Podcast Notes Playlist: Latest Episodes

• Learning is supposed to be hard. It’s like going to the gym. Hard workouts are what stimulates growth.
  • “If you’re finding something hard it’s a lot more likely to stick because your brain is having to work harder. You’re operating at the limit of your muscles potential and that’s the stimulus for growth.” – Ali Abdaal
• Take old exams or create an exam based on the material from class to better remember the information:
  • “There’s evidence that shows that you test yourself even before you start learning something, that’s going to improve your learning. If you test yourself immediately after you learn something, that’s going to improve your learning.” – Ali Abdaal
• Just as you feel like you’re getting the grasp of a lesson and enjoying it, switch to a new one:
  • “If you add a little more variety, kind of make them do a little bit of something, a little bit of something else…the brain is never quite allowed to be comfortable and therefore we’re maximizing our learning and minimizing the time we have to take to learn it” – Ali Abdaal
• Learning the subject is not the same thing as doing well in the exam 
  • “Unfortunately the education system and the testing system is designed to encourage us to game the exam rather than to encourage us to understand and appreciate the content” – Ali Abdaal
• 3 Life-changing pieces of tech for Ali:
  • Kindle Oasis (makes it easier to read at night)
  • Airpods (makes it easier to listen to music and audiobooks)
  • Audible subscription (make it easier to read more books)

Ali Abdaal is a Doctor and a YouTuber.

The ability to consume and retain information quickly is one of the most important skills of the 21st century and yet very few of us actually understand the way our brains learn & remember.

Expect to learn how to design your perfect study schedule, why discomfort is a good sign when studying, the golden rule of memory, Ali's best tools & apps to augment your learning, how to automate spaced repetition and much more...

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Follow Ali on YouTube - https://www.youtube.com/user/Sepharoth64

Check out Ali's website - https://aliabdaal.com/ 

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Get in touch. Join the discussion with me and other like minded listeners in the episode comments on the MW YouTube Channel or message me...

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• Psychedelics foster a belief that everything in this world is connected and we’re all related in some way
• “It’s easy to do something when you’re passionate about it – money is a by-product” – Dan Go
• Twitter is the ultimate test to see whether you actually care about other people’s opinions
• The best way to accelerate your business is to find a mentor
• Keep your written visions and goals within eyesight every day as a reminder
• Ladder your visions: break down large goals into bite-size actions
• Don’t wait for rock bottom before taking a chance on yourself

Dan Go is an online fitness coach and former gym owner. In this conversation, we had a wide-ranging discussion about psychedelics, Twitter, and pursuing a massive vision.

• “Your first client is your own mind.” Adam Townsend
  • “What you perceive yourself to be, that’s what you turn into” Jim O’Shaughnessy
  • The salesperson has to embrace sales as part of his identity
    • He has to believe in what he’s selling
      • If he doesn’t, he might have to rely too much on persuasion
      • Persuasion has a deceptive component, so it’s better to avoid it
• Adam doesn’t like (persuasion) books because they instruct on how to guide conversations
  • He prefers to keep conversations fluid and have flexibility
  • Implementing advice from books also takes away your own authenticity
• “Referrals are the best close you can ever get” – Adam Townsend
• By the time Adam sits with his client, he considers the deal closed
  • He turned the customer into his advocate
• It’s important to find out from the customers what value we bring to them
  – The words they use to describe it are an important clue to shape your identity and communication with them
• Hard Work Does Not Equal Success
  • “Don’t confuse activity with effectiveness” Ben Goodspeed

In this episode of Infinite Loops we invited Adam Townsend back on to speak exclusively about Sales, and why it is so important. In this conversation, we cover:

• Extreme salesmanship
• What you cannot learn from Sales books
• The sales we don’t even realize we’re making
• The right and wrong approaches to selling
• And MUCH more.

Follow Adam on Twitter at https://twitter.com/adamscrabble .

• A good question to ask yourself: Are you living the life you want to live or the life others want you to live?   
  • “I think a lot of people have to do things that are motivated by other people’s perception of them and also motivated by the pressure that’s exerted by the people that are very closely around you” – Chamath Palihapitiya 
• “We’re going to financialize everything. We’re going to fractionalize ownership of probably everything. And so, what there’s an opportunity now to do is to curate and cultivate a community around that, to help people.” – Chamath Palihapitiya
  • You can buy shares in sneakers, art, trading cards, and just about everything else. There’s also a large community around each of those areas.
    • “The investable universe is growing”  
• Climate change is a multiple decade and deca-trillion dollar opportunity: 
  • “The world’s first trillionaire will be somebody in climate change” – Chamath Palihapitiya
• “We are going to spend, in the next decade, tens of trillions of dollars to try to dig ourselves out of this unemployment and GDP hole that has been exacerbated by the coronavirus pandemic” – Chamath Palihapitiya
• What is the 2020 election about?
  • “I think it comes down to political correctness versus cancel culture” – Chamath Palihapitiya
• When it comes to being a great investor, you have to manage your own psychology:
  • “I think that when push comes to shove, what you’re always going to be fighting is yourself. Panicking, overreacting, underreacting, refusing to observe the present, living too much in the past, wanting too much to believe in the future.” – Chamath Palihapitiya
• Chamath is still bullish on bitcoin:
  • “We are dismantling financial orthodoxy…and to have a small amount of insurance that’s uncorrelated to the orthodoxy is just a smart risk management thing”  – Chamath Palihapitiya
    • “It’s a smart thing to have under the mattress just in case”

The Founder and CEO of Social Capital, prominent figure in the venture capital business and part owner of the Golden State Warriors, Chamath Palihapitiya sits down with Shane Parrish to chat about what it means to be an observer of the present, how to think in first principles, the psychology of successful investing, his thoughts on the best public company CEO’s and much more.

