How to WIN long-term GAMES with Luca Dellanna

We invited 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

NO FINANCIAL OR INVESTMENT ADVICE