297: Mastering the Decision-Making Process with Business (and World Series of Poker) Champion Annie Duke

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 20 September 2018

⏱️ 112 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In today’s epic show, we interview World Series of Poker bracelet champion Annie Duke. Annie is a nationally sought-after speaker who combines her mastery of poker with a study of the cognitive sciences in a truly unique and brilliant way. In this show, you’ll have your mind blown by Annie’s insights regarding following conventional wisdom (even if it doesn’t make sense), focusing too much on the results (and not enough on the right choice), and accepting a level of uncertainty to gain a HUGE advantage over your competition. Annie’s theories on “thinking in bets” are designed to help others navigate a world where we can’t be certain of an outcome, but still come out on top over time. This is an absolute can’t-miss episode for those looking for strategies to overcome apprehension, fear, or uncertainty. Be sure to listen to this incredibly brilliant and powerful interview—and get the tools to take your next steps today! In This Episode We Cover: Annie’s backstory and how she got into professional poker Her concept of risk management Thoughts on luck and circumstances we have no control over Elements of luck versus elements of skill Pete Carroll’s endgame decision The concept of “resulting” What constitutes a consensus choice Winning and losing—and caring about your decision-making process The difference between real estate investing and poker The importance of confidence and certainty Why one shouldn’t be afraid of losing and being blamed A champion versus a victim And SO much more! Links from the Show BiggerPockets Forums Rounders BiggerPockets Podcast 074: Buying My First Investment Property- A Newbie Podcast with Jordan, Jacob and Jeromie Jordan Thibodeau’s Author Profile Scott’s Instagram David’s Instagram BiggerPockets Podcast 157: A Simple Morning Ritual to Help You Dominate Every Area of Your Life with Hal Elrod Books Mentioned in this Show Thinking in Bets by Annie Duke The Miracle Morning by Hal Elrod The Geometry of Wealth by Brian Portnoy Decide to Play Great Poker by Annie Duke Superforecasting by Dan Gardner and Philip E. Tetlock Extreme Ownership by Jocko Willink Radical Candor by Kim Scott Thinking, Fast and Slow by Daniel Kahneman The Signal and the Noise by Nate Silver Set for Life by Scott Trench Tweetable Topics: “Every decision, even small executional decisions all the way to the larger goals, carries risks.” (Tweet This!) “There are no small decisions.” (Tweet This!) “The most important person we need to worry about pointing fingers at is ourselves.” (Tweet This!) Connect with Annie Annie Duke’s Personal Website Annie Duke’s Twitter Profile Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Bigger Pockets Podcast, Show Number 297.
0:05.0	In poker, you're really forced to be keeping track of that in the moment.
0:09.5	So that's super unusual.
0:11.0	So there's kind of a bright side and a dark side to that. The bright
0:14.5	side is it really reminds you that every decision, even small
0:18.5	executional decisions on the way to your larger goals carry risk with them.
0:23.0	That there are real consequences that come from every single decision that you make.
0:27.0	You're listening to Bigger Pockets Radio,
0:30.0	Simplifying real estate for investors large and small.
0:34.0	If you're here looking to learn about real estate investing without all the height,
0:38.0	you're in the right place.
0:40.0	Stay tuned and be sure to join the millions of others who have benefited from BiggerPockets.com.
0:45.9	Your home for real estate investing online.
0:49.4	What's up everybody?
0:50.4	This is David Green here with Scott Trench, your co-host for the BiggerPockets
0:54.2	podcast today.
0:55.8	And you are in for a treat.
0:57.1	We had one of the most exceptional mind-blowing conversations I've ever had in my life with
1:02.1	World Series of Poker bracelet
1:04.0	champion Annie Duke who is also the author of Thinking and Betts one of Scott
1:07.5	Trench's favorite books and I don't even know how to describe how good this show is
1:11.8	but you guys are in for a treat.
	...

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