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The Stacking Benjamins Show

Better Decision-Making When You Don’t Have All The Facts with Annie Duke (SB RWD 108)

The Stacking Benjamins Show

Joe Saul-Sehy | Cumulus Podcast Network

Investing, Business, Self-improvement, Education

4.21.9K Ratings

🗓️ 29 June 2020

⏱️ 63 minutes

🧾️ Download transcript

Summary

Rewind Week! Throughout the week we'll replay some of our favorite shows from the past. We're kicking Monday off with an interview we've had plenty of compliments on. Newer listeners will appreciate this one, and older listeners will find Annie Duke's interview refreshingly timely. Our original show notes are below. Do you think you make the best decisions under most circumstances? Today’s guest will tell you that if you don’t have all of the information, the more adamant you are about your point of view, the easier you are to “beat.” Annie Duke was a professional poker player for 20 years, winning many top tier professional tournaments and taking on the best decision makers alive. Equally as important, she brings her academic career in cognitive psychology to bear on decision making that can help you with everything from your investments to your career and more. In our headlines segment, parents are spending TONS of money on their children’s extracurricular activities. Beyond avoiding vacations or planning vacations around some of our people, some parents are stopping contributions to their retirement and not putting money in college funds…just for extracurriculars. We’ll talk about what harm this does (and maybe have some surprising points of view) on today’s show. Plus, it looks like 5% interest rates on mortgages may be right around the corner. Currently, the average interest rate stands at 4.5%. What would a 5% rate do to the financial markets and to your debt load? A recent piece discusses all the different ways we’d be affected overall by higher and higher rates. We’ll of course have more from the world of financial planning, throw out the Haven Life line to lucky listener Ethan, who wonders about market cap weightings for indexes. Why do people invest in indexes that are weighted heavily toward the biggest components? We also answer a letter from John, who asks about our favorite financial books. What are they? You’ll have to listen to find out! Of course, we’ll still score with some of Doug’s delightful trivia, and more. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

Pre-recorded from Joe's Mom's Basement, it's a rewind episode of The Stacking Benjamin Show.

0:05.0

Hey everyone, I'm Griffin the intern, or like that guy checking temperatures that the sizler likes to call me, the Fintern.

0:11.0

Happy Monday, Stackers.

0:13.0

It feels like it's been forever since I've been back in the basement, but it feels good to be home.

0:17.0

Wait, did I just say home?

0:19.0

Wow, what I meant was, back in the basement.

0:22.0

Well, I guess it's better than calling Joe Dad, which totally hasn't happened. Not at all.

0:28.0

Okay, you really didn't need all that information. Most of the time you won't have all the information you need anyway, which actually goes

0:34.8

along nicely with the show I've picked out for you today. I'm not sure if we're calling shows from

0:38.7

2018 oldies yet, but this one is titled Better Decision Making

0:42.6

when you Don't Have All the Facts with Annie Duke.

0:45.1

On this show, former professional poker player Annie Duke sat down with Joe to

0:49.0

share some insider advice on how to successfully navigate life

0:52.2

even when you don't know what all the cards

0:54.1

on the table hold.

0:55.6

We've received so many compliments on this interview from longtime listeners that I thought you

0:59.4

knew Stackers should get caught up.

1:01.3

There's lots to chew on this episode. And remember, this is a rewind show from a couple years ago, so disregard any investment advice or giveaways. Enjoy, Fin Turn out.

1:11.0

You sure this is wise Abe?

1:16.0

It's your money the kids betting with.

1:18.0

It's plenty wise.

1:19.0

We know what we're holding and we know what you're holding.

...

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