GO PREMIUM: Support the podcast, get ad-free episodes, transcripts, and so much more: https://fs.blog/knowledge-project-premium/

• Normally, an organically strong economy correlates with a strong stock market. In an upside-down market, this relationship is inverted
• Unlike monetary response, the fiscal response provides unencumbered spending power
  • Lack of spending sucks income out of the system, fiscal policy undoes that effect by delivering income to the private sector
  • COVID will likely normalize future fiscal interventions
• “If you don’t intervene in boom-bust cycles, things can get ugly. That’s especially true when you have the wrong initial conditions when you have a high level of interconnectedness which we have today” – Jesse Livermore
• The Fed holding interest rates down in the face of inflation fears is bullish for equities
• Under 0% interest rates and negative real return on cash and bonds, money will flow into equities
• A negative scenario for fiscal stimulus, though unlikely, is president Biden combined with GOP holding the senate
• It makes sense to get international exposure in case of potential corporate tax increases

My guest today is Jesse Livermore. I’ve worked with Jesse as part of our research partners program at O’Shaughnessy Asset Management for years now. Whenever there is a huge, important, and complex issue to be studied, I believe he’s among the best minds in the world to tackle it. He did that recently on the topic of what he calls “upside down markets,” which is the topic of this conversation. We seek to answer the simple question: against a horrible economic backdrop, how can the stock market be near all-time highs? Jesse explains in detail the impact that fiscal policy has had on the market and may have in the future. Please enjoy this master class in upside down markets.

This episode of Invest Like The Best is sponsored by Canalyst. Canalyst is the leading destination for public company data and analysis. 

If you’re a professional equity investor and haven’t talked to Canalyst recently, you should give them a shout. Learn more and try Canalyst for yourself at canalyst.com/Patrick.  

For more episodes go to InvestorFieldGuide.com/podcast.

Sign up for the book club and new email newsletter called “Inside the Episode” at InvestorFieldGuide.com/bookclub.

Follow Patrick on Twitter at @patrick_oshag

Show Notes

(2:29) – (First question) – What is Upside Down Markets

(5:44) – Overview on monetary easing and the fed’s role in the markets

(9:42) – Why fiscal policy is such an important lever and the impact it has on the economy

(15:07) – The impact of stimulus on public companies’ fundamentals

(19:25) – The mix of assets in the market due to stimulus

(22:13) – What made 1929 so different to how we are reacting today

(26:14) – Negative concerns: too much money in the system and the risk of inflation

(32:43) – Will the pendulum swing back to labor and higher wages

(37:23) – How these changes could impact specific companies or sectors differently

(41:34) – How he is applying all of this to his personal investment philosophy

(44:25) – Biggest risks still out there

(49:51) – Most interesting gap in his knowledge putting together this piece

Learn More

For more episodes go to InvestorFieldGuide.com/podcast.

Sign up for the book club and new email newsletter called “Inside the Episode” at InvestorFieldGuide.com/bookclub.

Follow Patrick on Twitter at @patrick_oshag

The Reemerging Field of Psychedelic Research | This episode is brought to you by Perfect Keto

Hallucinogens like lysergic acid diethylamide (LSD) and psilocybin (a compound derived from certain species of mushrooms) were being researched in medicine as therapeutic agents before their recreational popularity boomed in the 1960s. Unfortunately, that era gave them a negative connotation and since then the research in medical psychedelics dramatically declined. Now, we are seeing a resurgence in interest for these types of therapies, and the research points to some positive benefits.

One of the most astounding things about using various compounds, like psilocybin, as medicine is the long-lasting and powerful benefits of a single dose. Dr. Hyman sits down for a conversation with Dr. Anthony Bossis, where he shares about his experience conducting psychedelic research.

Anthony P. Bossis, Ph.D. conducts FDA-approved clinical trials in the reemerging field of psychedelic research. He is a clinical psychologist and clinical assistant professor of psychiatry at NYU School of Medicine investigating the effects of psilocybin, a naturally occurring compound found in specific species of mushrooms. Dr. Bossis was director of palliative care research, co-principal investigator, co-author, and session guide on the 2016 landmark study showing a significant reduction in emotional distress along with enhanced existential well being from a single psilocybin-generated mystical experience in persons with cancer.

Dr. Bossis is a supervisor of psychotherapy at Bellevue Hospital and co-founder and former co-director of the Bellevue Hospital Palliative Care Service and maintains a private psychotherapy practice in NYC.

This episode is brought to you by Perfect Keto. Right now, Perfect Keto is offering Doctor’s Farmacy listeners 20% off plus free shipping with the code DRMARK. Just go to perfectketo.com/drmark, and make sure you try their Nut Butters and Keto Cookies.

Find Dr. Hyman’s full-length conversation with Dr. Anthony Bossis, “Are Psychedelics the New Wonder Drug for Mental Illness and the Fear of Death?” here: https://DrMarkHyman.lnk.to/AnthonyBossis

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