506 - How to Master Psychology in High-Stakes Situations: Jennifer Shahade Interviews Me About Negotiating, Crypto, Investing & More

The James Altucher Show

James Altucher

Education, Business

4.6 • 2.7K Ratings

🗓️ 14 November 2019

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

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Summary

It's hard to practice psychology in high stakes situations. But it's necessary. I've been practicing this forever. I practice with chess, in business, in negotiating, in investing. Jennifer Shahade also practices this. Actually, no. She's mastered it. She's the U.S. Women's Chess Champion and a professional poker player. We've been playing chess together since we were kids. And I recently went on her podcast, "The Poker Grid." And I'm airing it here for you. We talk about crypto, diversifying your investments, side hustles, and negotiating. Plus, we talk about the psychology of poker, how to take in information and predict your opponent. Here's the show. I hope you enjoy. - James I write about all my podcasts! Check out the full post and learn what I learned at jamesaltucher.com/podcast. Thanks so much for listening! If you like this episode, please subscribe to "The James Altucher Show" and rate and review wherever you get your podcasts: Apple Podcasts Stitcher iHeart Radio Spotify Follow me on Social Media: YouTube Twitter Facebook Linkedin Instagram Check Out The Altucher Book Club Series: Apple Podcasts YouTube Instagram ------------What do YOU think of the show? Head to JamesAltucherShow.com/listeners and fill out a short survey that will help us better tailor the podcast to our audience!Are you interested in getting direct answers from James about your question on a podcast? Go to JamesAltucherShow.com/AskAltucher and send in your questions to be answered on the air!------------Visit Notepd.com to read our idea lists & sign up to create your own!My new book, Skip the Line, is out! Make sure you get a copy wherever books are sold!Join the You Should Run for President 2.0 Facebook Group, where we discuss why you should run for President.I write about all my podcasts! Check out the full post and learn what I learned at jamesaltuchershow.com------------Thank you so much for listening! If you like this episode, please rate, review, and subscribe to "The James Altucher Show" wherever you get your podcasts: Apple PodcastsiHeart RadioSpotifyFollow me on social media:YouTubeTwitterFacebookLinkedIn See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0	This isn't your average business podcast and he's not your average host.
0:06.6	This is the James Altiger Show on the Choose Yourself Network.
0:12.6	Today on the James Altiger Show.
0:15.8	I don't like when money rents real estate in my head.
0:18.7	It's like this totally useless thing.
0:21.4	Taking up too much of my time, energy, sleep.
0:23.8	People don't think this is what you want to keep psychological stress low and you want
0:27.9	to be diversified which also means you can't put too much in any one investment.
0:31.3	In general, more about staying in a game, being diversified across many hands and information
0:37.9	gathering.
0:38.9	I know probably the highest professional levels.
0:40.4	It's a whole different kind of game but you know, just in general club play or you could
0:46.8	ruffle you strategies like that.
0:48.8	It's really fascinating what you're talking about with the psychological implications of
0:52.3	investing and poker.
0:53.6	Actually, I give it talk at word in Philadelphia.
0:56.1	And one of your points that one of your blogs came up as I always love this point, you talk
1:01.4	about negotiating and about how it's very powerful and negotiating to give a very precise
1:06.0	number so rather than like, you know, fall prey to unify it and say like, I charged like
1:10.5	one K for this.
1:12.2	You give like a very specific number and I think that you see this in poker too.
1:16.2	I just always love that point about the precision of negotiating.
	...

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