#119 Todd Simkin: Making Better Decisions

The Knowledge Project with Shane Parrish

Shane Parrish

Business, Investing, Entrepreneurship

4.7 • 2.9K Ratings

🗓️ 7 September 2021

⏱️ 74 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Todd Simkin calls on experiences from his lengthy career in financial services and educating traders to help Shane understand how to make better decisions. Simkin breaks down all the influences that go into how and why we make decisions, why financial decisions are different than inter-personal ones, the strategies involved with teaching other people to make better decisions, what he looks for when he’s hiring, the value of asking the right questions, and so much more.

Simkin is Associate Director at Susquehanna International Group, a privately held trading and technology firm. During his 25 years with the company he has held a variety of roles, including responsibility for SIG’s firm-wide education and trader development, where he taught the company’s new traders what questions to ask and what criteria to weigh before making hugely impactful decisions for the firm.

--
Go Premium: Members get early access, ad-free episodes, hand-edited transcripts, searchable transcripts, member-only episodes, and more. Sign up at: https://fs.blog/membership/

Every Sunday our newsletter shares timeless insights and ideas that you can use at work and home. Add it to your inbox: https://fs.blog/newsletter/

Follow Shane on Twitter at: https://twitter.com/ShaneAParrish

Transcript

Click on a timestamp to play from that location

0:00.0	there definitely places where we know that we enjoy the search for answers.
0:05.6	Nobody ever goes out and buys a printed book of Sudoku puzzles that are
0:09.9	already printed and completed. But there are other contexts where you're
0:12.9	absolutely right where people say, I'm afraid that if I don't
0:16.8	know the answer here, I'm going to make mistakes in the world that I live in,
0:22.0	we know that we're going to make mistakes all the time, that we are effectively
0:26.1	just running experiments and getting feedback and then updating our approach
0:30.0	and running a new experiment again the next day. And experiments fail.
0:34.0	Like that's one of the ways that they eventually succeed is because you found
0:37.6	enough ways that they failed.
0:40.3	Welcome to the knowledge project podcast. I'm your host Shane Perish.
1:00.7	This podcast sharpens your mind by helping you master the best what other people have
1:04.0	already figured out. If you're listening to this, you're not currently
1:07.4	a sporting member. If you'd like special member only episodes, access before
1:11.6	anyone else, transcripts and other member only content, or you just want to get
1:15.7	rid of this annoying message, you can join it FHDOPLOG slash podcast.
1:20.4	Check out the show notes for link. Todd Simpkin is here today.
1:25.3	Todd is a trader at SuscoHanna Group, having also worked as a general operating
1:29.7	officer handling personal hires compensation and most importantly for this
1:33.4	podcast, he was the co-head of SIGS educational department, where he
1:37.2	taught people how to make better decisions. As you can imagine, this podcast is a
1:42.4	deep dive on decision making. How we make them. How we calibrate them.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Shane Parrish, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Shane Parrish and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.