How Stoicism Can Change The Way We Think About Money - ft. Ryan Holiday | Prof G Markets
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- Опубліковано 30 чер 2024
- This week on Prof G Markets, Ryan Holiday, one of the world’s foremost philosophers of the modern era, joins the show to talk about how stoicism can improve our perspective on money. He discusses how to handle wins and losses in every situation and why limiting your options can lead to better decisions. He also advises on some healthy habits that can help improve your financial responsibility.
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Timestamps:
00:00 - Today's number
00:18 - Today's episode
02:01 - Headlines
16:25 - Ad break
16:28 - How Stoicism Can Change The Way We Think About Money - ft. Ryan Holiday
16:36 - What is stoicism and where does it come from?
17:35 - What is the story about shipwreck?
18:30 - How does stoicism help when it comes to thinking about money?
20:41 - Explain the four virtues, particularly their relationship to our understanding with money
22:38 - How can we practice the virtue of justice within a capitalist society?
25:05 - Explain justice as holding the line in relation to spending and saving
27:41 - Do stoics value money?
28:57 - How can early-career professionals stay balanced through wins and losses?
30:54 - What are your healthy habits in terms of money?
32:12 - What strategies can successful individuals in their early 20s use to stay responsible and secure their future?
35:16 - What would Marcus Aurelius criticize most about our society today?
36:31 - What would Marcus Aurelius think of social media, particularly Facebook?
38:47 - What advice can you share for building a career around passions and achieving economic security?
41:31 - How do you deal with criticism and feedback?
44:28 - Algebra of Wealth
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Could you provide us with guidance on current optimal investment options? I'm thinking about investing in cryptocurrencies.
HALVING is also almost a good time. Buy low, sell high. Daily prices are not as significant as buying and selling during accumulation and distribution right now because we are in an accumulation phase. Before the halving, enter the market slowly, then sit back and relax while your bags are transported. Or just get a licensed investment advisor, your investment is even safer that way if you really don't know where to look.
@@ZoeTanguay To be successful in the markets, traders must understand the intersection between asset classes and liquidity flow. Susan Thompson focuses on multi-asset trading, a unique strategy for managing risk, profits, and actual code or decision making across multiple asset classes. Her skill set is top notch
@@TristanPlourde *Susan Clare Thompson* , the FINRA licensed ? By any chance, are you talking about the same person?
"I've never been qualified to do anything I've ever done" love that line...thanks!
"I don't care if I CAN do this, it is wrong so I WILL NOT do this"
Yeah, we definitely need more of that.
Ryan Holiday's definition of Stoicism reminded me of the tale of Lazarus from the beginning of the movie "Oh Brother, Where Art Thou?". Lazarus says, "You shall seek a fortune, and you shall find a fortune, but the fortune you find is not the one you seek." I think the modern day counterpart to that bit of wisdom is, "Don't look a gift horse in the mouth."
Why Scott's beard looks like the grooming machine had no battery halfway through 😂
I love how ProfG has has to premise his opening joke with 'true story Ed....'😂❤
Ed "True Story, Ed" Elson 😂
Loved the guest today with Ryan Holiday and the great questions from Ed and Scott. Another great episode by Prof G media.
In New Zealand, the average price of houses is north of NZ$900,000, but the average individual income is around NZ$75,000. If people don’t have family support for a deposit, they can’t afford housing. It’s like chasing a rainbow. I feel for young people. It’s demoralizing.
Technically speaking Llama is "open weights" meaning anyone can use (with restrictions). "Open source" would require them to provide the source code and training data that you can (with sufficient compute) reproduce.
The drug analogies and self agggrandizing are indeed the two primary reasons I come to the PROF! Cant get it anywhere else. And then occasionally take a tidbit like buying the news of salesforce and turn it into 10 percent 😀
Still laughing over the dog joke. I love this show.
The other phenomenon that is now occurring is the commandeering of housing supply by huge investment firms that is bidding up home prices and rents in addition to a restricted supply. Get rid of the local red tape, provide some incentive for this to happen through infrastructure support for water and waste treatment, roads etc and this may also take some inflationary pressure off. The problem is truly a crisis and adding to growing public discontent.
Didn't the markets react the same to 'Cloud'? Before that the 'internet and chips'. Shiny new objects basically held up long term💎
Hey Scott love your stuff. Headed to Marleyborne next Saturday any places you would recommend. Cheers
Good guest today.
virtue above all!
