Episode
#362: Graham Duncan — Talent Is The Best Asset Class
1:47:51
Published: Thu Feb 28 2019
Description
"Everyone's genius is right next to their dysfunction." — Graham DuncanGraham Duncan (@GrahamDuncanNYC) is the co-founder of East Rock Capital, a multi-family office investment firm that manages $2 billion for a small number of families and their charitable foundations.Before starting East Rock 14 years ago, Graham worked at two other investment firms and started his career by co-founding an independent Wall Street research firm. Graham graduated from Yale with a B.A. in ethics, politics, and economics. He is a member of the Council on Foreign Relations and serves as co-chair of the SOHN Conference Foundation, which funds pediatric cancer research.Josh Waitzkin, the chess prodigy who served as the basis for the book and movie Searching for Bobby Fischer, calls Graham "the tip of the spear in the realms of talent tracking and judgment of human potential in high stakes mental arenas."Click here for the show notes for this episode.This episode is brought to you by LinkedIn Marketing Solutions, the go-to tool for B2B marketers and advertisers who want to drive brand awareness, generate leads, or build long-term relationships that result in real business impact.With a community of more than 575 million professionals, LinkedIn is gigantic, but it can be hyper-specific. You have access to a diverse group of people all searching for things they need to grow professionally so you can build relationships that really matter and drive your business objectives forward. LinkedIn has the marketing tools to help you target your customers with precision, right down to job title, company name, industry, etc. Why spray and pray with your marketing dollars when you can be surgical? To redeem your free $100 LinkedIn ad credit and launch your first campaign, go to LinkedIn.com/TFS!This podcast is also brought to you by 99designs, the global creative platform that makes it easy for designers and clients to work together to create designs they love. Its creative process has become the go-to solution for businesses, agencies, and individuals, and I have used it for years to help with display advertising and illustrations and to rapid prototype the cover for The Tao of Seneca. Whether your business needs a logo, website design, business card, or anything you can imagine, check out 99designs. You can work with multiple designers at once to get a bunch of different ideas, or hire the perfect designer for your project based based on their style and industry specialization. It's simple to review concepts and leave feedback so you'll end up with a design that you're happy with. Now 99designs also offers custom video and will match you with the right video professional to help you explain your product, spotlight a service, and bring your brand to life. Click this link and get a free $99 upgrade.***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? Please fill out the form at tim.blog/sponsor.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
Tim Ferriss promotes 99designs.com, highlighting how they match you with the right professional for your project and discusses using LinkedIn Marketing Solutions for B2B marketers and advertisers looking to drive business impact.
00:00 - 04:21 (04:21)
Summary
Tim Ferriss promotes 99designs.com, highlighting how they match you with the right professional for your project and discusses using LinkedIn Marketing Solutions for B2B marketers and advertisers looking to drive business impact.
Episode#362: Graham Duncan — Talent Is The Best Asset Class
PodcastThe Tim Ferriss Show
Bill Gurley and Matt Clifford talk with Jay about Billy Beane's influence on assessing human potential, evaluating generalist vs. specialist skill sets, and why the trend of startups staying private longer is good for workers.
04:21 - 09:42 (05:21)
Summary
Bill Gurley and Matt Clifford talk with Jay about Billy Beane's influence on assessing human potential, evaluating generalist vs. specialist skill sets, and why the trend of startups staying private longer is good for workers.
Episode#362: Graham Duncan — Talent Is The Best Asset Class
PodcastThe Tim Ferriss Show
The speaker shares their experience with imposter syndrome when hiring individuals better at doing a specific job than themselves, and explains why taste is preferred over judgment when assessing candidates.
09:42 - 18:53 (09:11)
Summary
The speaker shares their experience with imposter syndrome when hiring individuals better at doing a specific job than themselves, and explains why taste is preferred over judgment when assessing candidates.
Episode#362: Graham Duncan — Talent Is The Best Asset Class
PodcastThe Tim Ferriss Show
References hold a high signal value as they provide insight on a candidate or professional being considered, that cannot be obtained through interviews alone.
18:53 - 27:48 (08:55)
Summary
References hold a high signal value as they provide insight on a candidate or professional being considered, that cannot be obtained through interviews alone. An effective reference question suggested is, "If you were hiring someone to do this job, what criteria would you use to hire?"
Episode#362: Graham Duncan — Talent Is The Best Asset Class
PodcastThe Tim Ferriss Show
The podcast discusses the comparison of investing in orchids and dandelions, where orchids represent high-potential investments with specific requirements, and dandelions represent low-maintenance investments with less potential.
27:48 - 33:47 (05:59)
Summary
The podcast discusses the comparison of investing in orchids and dandelions, where orchids represent high-potential investments with specific requirements, and dandelions represent low-maintenance investments with less potential. The hosts also talk about considering complementary skills while hiring a partner and handling negative feedback.
