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The Investor's Podcast (We Study Billionaires)  - The Investor’s Podcast Network

TIP 098 : The Power of Habit by Charles Duhigg (Business Podcast)

The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network

Stig Brodersen

Business, Education, Investing

4.63.6K Ratings

🗓️ 7 August 2016

⏱️ 56 minutes

🧾️ Download transcript

Summary

IN THIS EPISODE, YOU’LL LEARN: The three things that drive habit loops. How your mind starts anticipating certain behaviors before it even occurs. How powerful your habits can become in controlling your everyday life. What keystone habits are. The Story of Michael Phelps. Question from the audience: Value Investing Versus Index Funds. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members. Feel free to read our free executive summary of the book, The Power of Habit. Charles Duhigg’s book, The Power of Habit – Read Reviews of this Book. NEW TO THE SHOW? Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts.  SPONSORS Support our free podcast by supporting our sponsors: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Plus500⁠ ⁠Netsuite⁠ ⁠Shopify⁠ ⁠Vanta⁠ HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. 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Transcript

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0:00.0

We study billionaires in this episode 98 of the Investors Podcast.

0:06.0

Broadcasting from Bel Air, Maryland. This is the Investors Podcast.

0:14.0

They'll read the books and summarize the lessons. They'll test the waters, tell you what it's called.

0:19.0

They'll give you actionable investing strategies.

0:23.0

Your host, Preston Pish, and St. Brooderson.

0:29.0

Hey, how's it going out there? This is Preston Pish and I'm your host for the Investors Podcast.

0:33.0

And as usual, I'm accompanied by my co-host St. Brooderson, Alan Denmark.

0:37.0

Today, we've got a book for you.

0:39.0

And this was one that I thoroughly enjoyed and to be quite honest with you, Stig, I'm a little embarrassed that I haven't read this book until now.

0:48.0

I know I've seen it in my Amazon queue as far as recommended books.

0:52.0

And I've seen this one so many times popping up as something that I should read and just haven't gotten around to it.

0:58.0

And so the name of the book is the power of habit.

1:01.0

Why we do what we do in life and business?

1:04.0

And this is written by Charles DuHig.

1:07.0

So, Stig, I'm assuming this book was valuable for yourself. Did you really enjoy this one?

1:13.0

Yeah, so that's your habit. Whenever you think a book is good, you assume I have the same opinion.

1:19.0

But yeah, you're definitely a derived press. And I thoroughly enjoy the book as well.

1:24.0

So, what you're thinking about, okay, so who endorsed this or what, you know, made you read this one?

1:29.0

So, going back to one of my favorite books, Think and Grow Rich, which was a book that kind of grew out of Andrew Carnegie, who was, you know, one of the wealthiest people of all time.

1:42.0

Andrew Carnegie solicited this book.

1:44.0

And if you've never heard our episode on Think and Grow Rich, definitely go back and find that and listen to that episode.

1:49.0

This book is tremendously useful. If you're trying to succeed at something, it doesn't necessarily have to relate to financial wealth.

...

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