David Epstein – Wide or Deep? - [Invest Like the Best, EP.133]

Invest Like the Best with Patrick O'Shaughnessy

Colossus

Technology, Business, Investing

4.7 • 2.5K Ratings

🗓️ 28 May 2019

⏱️ 83 minutes

🔗️ Recording | iTunes | RSS

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Summary

My guest this week is David Epstein. David is a writer and researcher extraordinaire and the author of two great books. His second, Range, is out today and I highly recommend it. We discuss the pros and cons of both the generalist and specialist mindsets in detail and go down many interesting trails along the way. Please enjoy our conversation. For more episodes go to InvestorFieldGuide.com/podcast. Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub. Follow Patrick on Twitter at @patrick_oshag Show Notes 1:12 - (First Question) – What he uncovered in “The Sports Gene: Inside the Science of Extraordinary Athletic Performance” that led him to his latest book 2:38 – Debate with Malcolm Gladwell (YouTube) 4:12 – What did the public pay most attention to and what did they gloss over 7:56 – How his views on nature vs nurture shifted during the process of writing The Sports Gene 10:05 – Blending practice with your nature 13:04 – His process of reading 10 journal articles a day as part of his research 19:06 – Exploring his new book “Range: Why Generalists Triumph in a Specialized World”, and his idea of Martian tennis 23:03 – Idea of the cult of the head start and how we set up our own feedback loops 28:58 – What does his research say about the nations education system 30:42 – The Flynn Effect chapter 33:54 – Hacks for learning 37:52 – The concept of struggle and harnessing the power of it 46:31 – Personality changes and how to drive those changes in a positive way 52:00 – Using the outside perspective in businesses for more productive outcomes and how it applied to Nintendo 52:59 – Josh Wolfe Podcast Episode 1:04:45 – Other examples of using withered technologies, 3M 1:09:00 – The arc of his work and how it has evolved 1:13:54 – Taking a different view on problems 1:17:52 – Ending Medical Reversal: Improving Outcomes, Saving Lives 1:18:04– Anyway to change these bad trends with new strategies Learn More For more episodes go to InvestorFieldGuide.com/podcast. Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub Follow Patrick on twitter at @patrick_oshag

Transcript

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0:00.0	Hello and welcome everyone, I'm Patrick O'Shaughnessy and this is Invest Like The Best.
0:08.6	This show is an open-ended exploration of markets, ideas, methods, stories, and of strategies
0:13.9	that will help you better invest both your time and your money.
0:17.2	You can learn more and stay up to date at InvestorFieldGuide.com.
0:24.6	Patrick O'Shaughnessy is the CEO of O'Shaughnessy Asset Management.
0:28.5	All opinions expressed by Patrick and podcast guests are solely their own opinions and do
0:32.9	not reflect the opinion of O'Shaughnessy Asset Management.
0:36.3	This podcast is for informational purposes only and should not be relied upon as a basis
0:40.6	for investment decisions.
0:42.4	Clients of O'Shaughnessy Asset Management may maintain positions and the securities discussed
0:46.2	in this podcast.
0:49.7	My guess this week is David Epstein.
0:51.6	David is a writer and researcher extraordinaire and the author of two great books.
0:55.8	His second range is out today and I highly recommend it.
0:59.2	We discuss the pros and cons of both the generalist and specialist mindsets in detail and go
1:04.3	down many interesting trails along the way.
1:06.7	Please enjoy our conversation.
1:11.9	So David, thanks for being here with me.
1:13.1	We've got a whole ton to discuss covering your two books.
1:15.9	A lot of you are the writing.
1:16.9	I know you're interested in a million things.
1:18.6	We're going to go all over the place.
	...

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