No Way Out

Exploring the Impact of John Boyd's Theories on Investment Strategies and Market Behavior with John M. Jennings | Ep 38


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Imagine unraveling the complex theories of the legendary John Boyd and discovering how these principles could significantly enhance your investing strategies.

We do exactly that in our latest engaging conversation with our guest, John M. Jennings, as we delve into Boyd's famed paper, Destruction and Creation, while exploring the fascinating parallels between war fighting and financial markets. Our exploration doesn't stop there, as we further analyze the insightful contributions from Chuck Spinney, Boyd's main collaborator, and debunk the common misconception that equates the economy to physics rather than a biological or evolutionary system.

Join us as we navigate through the ever-changing financial markets, attempting to discern patterns and decipher the landscape that constantly evolves. John guides us through intriguing instances such as investing in the 'Nifty 50' or 'Dogs of the Dow', shedding light on the rise and impact of hedge funds in the 90s. We also discuss John Boyd's thought-provoking maxim of avoiding labeling someone as an expert and its implications within the investment sphere.

But what if our understanding of the markets is hazed by our own cognitive biases? This episode takes a profound look at how cognitive closure, assumptions and our behavioral traits can significantly influence our investing decisions. John emphasizes the importance of flexibility in our belief systems, as rigidity can leave us vulnerable to market fluctuations.

We leave no stone unturned as we discuss the significance of behavior on investment success, especially with large lump sum investments, and the challenges of promoting a concept that embraces uncertainty.

So, brace yourself for an exciting journey into the compelling world of John Boyd's theories and their remarkable influence on investing.

John's Website and "Interesting Fact of the Day"

NWO Intro with Boyd

March 25, 2025

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No Way OutBy Mark McGrath and Brian "Ponch" Rivera

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