An Economist Walks Into a Brothel (with Josh and Allison Schrager)

The Compound and Friends

Josh Brown

News, Business News, Business, Investing

4.7 • 2.2K Ratings

🗓️ 29 March 2019

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

Enable the skill on Amazon - "Alexa, play The Compound Show" Josh here - I had so much fun hanging out with my friend Allison Schrager this week on the eve of her gigantic book launch for An Economist Walks Into a Brothel. Allison spent time with big wave surfers, Nevada prostitutes, Hollywood film producers, paparazzi cameramen, horse breeders, magicians and other real world practitioners to discover the way they handle risk. It's one of the most fascinating books I've ever read and Allison has the perfect combination of writing chops and mental horsepower to pull the whole thing off. Learning about the difference between insurance and hedging, for example, in a really fun format, will definitely pay off. There are lessons about ecosystems with a delicate trust factor, the dangers of overconfidence, the limitation of data analysis and so much more. Get Allison Schrager's new book, An Economist Walks Into a Brothel, right here: https://amzn.to/2HXaQob Follow her on Twitter and ask a question! https://twitter.com/AllisonSchrager Be sure to subscribe to our channel so you never miss an update: https://www.youtube.com/THECOMPOUNDRWM Follow us on Twitter: https://twitter.com/RitholtzWealth Follow us on Facebook: https://www.facebook.com/ritholtzwealth/ Talk to us about your portfolio or financial plan here: http://ritholtzwealth.com/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hey, it's Josh Brown. We are live from the compound for an all new episode of Talk Your Book with my friend
0:05.8	Allison Shrager. Allison say hello? Hello? Okay. Allison's book is blowing up right now. We're only days away from the launch of an economist walks
0:15.2	into a brothel I say that right yeah okay we're not going to talk about
0:19.1	brothels but we are going to talk about some of the everyday economics lessons that everyone can learn from
0:25.1	some of the strangest, I would say, anecdotes and stories that you've ever read in a book of this
0:32.1	sort. You're going to love it stick around okay so
0:35.2	Allison first things first I love the cover I love the art did you design any of this
0:40.4	or you just kind of approved it? I take no
0:43.0	okay. Okay. I published books I didn't have that much say either but let's let's
0:47.8	get into like the the idea behind the book which I'm gonna tell it to you and you tell me if I'm right or wrong I feel like you have this really incredible breadth of expertise about
0:58.1	Economics, but it's so boring to have an economics conversation.
1:02.7	So instead of that, you go find all these people
1:05.7	that are exhibiting traits that are classic economic ideas,
1:10.8	and you tell their stories and why you can pull some investing lessons out of that.
1:15.0	So I think like you're talking about Hollywood,
1:18.0	you're talking about surfing, you're talking about
1:20.0	horse breeding, and what are the lessons?
1:22.0	Like was that the original idea? horse breeding and what are the lessons.
1:22.8	Like was that the original idea and did it come out exactly
1:26.1	like you thought it would?
1:26.9	It did. My idea was this.
1:29.4	Because I had background in academia.
	...

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