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The Meb Faber Show - Better Investing

Annie Duke – Why Great Investors Are Great Quitters | #448

The Meb Faber Show - Better Investing

The Idea Farm

Business, Investing, Management

4.7938 Ratings

🗓️ 8 October 2022

⏱️ 79 minutes

🧾️ Download transcript

Summary

Today’s guest is Annie Duke, a consultant in the decision-making space and previously was a professional poker player who won over 4 million dollars. She’s also a best-selling author and just released her newest book, Quit: The Power of Knowing When to Walk Away. In today’s episode, Annie shares why quitting isn’t always as bad as advertised. She shares what behavioral biases lead us to want to either quit a trade too early or avoid quitting a bad trade, and shares actionable advice you can take to counteract this problem. As we wind down, we touch on The Alliance for Decision Education, a non-profit Annie founded to empower students with essential skills to make better decisions. Click this link to learn more about the organization’s virtual poker tournament on October 27th at 6:30p ET. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- This episode is sponsored by AcreTrader. AcreTrader is an investment platform that makes it simple to own shares of farmland and earn passive income, and you can start investing in just minutes online. For more information, please visit acretrader.com/meb. Today’s episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Subscribe for free here. ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Welcome to the Medfavor Show, where the focus is on helping you grow and preserve your wealth.

0:11.0

Join us as we discuss the craft of investing and

0:13.5

uncover new and profitable ideas all to help you grow wealthier and wiser. Better

0:17.4

investing starts here.

0:18.8

Meck Baber is the co-founder and chief investment officer at Cambria Investment Management.

0:23.4

Did it industry regulations, he will not discuss any of Cambria's funds on this podcast.

0:27.2

All opinions expressed by podcast participants are solely their own opinions and do not reflect the opinion

0:31.1

of Cambria Investment Management or its affiliates.

0:33.4

For more information, visit cambria Investments.com.

0:36.4

Howdy friends, we got a fantastic show today.

0:42.0

Our guest is Andy Duke, a consultant in the decision-making space and previously a professional poker player who's won millions and millions of bucks.

0:50.0

She's also a best-selling author of books like Thinking and Betts and just released her newest book,

0:55.2

Quit The Power of Knowing When to Walk Away.

0:58.8

Today's episode, Annie shares why quitting isn't always as bad as advertised.

1:03.6

She shares why behavioral biases lead us to want to either quit a trade too early

1:07.7

or avoid quitting a bad trade and shares actionable advice you can take to counteract this problem.

1:13.5

As we wind down, we touch on the Alliance for Decision Education,

1:17.3

a non-profit Annie founded to empower students

1:20.0

with essential skills to make better decisions.

1:23.0

Be sure to check the link in the show notes for the organization's virtual poker tournament

1:27.9

on October 27th at 630 PM Eastern.

1:32.3

If you retweet or repost my episode with Annie on either

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