Episode
Ep 29: What I Learned Losing a Million Dollars, with Author Brendan Moynihan
1:03:28
Published: Tue Sep 16 2014
Description
Brendan Moynihan is a Managing Director at Marketfield Asset Management ($20 billion of assets under management). Mr. Moynihan is also the Senior Advisor to the Editor-in-Chief of Bloomberg News, and an adjunct professor at Vanderbilt University, where he teaches both international finance and investment analysis. Previous to all of these posts, he spent more than 20 years on Wall Street as a trader and risk manager. He is the author of Next Time will Be Different: Why Economists Can't Predict Financial Panics and Crises (Infrared Press, 2013), the author of Financial Origami: How the Wall Street Model Broke (Bloomberg Press, 2011), and the co-author of What I Learned Losing A Million Dollars (Columbia University Press, 2013), which is about the losses and lessons of investor Jim Paul. He is currently writing a book on the "science" of risk management. ***If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading the reviews!For show notes and past guests, please visit tim.blog/podcast.Sign up for Tim’s email newsletter (“5-Bullet Friday”) at tim.blog/friday.For transcripts of episodes, go to tim.blog/transcripts.Interested in sponsoring the podcast? Visit tim.blog/sponsor and fill out the form.Discover Tim’s books: tim.blog/books.Follow Tim:Twitter: twitter.com/tferriss Instagram: instagram.com/timferrissFacebook: facebook.com/timferriss YouTube: youtube.com/timferrissPast guests on The Tim Ferriss Show include Jerry Seinfeld, Hugh Jackman, Dr. Jane Goodall, LeBron James, Kevin Hart, Doris Kearns Goodwin, Jamie Foxx, Matthew McConaughey, Esther Perel, Elizabeth Gilbert, Terry Crews, Sia, Yuval Noah Harari, Malcolm Gladwell, Madeleine Albright, Cheryl Strayed, Jim Collins, Mary Karr, Maria Popova, Sam Harris, Michael Phelps, Bob Iger, Edward Norton, Arnold Schwarzenegger, Neil Strauss, Ken Burns, Maria Sharapova, Marc Andreessen, Neil Gaiman, Neil de Grasse Tyson, Jocko Willink, Daniel Ek, Kelly Slater, Dr. Peter Attia, Seth Godin, Howard Marks, Dr. Brené Brown, Eric Schmidt, Michael Lewis, Joe Gebbia, Michael Pollan, Dr. Jordan Peterson, Vince Vaughn, Brian Koppelman, Ramit Sethi, Dax Shepard, Tony Robbins, Jim Dethmer, Dan Harris, Ray Dalio, Naval Ravikant, Vitalik Buterin, Elizabeth Lesser, Amanda Palmer, Katie Haun, Sir Richard Branson, Chuck Palahniuk, Arianna Huffington, Reid Hoffman, Bill Burr, Whitney Cummings, Rick Rubin, Dr. Vivek Murthy, Darren Aronofsky, and many more.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Chapters
Receive a free vitamin D supplement and five travel packs with your subscription purchase of Athletic Greens all-in-one formula.
00:00 - 01:41 (01:41)
Summary
Receive a free vitamin D supplement and five travel packs with your subscription purchase of Athletic Greens all-in-one formula. With over 75 vitamins, minerals, and whole food sourced ingredients, it provides a nutrient-dense and comprehensive formula for gut health, immunity, energy, and more.
EpisodeEp 29: What I Learned Losing a Million Dollars, with Author Brendan Moynihan
PodcastThe Tim Ferriss Show
In this podcast, the speaker discusses how identifying the ways in which people lose money can help individuals create rules for themselves to become better investors and succeed more in life.
01:41 - 07:55 (06:13)
Summary
In this podcast, the speaker discusses how identifying the ways in which people lose money can help individuals create rules for themselves to become better investors and succeed more in life. The speaker reviews the book "What I Learned Losing a Million Dollars" and describes how it can be an excellent resource for those looking to better themselves financially.
EpisodeEp 29: What I Learned Losing a Million Dollars, with Author Brendan Moynihan
PodcastThe Tim Ferriss Show
The financial markets and investing industry commonly use an elastic measuring tool.
07:57 - 13:44 (05:46)
Summary
The financial markets and investing industry commonly use an elastic measuring tool. Investors often hold themselves out as experts with specialized knowledge or insight, and as a result, obtain better deals and create a self-perpetuating cycle of hubris, often leading to massive overspending and eventual failure.
EpisodeEp 29: What I Learned Losing a Million Dollars, with Author Brendan Moynihan
PodcastThe Tim Ferriss Show
The speaker tells the story of how his former employer lost all of his money and how he wants to match it with his own theory.
