Podcast: My Conversation With Annie Duke

Annie Duke is the author of one of my favorite books, “Thinking In Bets”. I often find myself recommending it to both colleagues and friends and family who aren’t even in our business. While the book might be written by a poker player, and is somewhat about poker, it’s really about the way we think, and this applies to market participation, but also life in general. It’s a book I believe everyone should read, at least once.

In this podcast episode, I asked Annie about the differences between being humble in the face of the game we’re playing vs being humble in the face of your opponent. This is a really important concept that really helps put things in perspective.

Behavioral Finance in general, as my friend Phil Pearlman puts it, is very descriptive in nature. We are quick to judge and describe, while prescriptive models, at least in this field, have taken a back seat. So Annie provides a few different things we can do to continue to improve and become more self-aware. She says that there is no “cure”, but even incremental improvements can compound over time. She is also coming out with a new book in September of 2020 that you can pre-order here: “How To Decide: Simple Tools For Making Better Choices”. She says this is also prescriptive because of the workbook portion that is included

This was a really amazing conversation that could have gone on for hours and hours. This is her favorite topic to talk about and it’s certainly near the top of my personal list. But we got through a lot of material in a short period of time, so definitely make sure to give this one a listen!

I want to thank Annie Duke for being a guest on the podcast. This one really meant a lot to me! I hope you enjoy our conversation as much as I did.

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JC and Sean Go To India – What Did We Learn?

We just got back from 6 days in India and I think it will add some value to give you some perspective on the kinds of things we learned. Sean McLaughlin is our Chief Options Strategist and had never been to Asia before. This was an eye opening experience for him and one that reiterated a lot of important things I noticed in my prior visits to Mumbai. We attended a CMT Conference, we filmed a documentary on Indian Options Trading, we ate some of the best food this planet has to offer, we hung out with some of the nicest and coolest people know and got to learn a ton from everything around us. I love going to Mumbai and it’s so nice to see the rest of the gang enjoyed their time there as well. I always feel so welcomed by everyone. I can’t wait to go back! I hope this podcast helps shed some light on how much we enjoyed the trip and maybe that encourages you to make the voyage out there soon as well!

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All Star Interviews Season 3, Episode 13: Neil Blalock, CMT – Chief Investment Officer & Owner of NJB Capital

Neil Blalock is my guest this week on the podcast. I believe he is absolutely the perfect compliment to all of the other guests we’ve had on over the years. While many technical analysis, especially on this podcast, come from an equities background, Neil was raised in Missouri and brought up with commodities all around him. It wasn’t until much later in his career that he focused more on the stock market. Because Technical Analysis can be applied to asset classes of all kinds, Neil is able to use his expertise across markets. What’s funny is that you can take Neil out of the farm, but you can’t take the farm away from him completely. When I asked him about what interests him out there, he went right for the Soybean Markets! Neil just can’t help himself and it’s a beauty to watch. In this episode we dive into the agriculture commodities market as well as the softs, precious metals and ultimately into the equities and interest rate markets. This was a really fun conversation with a different perspective than what you might be used to!

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Money Game Podcast: Being A Gamer (Ep.12)

In this Episode of the Money Game Podcast, Pearlman goes off on what a Gamer Lamar Jackson has been. Growing up in Baltimore, Phil a big Ravens fan so we take this opportunity to talk about something really important: Going for it. We look a few weeks back when the head coach believed in Lamar’s enthusiasm to just go for it on 4th down and it most certainly paid off! You live once and have the option to either go out there and get it, or always think back wondering what if? Whatever it is that’s your thing – just go for it!

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Podcast: The Volatility Episode w/ Andrew Thrasher

Andrew Thrasher is the person I turn to whenever I have questions about Volatility and the $VIX. I know he tracks the data much more closely that I do and he does a good job of simplifying what may seem like complicated concepts. With the current market environment pricing in very low volatility moving forward, one can argue there is too much “complacency” towards stocks. Historically, corrections are sparked from this sort of setup. Who better to bring on to the podcast for this special Volatility Episode than Andrew Thrasher, winner of the 2017 Dow Award for his paper on Forecasting a Volatility Tsunami. In this conversation we talk about the current volatility regime, the VIX curve looking out into early 2020 and how he incorporates breadth data to supplement his volatility analysis. I really enjoyed this conversation and it seems like the perfect time to talk about Volatility!

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Money Game Podcast Bonus Episode 11.1 – Commodities Break 8-year Downtrend

This week I sat down with Pearlman to talk about the fact that stocks are making new highs but the amount of bulls betting on higher prices is near now lows. It was a really interesting conversation so make sure to check it out.

At the end of our chat Phil asked me about some comments I made recently regarding the CCI Commodities Index.

Here is the chart he was referring to where Commodities are doing something they haven’t done in 8 years. I think it’s worth pointing out for sure.

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