Richard Thaler & Cade Massey on the NFL Draft, Misbehaving GM's, & Exploiting Inefficiencies | #477

Published: April 19, 2023, 5 p.m.

b'Today\\u2019s special episode is to prepare you for the NFL draft next week.\\xa0Nobel laureate Richard Thaler is back with Wharton\\u2019s Cade Massey to talk about their famous\\xa0paper on the NFL draft that even the GOAT Bill Belichick read.\\xa0\\nThe guys share what they learned years ago \\u2013 NFL teams overvalue the top picks, shouldn\\u2019t trade up, and even after all the scouting teams do, their ability to pick the best player at any pick is about the same as flipping a coin. We talk about why the Bears won the trade against the Panthers this year, what they think about Mr. Irrelevant Brock Purdy\\u2019s success last year, and the future of data analytics in sports.\\xa0\\nAs we wind down, we dive into why this inefficiency still exists after they published a paper almost 20 years ago and how teams battle some of the same issues asset managers face \\u2013 career risk, impatient stakeholders, and model aversion.\\xa0\\n*Click here to listen to Richard Thaler\\u2019s first appearance on the podcast\\n**If you enjoyed this episode, listen to poker champion & decision-making expert Annie Duke on the show last year\\n-----\\nFollow Meb on Twitter, LinkedIn and YouTube\\nFor detailed show notes, click here\\nTo learn more about our funds and follow us, subscribe to our\\xa0mailing list\\xa0or visit us at cambriainvestments.com\\n-----\\nToday\'s episode is sponsored by\\xa0YCharts.\\xa0YCharts enables financial advisors to make smarter investment decisions and better communicate with clients. YCharts offers a suite of intuitive tools, including numerous visualizations, comprehensive security screeners, portfolio construction, communication outputs, and market monitoring. Visit\\xa0YCharts to start your free trial and be sure to mention "Meb" for 20% off your subscription. (New clients only).\\xa0\\nAnd be sure to check out their latest Resource Deck, "Supercharged YCharts Visuals."\\n-----\\nToday\\u2019s episode is sponsored by\\xa0The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world\\u2019s largest institutions, funds, and money managers. Subscribe for free here.\\xa0\\n-----\\nInterested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com\\n-----\\nPast guests include\\xa0Ed Thorp,\\xa0Richard Thaler,\\xa0Jeremy Grantham,\\xa0Joel Greenblatt,\\xa0Campbell Harvey,\\xa0Ivy Zelman,\\xa0Kathryn Kaminski,\\xa0Jason Calacanis,\\xa0Whitney Baker,\\xa0Aswath Damodaran,\\xa0Howard Marks,\\xa0Tom Barton, and many more.\\xa0\\n-----\\nMeb\'s invested in some awesome startups that have passed along discounts to our listeners. Check them out\\xa0here!\\xa0\\xa0\\nLearn more about your ad choices. Visit megaphone.fm/adchoices'