13:44 - 17:12 (03:28)
Summary
The speaker tells the story of how his former employer lost all of his money and how he wants to match it with his own theory. He was taken to lunch on his last day and was told part of the story of how his employer lost his money.
EpisodeEp 29: What I Learned Losing a Million Dollars, with Author Brendan Moynihan
PodcastThe Tim Ferriss Show
After an evening of drinking, one person describes their friend's emotional breakdown while watching a movie and then wasting time watching a basketball game.
17:12 - 20:28 (03:15)
Summary
After an evening of drinking, one person describes their friend's emotional breakdown while watching a movie and then wasting time watching a basketball game.
EpisodeEp 29: What I Learned Losing a Million Dollars, with Author Brendan Moynihan
PodcastThe Tim Ferriss Show
An insight into the financial realities of an author and the various parties involved in the process of publishing a book.
20:28 - 24:02 (03:34)
Summary
An insight into the financial realities of an author and the various parties involved in the process of publishing a book.
EpisodeEp 29: What I Learned Losing a Million Dollars, with Author Brendan Moynihan
PodcastThe Tim Ferriss Show
The speaker talks about Jim and his hilarious stories, some of which are included in the book, and how he never incorporated the speaker's advice.
24:02 - 30:09 (06:06)
Summary
The speaker talks about Jim and his hilarious stories, some of which are included in the book, and how he never incorporated the speaker's advice.
EpisodeEp 29: What I Learned Losing a Million Dollars, with Author Brendan Moynihan
PodcastThe Tim Ferriss Show
The podcast discusses the five classes of market participants mentioned in the book and how they are different from each other.
30:09 - 33:34 (03:25)
Summary
The podcast discusses the five classes of market participants mentioned in the book and how they are different from each other. It also touches upon a gentleman's bet and the popularity of the author's book.
EpisodeEp 29: What I Learned Losing a Million Dollars, with Author Brendan Moynihan
PodcastThe Tim Ferriss Show
The use of checklists in trading is valuable because it allows traders to objectify their plan and scenarios for entering and exiting positions.
33:35 - 40:02 (06:26)
Summary
The use of checklists in trading is valuable because it allows traders to objectify their plan and scenarios for entering and exiting positions. The if-then statements become black and white, allowing traders to act on their plan effectively.
EpisodeEp 29: What I Learned Losing a Million Dollars, with Author Brendan Moynihan
PodcastThe Tim Ferriss Show
Traders who reach a height of anxiety and are unable to sleep often liquidate all of their positions and start from scratch, reinforcing the importance of keeping track of capital.
40:02 - 47:13 (07:11)
Summary
Traders who reach a height of anxiety and are unable to sleep often liquidate all of their positions and start from scratch, reinforcing the importance of keeping track of capital. Making judicious risk management decisions in a condition of uncertainty requires a dispassionate view of the decision-making process and a healthy disrespect for money.
EpisodeEp 29: What I Learned Losing a Million Dollars, with Author Brendan Moynihan
PodcastThe Tim Ferriss Show
In this podcast, the host discusses the impact of screens and information overload on the individual's financial decision-making ability.
47:13 - 54:10 (06:56)
Summary
In this podcast, the host discusses the impact of screens and information overload on the individual's financial decision-making ability. He then reviews his favorite books on investing and shares how he uses insights from The Making of an American Capitalist to avoid impulse decisions.
EpisodeEp 29: What I Learned Losing a Million Dollars, with Author Brendan Moynihan
PodcastThe Tim Ferriss Show
In this interview, the guest shares a brief history of financial analysis, touching on the development of stochastic analysis in the 1880s and the evolution of statistics.
54:11 - 58:24 (04:12)
Summary
In this interview, the guest shares a brief history of financial analysis, touching on the development of stochastic analysis in the 1880s and the evolution of statistics.
EpisodeEp 29: What I Learned Losing a Million Dollars, with Author Brendan Moynihan
PodcastThe Tim Ferriss Show
Confusion between observational and experimental data by some journalists can create mass hysteria by turning correlation into causal data.
58:24 - 1:02:41 (04:17)
Summary
Confusion between observational and experimental data by some journalists can create mass hysteria by turning correlation into causal data. Numerical calculations can also give a false sense of security in situations where experimental data is not present, leading to poor decisions in life.
EpisodeEp 29: What I Learned Losing a Million Dollars, with Author Brendan Moynihan
PodcastThe Tim Ferriss Show
This is a promotion for the Tim Ferriss Show and website, with information on where to find it, what it offers, and where to follow Tim on social media.
1:02:41 - 1:03:23 (00:41)
Summary
This is a promotion for the Tim Ferriss Show and website, with information on where to find it, what it offers, and where to follow Tim on social media.