Brené Brown and Edward O. Thorp (#739)
This episode is a two-for-one, and that’s because the podcast recently hit its 10-year anniversary and passed one billion downloads. To celebrate, I’ve curated some of the best of the best—some of my favorites—from more than 700 episodes over the last decade. I could not be more excited. The episode features segments from episode #409 “ Brené Brown — Striving versus Self-Acceptance, Saving Marriages, and More ” and episode #596 “ Edward O. Thorp, A Man for All Markets — Beating Blackjack and Roulette, Beating the Stock Market, Spotting Bernie Madoff Early, and Knowing When Enough Is Enough .”
Please enjoy!
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#739: Brené Brown and Edward O. Thorp
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What was your favorite quote or lesson from this episode? Please let me know in the comments .
SELECTED LINKS FROM THE EPISODE
SHOW NOTES
[06:06] Notes about this supercombo format.
[07:09] Enter Brené Brown.
[07:30] Changing in a lasting, meaningful way.
[08:03] Is self-accepted complacency possible?
[10:53] My woo confession about a crux skill.
[13:06] Narcissism: the shame-based fear of being ordinary.
[14:06] Efficacy isn’t always efficient.
[15:48] Pathology as armor that can’t be discarded.
[16:28] What are you unwilling to feel?
[17:04] Discarding armor that no longer serves us.
[21:26] Curiosity as midlife’s superpower.
[22:53] There’s trauma for all of us.
[23:33] An 80/20 marriage hack.
[25:18] Decisions in a family-focused family.
[27:04] Parenting from compliance to commitment.
[29:31] Enter Edward O. Thorp.
[29:54] Edward’s background, and what drew him to apply mathematics to gambling.
[37:04] Edward’s first blackjack trip to Vegas, reference materials used, and his meeting with Claude Shannon at MIT.
[40:13] Edward and Claude devised a method to beat roulette using the first wearable computer, according to MIT.
[42:16] Despite being 89, Edward looks great for his age; he discusses his approach to staying in shape over the years.
[50:22] Edward explains how he got into finance and investing, and the people he met along the way.
[59:25] Edward shares what convinced him that Warren Buffett would one day be the richest man in the world after their first meeting.
[1:03:58] Edward discusses the frameworks he would teach in an investing seminar for modern students, including those without a strong math aptitude.
[1:08:52] Edward shares lessons learned from investing that are transferable to other areas of life.
[1:11:02] Edward, a long-term thinker at 89, offers advice for those who struggle to think beyond the short-term.
[1:15:40] Edward explains how he discovered something suspicious about the Madoff brothers’ business practices 17 years before others caught on.
[1:24:17] Exploring mental models of externalities, the tragedy of the commons, and fundamental attribution errors.
[1:33:32] Edward recommends reading and listening material for those who want to enact positive change in the world, politically or evolutionarily.
[1:38:51] Edward shares which investors, besides Warren Buffett, impress him and why.
[1:42:52] Edward discusses how he balanced growing a business with personal life and what led him to wind things down.
[1:47:56] Edward defines independence and shares how he spent his time after winding down the investment side of his life.
[1:49:30] Edward shares what he’s particularly curious about learning at the moment.
[1:51:40] Reflecting on a conversation between Joseph Heller and Kurt Vonnegut, and other parting thoughts.
