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My guest today is Annie Duke, an author, corporate speaker, and consultant in the decision-making space. As a former professional poker player, Annie won more than $4 million in tournament poker before retiring from the game in 2012. Prior to becoming a professional player, Annie was awarded a National Science Foundation Fellowship to study Cognitive Psychology at the University of Pennsylvania. Annie is the co-founder of The Alliance for Decision Education, a non-profit whose mission is to improve lives by empowering students through decision skills education. She is also a member of the National Board of After-School All-Stars and the Board of Directors of the Franklin Institute.
The topic is trading and gambling.
In this episode of Trend Following Radio we discuss:
- Focusing on the process instead of the outcome
- Understanding that it’s about your return, not you winning percentage
- Recognizing that in investing, consistency is unnatural
- Thinking probabilistically
- Maximizing your expectancy
- Understanding that a loss doesn’t necessarily reflect bad thinking
“When you focus on outcome over process you actually reduce innovation in your company.” – Annie Duke
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