Lol I love how butthurt Scott is over Elon and how Ed just backs him up cause he's his boss. Emotional 😂
Well that’s your perspective on the matter at least. Let me guess… you’re an Elon fanboy?
@@bondi5000 I'm a fan of disrupting space exploration w rockets that land and vehicles that will be capable of going to Mars, disrupting fossil fuels, trying to save millions of lives w autonomous driving, helping quadriplegics have quality of life again and potentially be able to walk again, etc vs marketing companies like Scott has worked on. Diff stratosphere. Anyone who thinks differently is small minded or refuses to see reality for what it is because it's easier to call someone a fanboy and go w the popular crowd. Real investors/founders know the diff between the caliber of entrepreneurs they are. I'm not a Scott hater either and really like Ed. I'm just saying... Ppl need to know when to stay in their lane
@@bondi5000what’s wrong with Elon? The guys seems to be trying to make a better world.
Betas
What about 4 years spent in a hospital taught me was that:
"Philosophy was making sport of boredom".
Came back to the episodes to share the realization that if China was to attempt an invasion of Taiwan (the place that makes 90+% of the chips that AI depends).
What then will be the outsized effect on the us stock market?
😳
Scott is wrong about saying that those different AI companies could be sold for any value. Once a model is trained, it is trained. It's pointless to buy a company with a model and try to change it.
So the loser actually is worthless, no point on buying it. Talents can just be shuffled between winners (if any), that's all.
I don't think most people care about supply and demand of homes once they buy one. They just don't want new houses suddenly popping up 10 feet away from their house. Most of us didn't want to buy a home just to have people living almost as close as they were in an apartment building.
If they have younger relatives, they often get asked for housing help. Down payment, spare room, etc. All boats rise democratic concept. 🌊
That doesn't happen. As long as you didn't choose to build a house that goes to the edge of your property line, no one is going to build a house 10 ft from yours.
@@jannichi6431 I don't really like boats
Adore the licky licky pet joke. It's a joke Thursday ("debate") after hearing quite a few on "Handsome" podcast. 'Covering' that department too guys!
Houses are only affordable if you don't have to live near major cities
Living is affordable if you don’t have to eat, or breathe.
But that is where the big salaries are
I could live in rural areas or the far out suburbs where the big excitement of the month is heading to the local strip mall but I'd rather be within commuting distance to a city.
Airport important. Cosmo feel is important.to young/singles. The FOOD!
2024 “If you take out A.I.”
2023 “If you take out Mag 7”
2021 “If you take out Energy”
Words of the butthurt active managers who constantly underperform the S&P 500 Index
Pro-tip: Invest in the things they "take out"
This is a fallacy though, you can’t just dismiss every criticism because it’s associated with people that have lost
That’s moronic, if someone’s point is valuid, listen to it and don’t dismiss due to some ad hom bias you have.
@@jimbojimbo6873 if the criticism is coming from someone who makes money off of talking people out of buying the thing that they don’t make money on, then you can absolutely ignore their criticism, because you can’t trust it.
Canada is complaining about median income being about $65k under Trudeau. He's doing better than US at about $43k. From what I read.
USD is worth almost twice the CAD. 43k USD is worth significantly more than 65k CAD
Production note: if you say "hey google" live on the air, it will interrupt me listening in my truck on the way home from work. I'm not mad just saying ....
jumping on this stream as its the latest
trying to bring you back to Elon
kinda love your show and love Elon
seen your uncle state his case
i call bullshit and explain to me if you were a shareholder how you would be disgusted
use a bullshit argument or be a shareholder
your Uncle isnt a builder of value, just a boy complaining that you respect,
convince me
cause Elon bad, getting boring....go young Brit..we just chatting
An environmentalist is someone that already has their cabin in the woods and doesn’t want neighbors.
Why so much hate for Elon ?
Make Homes Happen Again!
Scott and Ryan,
You have an opportunity to platform a candidate that is a practicing stoic.
Scott you declined and Ryan you may not agree with his policies.
Have courage and invite RFK JR to your podcasts.
Challenge his stoicism.
Have courage and justice.
Trump 2024!!
Do an episode with @garyseconomics - you’d feed off each other in an inequality convo
There's something about finding weapons AND attachments that makes the gameplay feel so much more impactful and just forces you to play strengths you otherwise would avoid. 👄😻👅