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We Study Billionaires - The Investor’s Podcast Network

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

We Study Billionaires - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

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


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Transcript

Click on a timestamp to play from that location

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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