My guest today is Rolf Dobelli, a Swiss author and entrepreneur. Dobelli is a member of Edge Foundation, Inc., PEN International and the Royal Society of Arts. He is the founder of the World Minds foundation.
The topic is his book The Art of Thinking Clearly.
In this episode of Trend Following Radio we discuss:
- Availability bias
- Statistics
- The sunk cost fallacy
- The difficulty of logical thinking
- Authority bias and outcome bias
- Process vs. outcome
- The irrelevancy and "white noise" of news
- Information overload
- Neomania and the obsession with the "new"
- Nassim Taleb, outliers, and the black swan
- J.P. Morgan, banks, and looking behind the facade
- Why watching and waiting is torture for people (the action bias)
- The idea that "the boat matters more than your rowing"
- The paradox of choice, closing doors, and settings fire to ships
- The "it will get worse before it gets better" fallacy and stop loss
- Applying these lessons to daily life
Jump in!
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I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show.
To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/
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