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HerMoney with Jean Chatzky

Ep 191: The Negotiating Skills You Learn In A Brothel (And Other Wisdom From An Economist)

HerMoney with Jean Chatzky

Jean Chatzky Her Money

Investing, Business

4.71.5K Ratings

🗓️ 11 December 2019

⏱️ 42 minutes

🧾️ Download transcript

Summary

What do the legal sex trade, gambling, and horse trading all have in common? They’re some of the unlikely places economist Allison Schrager has spent years studying risk, and we were blown away by the insight she shares on risk management and negotiating. To research her book, Allison spent time with sex workers and managers at Nevada’s bunny ranch, and the lessons she learned are pretty incredible. In Mailbag, a money trade-off question, advice for a woman who is underpaid, and investment strategy thoughts for an Australian couple in the US. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

You're listening to an airwave media podcast.

0:04.0

Her money is supported by Fidelity Investments.

0:14.0

We want you to demand more from your money.

0:16.1

Start by knowing what you own and owe

0:18.3

will help you take the next step at fidelity.com

0:21.0

slash demand More.

0:25.7

Her money comes to you through PRX. Hey everybody it's Jean Chatsky.

0:38.0

Welcome to Her Money.

0:39.9

Thanks so much for joining me for today's show where we are going to be talking about taking risks

0:47.0

and not just financial risks. I'm talking about the kind of risks where you're at the beach and you see a

0:55.0

surfer hop on a 10-foot wave and you think how could somebody do that or you see a

1:02.2

professional poker player bet thousands of dollars on a single hand.

1:08.0

Believe it or not, a lot of calculation, a lot of thought goes into every single one of those decisions and we've got a guest in

1:16.8

studio Dr. Allison Shrager who is going to break it all down.

1:21.5

Allison is an economist, she's a journalist at courts,

1:25.0

she's co-founder of Life Cycle Financial Partners,

1:29.0

which is a risk advisory firm,

1:32.0

and she's also the author of a book with the best title that I have heard in a very long time

1:37.6

It's called an economist walks into a brothel and other unexpected places to understand risk.

1:46.1

Allison, thanks so much for coming in.

1:47.8

Thanks so much for having me.

1:49.1

I'm really excited to have this conversation.

...

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