BROADCASTS.com

b'LISTEN HERE: ITUNES | OVERCAST

Ari Paul is the co-founder and Chief Investment Officer of BlockTower Capital. He was previously a portfolio manager for the University of Chicago\'s $8 billion endowment. Ari earned a BA in political science from the University of Pennsylvania, and an MBA from the University of Chicago with concentrations in economics, entrepreneurship, strategic management, and econometrics & statistics.\\xa0

In this episode, we talk about Ari\\u2019s passion for poker, and what the game taught him about investing, risk, and table selection, a powerful concept that applies to just about every field. Ari recently identified what he calls \\u201cthe opportunity of a lifetime\\u201d \\u2014 cryptocurrency. It led him to start investing in cryptocurrencies, a decision that was guided by Ari\\u2019s commitment to stretching boundaries. Finally, Ari discusses his passions for backpacking and travel, and like so many guests, Japan was one of Ari\\u2019s favorites.\\xa0

Time Codes:\\xa0

2:30 - 6:20: Background and departure from science.\\xa0

6:20 - 9:35: Playing poker and complete information. Tilt.\\xa0

9:35 - 14:25: Table selection. Phil Ivey. Sharp Ratio.\\xa0

14:25 - 17:40: Childhood/youth. Building skills and transferring them to trading.\\xa0

17:40 - 20:30: Value investing vs. momentum investing. Path dependency for crypto.\\xa0

20:30 - 24:00: All heuristics are regime dependent.\\xa0

24:00 - 28:25: Shorter attention spans. Analogies. Changing minds.\\xa0

28:25 - 32:30: Backpacking. Consuming information vs. going off the grid. Stoicism.

32:30 - 35:40: Japan/Osaka/Kyoto. Accelerated living.\\xa0

35:40 - 40:00: Consciously stretching boundaries ("Life is lived at the margins"). Behavioral economics. Internalizing stereotypes.\\xa0

40:00 - 43:20: Stretching boundaries applied to cryptocurrencies. Principal component analysis.\\xa0

43:20 - 44:00:\\xa0Specializing vs. building bridges in your career.\\xa0

44:00 - 45:30:\\xa0Moving away from hard skills

45:30 - 49:20:\\xa0Perspectives and trust building pre and post internet. Signaling. Psychological bias. Overconfidence vs. familiarity.\\xa0

49:20.- 50:10:\\xa0We don\'t know people like we think we do.\\xa0

50:10 - 53:35:\\xa0Blogging and personal brand. Blogging as a way to falsify ideas. Cunningham\'s law.\\xa0

53:35 - 57:45:\\xa0Learning > Ego. Power laws. Combined talents out of necessity can create a combinatorial edge.\\xa0

57:45 - 59:50: The experience of starting a crypto fund.\\xa0

59:50 - 1:03:50:\\xa0Agency when there\'s no roadmap. MBA students.\\xa0

1:03:50 - 1:08:45: Breaking through natural momentum. Anchoring. Status quo bias. Fat pitch. Crypto as the opportunity of a lifetime. Hard work, burnout, and compounding.

Links:\\xa0

• Ari Paul Twitter
• Blocktower Capital
• Seth Klarman
• Benjamin Graham
• Phil Ivey
• Sharp Ratio
• Cunningham\'s Law

Books Mentioned:\\xa0

• Vagabonding
• The Intelligent Investor
• Antifragile

Connect with David:\\xa0

• Twitter
• Subscribe to Receive the Latest Episodes

Please leave an honest review on iTunes. Your ratings and reviews really help and I read each one