Episode#362: Graham Duncan — Talent Is The Best Asset Class
PodcastThe Tim Ferriss Show
The speaker suggests spending time understanding a potential real estate investment and the sponsor's approach rather than investing in a fund, and notes that using jargon and cliches may indicate a lack of experience.
33:47 - 40:20 (06:33)
Summary
The speaker suggests spending time understanding a potential real estate investment and the sponsor's approach rather than investing in a fund, and notes that using jargon and cliches may indicate a lack of experience. They also highlight the benefits of investing in local real estate partnerships and hedge fund partnerships run by the best teams globally.
Episode#362: Graham Duncan — Talent Is The Best Asset Class
PodcastThe Tim Ferriss Show
The hosts discuss the necessary criteria when hiring an analyst and emphasize the importance of focusing on present details rather than overemphasizing and being paranoid about the future.
40:20 - 48:07 (07:47)
Summary
The hosts discuss the necessary criteria when hiring an analyst and emphasize the importance of focusing on present details rather than overemphasizing and being paranoid about the future. They also discuss adult development theory and how coaches can help individuals increase their mental complexity.
Episode#362: Graham Duncan — Talent Is The Best Asset Class
PodcastThe Tim Ferriss Show
The hit rate for portfolio managers is typically around 55-65 percent, with their slugging percentage being a determining factor of success.
48:09 - 56:13 (08:04)
Summary
The hit rate for portfolio managers is typically around 55-65 percent, with their slugging percentage being a determining factor of success. The importance of questioning belief systems and their opposite and the impact of such beliefs on emotions are also discussed.
Episode#362: Graham Duncan — Talent Is The Best Asset Class
PodcastThe Tim Ferriss Show
The book, "The Aspirational Investor" by Ashwin Chabra, suggests a different approach to portfolio construction based on how people behave and what they truly care about.
56:13 - 1:02:57 (06:44)
Summary
The book, "The Aspirational Investor" by Ashwin Chabra, suggests a different approach to portfolio construction based on how people behave and what they truly care about. The book also highlights the flaws in Modern Portfolio Theory which have dominated the history of the stock market.
Episode#362: Graham Duncan — Talent Is The Best Asset Class
PodcastThe Tim Ferriss Show
A discussion about the concept of finite and infinite games and how it was developed through observations of game playing in everyday life, including religion, family and the desire to recruit others to play along.
1:02:57 - 1:08:12 (05:15)
Summary
A discussion about the concept of finite and infinite games and how it was developed through observations of game playing in everyday life, including religion, family and the desire to recruit others to play along.
Episode#362: Graham Duncan — Talent Is The Best Asset Class
PodcastThe Tim Ferriss Show
The question of time horizon can be approached indirectly by asking questions about a person's interests and motivations.
1:08:12 - 1:14:23 (06:11)
Summary
The question of time horizon can be approached indirectly by asking questions about a person's interests and motivations. Common indicators can be found by asking about what people do in their spare time and what they have built.
Episode#362: Graham Duncan — Talent Is The Best Asset Class
PodcastThe Tim Ferriss Show
The fun project is to see what game you're playing at different stages of your life and make sure that game is object to you, rather than you being subject to it.
1:14:23 - 1:21:53 (07:30)
Summary
The fun project is to see what game you're playing at different stages of your life and make sure that game is object to you, rather than you being subject to it. This allows for personal growth and understanding of oneself.
Episode#362: Graham Duncan — Talent Is The Best Asset Class
PodcastThe Tim Ferriss Show
The speaker shares his perspective on the importance of time and how our culture tends to focus more on money, encouraging listeners to consider themselves as time billionaires rather than just billionaires.
1:21:53 - 1:32:43 (10:50)
Summary
The speaker shares his perspective on the importance of time and how our culture tends to focus more on money, encouraging listeners to consider themselves as time billionaires rather than just billionaires.
Episode#362: Graham Duncan — Talent Is The Best Asset Class
PodcastThe Tim Ferriss Show
A discussion about Buddhist mindfulness practices in the US, including a quote from a prominent figure in its history.
1:32:43 - 1:40:25 (07:42)
Summary
A discussion about Buddhist mindfulness practices in the US, including a quote from a prominent figure in its history.
Episode#362: Graham Duncan — Talent Is The Best Asset Class
PodcastThe Tim Ferriss Show
The transcript ends with a promotion for 99designs, a design service for book covers, illustrations, and other artistic purposes.
1:40:25 - 1:46:06 (05:41)
Summary
The transcript ends with a promotion for 99designs, a design service for book covers, illustrations, and other artistic purposes.
Episode#362: Graham Duncan — Talent Is The Best Asset Class
PodcastThe Tim Ferriss Show
LinkedIn offers marketing tools that allow precise targeting for your customers, including their job title, company name and industry, helping build relationships that matter and drive business objectives forward.
1:46:06 - 1:47:45 (01:39)
Summary
LinkedIn offers marketing tools that allow precise targeting for your customers, including their job title, company name and industry, helping build relationships that matter and drive business objectives forward.