life is having the right temperament to deal with uncertainty and the unknown. Most people, when confronted with uncertainty or unknowing, they become fearful, and their decision-making is impaired. The best investors I know are actually energized by uncertainty because they see it as an opportunity.

Semafor

Leading Through Transformation with BCG & Lumen Technologies at Semafor World Economy

The market's not going to get any less crazy. It's the change economy. That's where we are. So, I don't really think we can look outside for calm. I think we have to have ways of creating calm inside.

TED

Waymo’s Case for a Driverless Future | Tekedra Mawakana, Sal Khan | TED

People are really comfortable with the number of people who die on the roads. 40,000 people dead, 1.2 million globally and avoidable in many cases, isn't something upon which we share collective outrage or even moderate discomfort.

Invest Like the Best with Patrick O'Shaughnessy

Darren Farber on Iran, China, and the Rise of Neoprimes - [Invest Like the Best, EP.474]

We recorded this conversation in the middle of the Iranian contingency, and we spent most of our time on what winning actually means in a theater like Iran.

Throughline

Prediction markets are making a 150-year comeback | Throughline

Because you have the option to bet on bombs being dropped, on people dying, events that will have huge impacts on real people's lives.

Origins Podcast

Origins Podcast: Moral Economics with Nobel Laureate Alvin Roth: From Prostitution to Kidney Markets

If only we allowed it to. But what generally gets in the way is something called repugnance, which we'll get to. And um and that we that we should overcome our a priori ideas when they're wrong, which is what science is all about.

Origins Podcast

Origins Podcast: Moral Economics with Nobel Laureate Alvin Roth: From Prostitution to Kidney Markets

Reason and empirical evidence should be applied to public policy and could make the world a better place if only we allowed it to. But what generally gets in the way is something called repugnance

Radiolab

Worth

This episode makes three earnest, possibly foolhardy, attempts to put a price on the priceless. We figure out the dollar value for an accidental death, another day of life, and the work of bats and bees as we try to keep our careful calculations from falling apart in the face of the realities of life, and love, and loss.

Semafor

Essential Leadership Traits for the Future with BCG's Christine Barton at Semafor World Economy

Real optimists are not cynics. You want critics in the organization, you don't want cynics because cynics don't trust you. Critics want to challenge the logic, they want to challenge the thinking, they want to interrogate, but it's not distrustful.

EconTalk

Thinking Inside the Box (with David Epstein)

that boundaries, and not unlimited freedom, often make us more creative, productive, and fulfilled

TED

5 Practical Ways to Take Control of Your Life | Jim VandeHei | TED

That all of them maniacally focus on controlling life's variables that you can control. You control you.

Invest Like the Best with Patrick O'Shaughnessy

Paul Tudor Jones - Lessons From 50 Years in Markets - [Invest Like the Best, EP.469]

Trading is like a constant battle of risk management and patience, where he identifies the rare moments where he can take a truly big swing.

Prof G Pod

Scott Answers: Is AI Making Markets Crash-Proof? | Office Hours

If you think you're a stock picker, just keep in mind you're competing against an algorithm that looks at millions of points of data designed by a ton of PhDs making a lot of money all in a room who do nothing but try and pick up on signals. And you're watching CNBC or deciding because you see a long line outside of Chipotle that you're somehow informed on the markets.

The Prof G Pod

We Legalized Sports Gambling. Now We're Paying for It.

It's another thing to have a frictionless gambling app on your phone where you can lose multiple mortgage payments on Malaysian women's doubles badminton, right?

The CEO Signal

Allstate CEO Tom Wilson On Trust, Purpose, And Why CEOs Should Speak Up

CEOs need to stand up and decide what's important to them, what's important to their customers — and take a stand.

The a16z Show

Ben Horowitz - "Your ONLY job is Right Product, Right Time"

a founder's primary responsibility comes down to one thing: delivering the right product at the right time

Office Hours

Should You Still Be Trying to Own a Home? | Office Hours

Chasing home ownership for some sort of psychological benefit when it doesn't make any sense is not a great idea.

TED

The Art and Science of Wine Tasting | Qian Janice Wang | TED

Chemical complexity in the glass does not necessarily equal perceived complexity when people are rating the wine.

EconTalk

Thinking Inside the Box (with David Epstein)

boundaries, and not unlimited freedom, often make us more creative, productive, and fulfilled

Compound Interest

Wonder’s Marc Lore On Vibe-Coding Restaurants, Drone Delivery, & Becoming "The IPO Guy"

I've learned this lesson that anything fun, you know, in life, you usually lose money on until until sports.

The Business of Tech

The Business of Tech: AI is eating market research

when the stakes are high, and you need genuine nuance, synthetic just isn't good enough.

Invest Like the Best with Patrick O'Shaughnessy

Paul Tudor Jones - Lessons From 50 Years in Markets - [Invest Like the Best, EP.469]

Trading is like boxing — you have to have your hands up, you have to be ready to move, and you have to understand that the moment you get hit, you need to get out of the ring and reassess.

Invest Like the Best with Patrick O'Shaughnessy

Paul Tudor Jones - Lessons From 50 Years in Markets - [Invest Like the Best, EP.469]

Trading is like boxing—you have to have a sustained ability to take a punch, and then know when to throw the big one.

The CEO Signal

Dan Schulman, Verizon CEO, on AI, Layoffs & Punching Back | The CEO Signal

For the last several years, we've basically gently ceded market share to the other players in the industry. And I came in and said, that's a no-go. That is unacceptable. We're going to win in the marketplace.

The Business of Tech

How algorithms are quietly rewriting the state

Many pilots rely on self selected enthusiasts, vendor methodologies, and rough time saved calculations rather than robust measures of service quality or error rates.

Fresh Air

Actor Oscar Isaac is ‘a vulture’ of his own life

With Victor Frankenstein, he had no doubts. The whole movie, he has very little doubt, which was a very freeing thing to play up until the moment of creation. And then after that, it's kind of all doubt. And that's when he kind of goes in within himself and ossifies. But Josh is very different. Josh is mostly doubt and mostly reactionary.