We have a jam-packed episode for all of our listeners today, with two guests, a lot of news, and many great resource recommendations. We start off by rounding up some recent updates from the world of finance and the Rational Reminder community, and spend some time talking about Ben's recent paper, titled 'Finding and Funding Good Life'. We are then joined by Robb Engen, for his third appearance on the show, to talk about how he helps his clients move on from unhealthy advisory relationships. Robb shares some of the surprising, disturbing, and ridiculous rebuttals that he has come into contact with over the years, and we reflect on the recent Twitter storm that occurred as a result of Robb sharing some of these. After this great chat with Robb, we are very happy to welcome back author of How to Change, Katy Milkman, who was recently a guest on the show, to discuss her reading habits, tips for memory, and how she balances producing and consuming both podcasts and books. To take part in this bounty of great information and inspiring ideas from these two guests, please make sure to join us today.

 

Key Points From This Episode:

 

• Reflecting on and investigating Ben's paper, 'Finding and Funding Good Life'. [0:10:59]
• How this podcast has increased our interest in learning about and sharing non-financial ideas. [0:15:30]
• The part that hindsight and regret play in our estimations of happiness. [0:20:08]
• Looking forward to our podcast miniseries in which we explore cryptocurrencies. [0:22:41]
• The basics of the blockchain and digital cash in light of new technology. [0:29:02]
• The context that sparked today's conversation with Robb. [0:35:49]
• Robb explains his typical client, their portfolio, and why they contact him. [0:38:30]
• How Robb approaches assessing a portfolio and communicating possible drawbacks. [0:40:43]
• Ways in which active managers are practicing bad investment habits themselves. [0:44:02]
• Tracking the progress from active to passive for those that Robb works with. [0:47:09]
• Advice from Robb for managing the end of a relationship with an active manager. [0:48:15]
• Robb shares some examples of how advisors have responded to 'break-up notices'. [0:52:07]
• A round of Talking Cents cards with Rob; addressing social issues in a new business, quitting a job, saving versus spending, and more. [1:02:26]
• Katy describes her reading habits and her use of audiobooks. [1:08:15]
• Tips and tricks from Katy for information retention and idea compilation. [1:09:20]
• Thoughts on the connected nature of the behavioural science community and the benefits that Katy sees in this. [1:13:39]
• Some of the classic behavioural science books that Katy recommends. [1:15:07]
• How Katy approaches podcasting, writing, and consuming the different mediums. [1:17:05]
• Advice from Katy for anyone wanting to increase the amount that they read. [1:21:00]