That episode with Faulkner was next level. Really enjoyed it. Too bad you guys couldn’t spend more time on network theory, maybe in the future. I was able to reach out to him and he sent me over some additional material on the network theory. This podcast has been a great source that articulates work and ideas concisely where someone looking for them can then go in that direction. I’ve always played around with the inefficiencies of language etc. but to see that Faulkner has done so much work and articulates it so well is refreshing. Thanks for creating a tool for motivated people.
Just curious, I wasn’t sure if you were agreeing for the flow of conversation or you thought the logic was sound. But I don’t get how you and Annie Duke came to the conclusion that running it was better than passing on the first play. She starts by saying caught/dropped is 99% of occurrence but leaves out completion rate vs rush success of first occurrence. Furthermore, Russell Wilson’s redzone completion percentage was probably in the 50s or 60s in the postseason, I’m guessing. Not to mention his INT/Pass was much higher than 1% so again going back to that 99% number so I don’t understand why she would think it would be better in the redzone where you have less field to work with. She reinforces this with saying you get an extra play and don’t have to use that timeout by passing on first play if you don’t get it. 24 seconds best case scenario incompletion you can still run it afterward, call timeout, if you don’t get it then run or pass again, 3 plays. If you run first, you can call timeout, pass it if you don’t get it (clock would be stopped) and run or pass on the 3rd play again. In either scenario the success rate of the first play is probably closer than the masses would like to believe but you also don’t have the risk of an interception on a tipped pass with 11 defenders in a 12 yard depth area. She just went on for awhile about this like it was some great epiphany when I don’t even think she was correct 🙂
What made you want to put what Pena had to say on your cast? Going from perspectives like Chris Voss or Sally Hogshead on how to work with people or collaborate, who both seem very effective in their approach, using the information of the situation and maximizing effectiveness accordingly. Whereas Pena just seems like someone whose OS is outdated. Sure the blunt force strategy of just calling people pussies and talking in a loud imposing voice can be effective but I’m not sure it is always the approach with the most success in dealing with people. Just my humble onion. It seems like having a network of highly intelligent open minded people is important to you, would you say that the majority of them would enjoy (operate at peak efficiency) collaborating on a project with someone with Pena’s approach?
I’ve never been to Saigon. My first Asia trip was last year to Tokyo. I think I’m still processing it. Looking forward to checking out more of Asia. But if you’re ever in San Diego lets meet up at the Comber in South Mission for a beer, hows that for a filter? Ha take care, keep up the next level content!
Some questions there are no answers for! My podcast definitely has a perspective and some voices push the envelope. That’s a good thing. Thanks for the great feedback.
Cognitive dissonance, especially in politics, is running rampant. People regularly contradict themselves just to be right. Jordan Peterson is a psychology professor in Canada who has become popular due to his opposing views and his views on political correctness. Michael walks through an interview with Peterson and a sister article breaking apart that same interview and points out the key issues.
My name is [Name] and I recently finished reading my copy of Trend Following. Following (no pun intended) I saw that if I took a photo of my receipt and sent it to this address I will receive a cool little bonus.
I found Trend Following to be an excellent read. Some chapters were of discovery to me in terms of trading knowledge, other chapters reinforced my current behaviors regarding trading and I found some chapters to challenge my attitude/ideas/beliefs about trading for the better!
William Damon is a Professor of Education at the Stanford Graduate School of Education, Director of the Stanford Center on Adolescence, and senior fellow at Stanford University’s Hoover Institution. He is one of the world’s top researchers on development of purpose in life and author of the widely influential book “The Path to Purpose.” In January 2018 he was named one of the 50 most influential psychologists. This conversation lets listeners rethink their purpose and take inventory on their day to day life.
How does one get closer to happiness? Purpose is what drives individuals through life. It creates positive aspirations. People who think beyond the day to day and move toward goals tend to have a more fulfilled, happier life. Bill’s work helps youth find that purpose as well as help elderly keep theirs. He has seen first hand how purpose motivates and makes people obsessed with life.
What is the typical trigger for someone to start searching for their purpose? Is there always a particular starting point? Everyone has their own journey, however, there are usually patterns young people follow while finding their purpose. Often they have observed a person that has had influence, and they want to emulate them–whether that be a parent, teacher, boss, coach, etc. However, these influences can also help to cause doubts–which may not be a bad thing. It’s a natural human tendency to get charged up and pursue dreams with more zest when others say it is impossible. It took about four years for Bill to get recognition he was going down the right career path. Success is not overnight.
Prospective thinking is the new “a-ha” revelation that is coming out in developmental psychology. It’s based on being able to shape your own future regardless of your past. Michael and Bill end the conversation talking common decency, universal morals and values.
In this episode of Trend Following Radio:
Prestige of colleges
Celebrity status misconceptions
Influences of childhood
Basic morals and values
Public schools and curriculum being used
“You need to do something that is dedicated to something larger than yourself in life. Otherwise you will never have enough. You will never have enough to satisfy your materialistic impulses. You will always be grasping for more and more and you will always come up short.” – William Damon
Michael- I very much appreciate your writing in Trend Following. As a knowledge “junkie” who graduated from a top ranked undergraduate “business school,” I couldn’t get behind going to wall street b/c I couldn’t make sense of the EMT. I was a product of the great recession and had teachers spouting off about efficient markets when you watched industry behemoths like google, apple, GE, etc lose 50% of their value in a year. Never really seemed that efficient to me.
Data and math has always spoken to me so reading your book and building trading systems is like a calling.
As a former baseball guy myself, I very much appreciate your baseball sentiments. If you’re ever in Columbus, OH, we have a pretty good minor league team and the stadium/atmosphere is top notch. Would be happy to offer you a beer at a game.
Thanks for all you do, your podcast is great as well. You may want to check out Michael Gervais finding mastery since it appears that you take a keen interest in human psychology. He is a top level performance psychologist.
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Reminiscences of a Stock Operator by Edwin Lefèvre PDF
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