Episode notes
On today’s episode, Clay chats with Scott Patterson about his new book - The Chaos Kings.
The Chaos Kings tells the story of the hedge fund that achieved average annual returns of over 105% from 2008 through 2019, and how Bill Ackman had a $27 million dollar bet that turned into over $2.6 billion.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro.
02:35 - Who the Chaos Kings are.
05:38 - The story of Nassim Taleb and Mark Spitznagel setting up a hedge fund that delivered average returns of 105% annually.
06:12 - How these hedge funds profit tremendously during times of calamity.
16:14 - What led Nassim Taleb to get interested in the markets.
24:55 - Why we should be mindful of just how uncertain the world and our global economy is today.
complexity theory - What complexity theory is.
28:51 - How investors can protect themselves from a black swan event.
45:02 - How Taleb and Spitznagel viewed the world differently than conventional wisdom.
53:12 -How predictable Black Swan events are.
57:41 - Looming Black Swans that Taleb sees in today’s world.
60:49 - What the precautionary principle is.
63:23 - Taleb and Spitznagels take on the systemic risks in the financial system today.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Check out our newly released TIP Mastermind Community.
- Scott’s new book - The Chaos Kings.
- Scott’s website.
- Check out our recent episode covering the 2023 Berkshire Hathaway Shareholder Meeting or watch the video.
- Follow Clay on Twitter.
NEW TO THE SHOW?
- Check out our We Study Billionaires Starter Packs.
- Browse through all our episodes (complete with transcripts) here.
- Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.
- Enjoy exclusive perks from our favorite Apps and Services.
- Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.
- Learn how to better start, manage, and grow your business with the best business podcasts.
P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!
SPONSORS
- Invest in Bitcoin with confidence on River. It's the most secure way to buy Bitcoin with 100% full reserve custody and zero fees on recurring orders.
- If you’re aware you need to improve your bitcoin security but have been putting it off, Unchained Capital's Concierge Onboarding is a simple way to get started—sooner rather than later. Book your onboarding today and at checkout, get $50 off with the promo code FUNDAMENTALS.
- Send, spend, and receive money around the world easily with Wise.
- Apply for the Employee Retention Credit easily, no matter how busy you are, with Innovation Refunds.
- Enjoy flexibility and support with free cancellation, payment options, and 24/7 service when booking travel experiences with Viator. Download the Viator app NOW and use code VIATOR10 for 10% off your first booking.
- Make connections, gain knowledge, and uplift your governance CV by becoming a member of the AICD today.
- Choose Toyota for your next vehicle - SUVs that are known for their reliability and longevity, making them a great investment. Plus, Toyotas now have more advanced technology than ever before, maximizing that investment with a comfortable and connected drive.
- Having physical gold physical gold can help if you have an IRA or 401(k)! Call Augusta Precious Metals today to get their free “Ultimate Guide to Gold IRAs" at 855-222-4979.
- Join over 5k investors in the data security revolution with Atakama.
- Support our free podcast by supporting our sponsors.
HELP US OUT!
Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
