My guest today is Megan McArdle, a Bloomberg View columnist who writes on economics, business and public policy. She founded the blog “Asymmetrical Information”.
The topic is her book The Up Side of Down: Why Failing Well Is the Key to Success.
In this episode of Trend Following Radio we discuss:
“Trophy kids” and taking the monkey bars away The idea of a regulator out there trying to guarantee our safety Why the companies that make it aren’t the ones with the best strategic plan–it’s the ones that execute (and fail well) The power of experimentation Nobel winner Vernon Smith and experimentation The idea of learning in crisis How sunk costs are difficult for a large part of the population to grasp Van Halen, errors, and M&M’s Normative error Small, manageable risks Forager morality vs. farmer morality A story about Kentucky Fried Chicken (KFC)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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