Kyle Grieve chats with Annie Duke about quitting, decision-making, and investing. They discuss the importance of base rates, using kill criteria, and dissociating ourselves from our cherished ideas. The conversation also covers using a quitting coach to let go of things we hold onto for too long and more.

Annie Duke is an accomplished decision-making expert, author, and speaker. She has won over $4 million in tournament poker and has won the World Series of Poker and other prestigious poker events. Annie completed her Ph.D. in Cognitive Psychology from UPenn in 2023 and co-founded The Alliance for Decision Education, a non-profit organization that empowers students through decision-making skills education.

IN THIS EPISODE YOU’LL LEARN:
00:00:00 - Intro
00:00:47 - Annie's own story of quitting and how it got here to where she is today
00:16:10 - Why expected value is so crucial for investors to manage risk best
00:21:03 - The importance of understanding base rates and how we can use it to help us best understand the expected values of our investments
00:26:33 - How we can reframe our analysis of a business to close feedback loops on long-term investments
00:43:13 - How we can get 'transfer' from one skill to another far away skill (e.g., chess to investing)
00:49:26 - How we can use kill criteria in our investing decision-making to improve our abilities to quit a losing investment
00:56:32 - How we can disassociate ourselves from our investments to reduce the impacts of the endowment effects
01:03:12 - How to engineer your decision-making to give yourself an outside view
01:08:09 - How to set up a quitting coach by permitting them to disagree with you

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▶️ RELATED EPISODES:
- A Gambler’s Guide To Investing & Life w/ Annie Duke:    • A Gambler’s Guide To Investing & Life...  
- The Mind Of A World Poker Champion With Annie Duke:    • TIP231: The Mind Of A World Poker Cha...  
- Timeless Lessons on What Never Changes in Markets | Same as Ever w/ Morgan Housel:    • Timeless Lessons on What Never Change...  
- How to Persuade & Influence Anyone | The 7 Psychological Tactics w/ Dr. Robert Cialdini:    • How to Persuade & Influence Anyone | ...  
- Finding Certainty in an Uncertain World | Investing Excellence w/ Joseph Shaposhnik:    • Finding Certainty in an Uncertain Wor...  

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📖  BOOKS MENTIONED:
- Quit: The Power of Knowing When to Walk Away by Annie Duke: https://amzn.to/43RdTpE
- Thinking in Bets by Annie Duke: https://amzn.to/49vueBG

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