Chapter
The Importance of Numerical Skills in Science and Humanities
07:47 - 14:06 (06:18)
This episode discusses the lack of numerical skills and comfort with long-term perspective among people in humanities and scientists, respectively, and why they need to overcome it. The conversation includes an example of warrant and call option to explain the importance of numerical skills.
Clips
The podcast discusses the concept of common stock warrants and how they led to major changes in the securities industry.
07:47 - 08:55 (01:08)
Summary
The podcast discusses the concept of common stock warrants and how they led to major changes in the securities industry. The host also explores the benefits of balancing short and long-term thinking in investing.
ChapterThe Importance of Numerical Skills in Science and Humanities
Episode#604: Master Investor Ed Thorp on How to Think for Yourself, Mental Models for the Second Half of Life, How to Be Inner-Directed, How Basic Numeracy Is a Superpower, and The Dangers of Investing Fads
PodcastThe Tim Ferriss Show
An example of a friend who refused to sell his house illustrates the danger of a short-term focus in investing, as holding out for a little extra money can cost significantly more in the long run by tying up capital.
08:55 - 10:58 (02:03)
Summary
An example of a friend who refused to sell his house illustrates the danger of a short-term focus in investing, as holding out for a little extra money can cost significantly more in the long run by tying up capital.
ChapterThe Importance of Numerical Skills in Science and Humanities
Episode#604: Master Investor Ed Thorp on How to Think for Yourself, Mental Models for the Second Half of Life, How to Be Inner-Directed, How Basic Numeracy Is a Superpower, and The Dangers of Investing Fads
PodcastThe Tim Ferriss Show
The discussion centers around the lack of understanding in science by humanities experts and lack of numerical skills by some scientists.
10:58 - 14:06 (03:07)
Summary
The discussion centers around the lack of understanding in science by humanities experts and lack of numerical skills by some scientists. The importance of numeracy was highlighted by using an example of 100 people in a bar and their net worth.