We inited Luca Dellanna who is the book author of Ergodicity and Winning Long-Term Games: Reproducible Success Strategies to Achieve Your Life Goals to help us understand what Ergodicity means and how we can apply it to investing and in life.
Episode Timestamps:
(00:00) Introduction
(02:16) Luca's Profession
(03:19) Ergodicity
(04:15) Real life examples
(07:50) Why survivorship bias is a big part of winning long-term
(11:00) Comparing strategies and self-awareness in life
(13:48) Thinking long-term mental model
(15:00) Components of long-term goals
(15:33) Delayed gratification and comparing
(18:35) Why playing long-term enables gratification
(20:00) Alice's short-term versus Bob's long-term strategy
(24:00) What's the best way to compare for self-improvement?
(25:59) Understanding how others fail
(28:00) What does investing mean to Luca?
(31:29) What is the Kelly Criterion?
(35:55) Why are moody people more efficient than mood-less individuals?
(38:52) Excesses in life
(39:50) How do we evaluate and teach luck?
(45:29) Different types of luck and how to increase luck
(48:00) De-risking in life and eliminating mixed feelings
(51:15) Luca's biggest investment mistake
Follow Kelvin (Podcast Host) on X (Twitter) : https://twitter.com/kelvinMMGoliath
Official Podcast on X : https://x.com/Memarketgoliath
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Follow Luca Dellanna on X: https://twitter.com/DellAnnaLuca
Luca's Website
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