Mental Models That Make You a Better Investor & Decision-maker w/ Kyle Grieve & Clay Finck (TIP641)

Kyle Grieve and Clay Finck discuss key topics from "Investing: The Last Liberal Art" by Robert Hagstrom, including the importance of using the right explanation for a business in a good investment thesis, simple ways to improve reading comprehension, using mathematical concepts for better decision-making, understanding System I and System II thinking in investing, and new mental models.

IN THIS EPISODE YOU’LL LEARN:
00:00:00 - Intro
00:01:03 - How to use the proper explanations in your analysis to determine the right comparable best
00:05:16 - Why Tesla is so misunderstood
00:09:16 - Why the economics of Dino Polska make it an invalid comparison to other grocers
00:10:51 - The power of narratives in investing and how we can guard ourselves from getting overly optimistic
00:18:48 - How to optimize reading for learning
00:37:59 - How to use Bayes theorem to tip odds in your favor and change your position sizing
00:32:11 - Why value and prices become disconnected, and how human psychology plays into this
00:48:31 - Why intuition (system 1 thinking) is so difficult to rely on in the stock market
01:04:32 - How to make thinking in mental models a habit
01:10:42 - Some of the latest mental models Kyle has learned from interviewing some of his latest guests

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▶️ RELATED EPISODES:
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🎧 Listen to our episodes here: https://link.chtbl.com/TIP-WSB

🖊️ Access the transcript and learn more about the guest here: https://www.theinvestorspodcast.com/e...

📖  BOOKS MENTIONED:
- Investing: The Last Liberal Art by Robert Hagstrom: https://amzn.to/3XCzktu
- Poor Charlie’s Almanack by Charlie Munger: https://amzn.to/3KZcBjZ
- Quit by Annie Duke: https://amzn.to/3VWlD7G
- The Misbehavior of Markets by Benoit Mandelbrot & Richard L. Hudson: https://amzn.to/45Yw3XR
- How Do You Know? by Chris Mayer: https://amzn.to/4bVDNLH
- Mastering the Market Cycle by Howard Marks: https://amzn.to/3XVAZL7
- Thinking, Fast and Slow by Daniel Kahneman: https://amzn.to/4bCCYqJ

Disclosure: Some of the links above are affiliate links that we may earn commission from. This helps keep our show going! 😀

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