SELECTED LINKS FROM THE EPISODE
Connect with Brené Brown:
Website | Unlocking Us Podcast | Twitter | Facebook | Instagram | LinkedIn
Atlas of the Heart: Mapping Meaningful Connection and the Language of Human Experience by Brené Brown
Dare to Lead: Brave Work. Tough Conversations. Whole Hearts. by Brené Brown
The Gifts of Imperfection: Let Go of Who You Think You’re Supposed to Be and Embrace Who You Are by Brené Brown
What Self-Awareness Really Is (and How to Cultivate It) | HBR
Narcissism and Other Defenses Against Shame | Psychology Today
Rush
Brené Brown on Vulnerability and Home Run TED Talks | The Tim Ferriss Show #100
Radical Acceptance: Embracing Your Life With the Heart of a Buddha by Tara Brach | Amazon
Understanding the Significance of Pandora’s Box | ThoughtCo
The Midlife Unraveling | Brené Brown
Topo Chico Mineral Water | Amazon
Connect with Edward O. Thorp:
Website | Twitter
Beat the Dealer: A Winning Strategy for the Game of Twenty-One by Edward O. Thorp | Amazon
Beat the Market: A Scientific Stock Market System Edward O. Thorp and Sheen T. Kassouf (PDF) | ResearchGate
A Man for All Markets: From Las Vegas to Wall Street, How I Beat the Dealer and the Market by Edward O. Thorp | Amazon
University of California
How to Play Blackjack | Vegas How To
Blackjack Basic Strategy Chart by Edward O. Thorp | Chasing the Frog
Kelly Criterion | Investopedia
A Brief Journey Inside the IBM 704 | Archival History of Computing at MIT
National Academy of Sciences
A Favorable Strategy for Twenty-One by Edward O. Thorp | ResearchGate
American Mathematical Society
The Stockpicker’s Burden, and Other Lessons | Barron’s
How a Math Professor Led a Revolution in Las Vegas | RTD
How to Play Roulette | Vegas How To
10 of the Best Compound Exercises for Muscle and Strength | Openfit
Aerobics Program for Total Well-Being: Exercise, Diet, and Emotional Balance by Kenneth H. Cooper | Amazon
Yes, Race Walking Is an Olympic Sport. Here’s How It Works. | Vox
New Mexico State University
Stock Warrants vs. Stock Options | Investopedia
Black-Scholes Model | Investopedia
Cboe Global Markets
How Warren Buffett Made Berkshire Hathaway a Winner | Investopedia
Equity | Investopedia
Market Efficiency | Investopedia
Risk | Investopedia
Preventing the Spread of the Coronavirus | Harvard Health
The 4% Rule | Investopedia
Cryogenics | Wikipedia
Meet the People Who Want to Live — And Keep Their Wealth — Forever | Policy Genius
Global Management Consulting | McKinsey & Company
Collar | Investopedia
The Card Sharp Who Cottoned onto Madoff’s Fraud in 1991 | Forbes
Madoff Investment Scandal | Wikipedia
Bear Stearns | Wikipedia
National Association of Securities Dealers (NASD) | Investopedia
Why Can’t You Go Faster Than Light? | Fermilab
Externality | Investopedia
Svante Arrhenius, the Man Who Foresaw Climate Change | OpenMind
Tragedy Of The Commons | Investopedia
Elon Musk Thinks Every Child Should Learn About These 50 Cognitive Biases | Inc.
Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger | Amazon
Psychology of Human Misjudgement According to Charlie Munger | LinkedIn
Fundamental Attribution Error | Ethics Unwrapped
Thinking, Fast and Slow by Daniel Kahneman | Amazon
Carbon Tax | Wikipedia
Moral Foundations of Politics by Ian Shapiro | Coursera
The Wolf at the Door: The Menace of Economic Insecurity and How to Fight It by Michael J. Graetz and Ian Shapiro | Amazon
Who Lost Biden’s Agenda? Democrats Offer Competing Theories for Failure of ‘Build Back Better’ | NBC News
Poll Finds 96 Percent Support Social Security | AARP
The Changing World Order: Why Nations Succeed and Fail by Ray Dalio | Amazon
Political Order and Political Decay: From the Industrial Revolution to the Globalization of Democracy by Francis Fukuyama | Amazon
The End of History and the Last Man by Francis Fukuyama | Amazon
A Quantitative Investment Management Company | Renaissance Institutional
The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution by Gregory Zuckerman | Amazon
Leading Global Market Maker | Citadel Securities
Princeton Newport Partners | Wikipedia
Do What You Love, The Money Will Follow: Discovering Your Right Livelihood by Marsha Sinetar | Amazon
Incerto: Fooled by Randomness, The Black Swan, The Bed of Procrustes, Antifragile, Skin in the Game by Nassim Nicholas Taleb | Amazon
Catch-22 by Joseph Heller | Amazon
Kurt Vonnegut on the Secret of Happiness: An Homage to Joseph Heller’s Wisdom | The Marginalian
PEOPLE MENTIONED
Tara Brach
Esther Perel
Steve Alley
Herbert Hoover
Claude Shannon
John Selfridge
Tom Wolfe
Kenneth H. Cooper
Sheen T. Kassouf
Warren Buffett
Fischer Black
Myron S. Scholes
Nassim Nicholas Taleb
Robert C. Merton
Jim Cramer
Peter Madoff
Bernie Madoff
Albert Einstein
Charlie Munger
Svante Arrhenius
Garrett Hardin
Elon Musk
Daniel Kahneman
Ian Shapiro
Joe Biden
Ray Dalio
Francis Fukuyama
Jim Simons
Kenneth C. Griffin
Frank Meyer
Marsha Sinetar
Joseph Heller
Kurt Vonnegut
The post Brené Brown and Edward O. Thorp (#739) appeared first on The Blog of Author Tim Ferriss .
