The Role of Data in Shaping Our Perception of the World and Understanding Risk | 2min snip from The Rational Reminder Podcast

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Episode 286: Errol Morris: Tuning out the Noise

The Rational Reminder Podcast

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CHAPTER

The Role of Data in Shaping Our Perception of the World and Understanding Risk

This chapter explores how data has shaped our understanding of the world throughout history, from Brahe's observations to current stock market analysis. The speaker also reflects on personal experiences with Apple stock and acknowledges the role of luck in investment success.

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Rational Reminder listeners get exclusive first access to Tune Out the Noise, a documentary directed by Academy Award-winner Errol Morris until January 31.

Tune Out The Noise Access URL: film.dimensional.com/podcast

Access Code (available until Jan 31): RATIONAL

In today’s episode, Errol Morris, Academy Award-winning film director and author, joins us to talk about his recently released documentary called Tune Out the Noise. The documentary focuses on the revolution that's happened in the financial system, how the markets work, and why the advancements made are so vital. Errol is an acclaimed figure in film and literature, boasting an impressive array of accolades, notably securing an Oscar for his renowned documentary The Fog of War. His work spans various arenas, encompassing short films for prestigious events and many charitable and political organizations. In our conversation, we delve into the significance of storytelling in communicating complex subjects, the power of serendipity, the evolution of finance, and the enigmatic nature of truth. We discuss the necessity of storytelling, the unexpected occurrences that influenced finance, the importance of empirical data in understanding truth, the central story of Tune Out the Noise, and much more. He also provides insights into the amazing economists, many of whom are past guests, who helped shape the financial landscape. Discover how chance, humility, and the pursuit of truth intertwine in this captivating episode, where the intriguing art of storytelling converges with the complexities of the financial world. Tune in now!

Rational Reminder listeners get exclusive first access to Tune Out the Noise, a documentary directed by Academy Award-winner Errol Morris until January 31.

Tune Out The Noise Access URL: film.dimensional.com/podcast

Access Code (available until Jan 31): RATIONAL

Key Points From This Episode:

Introduction and background about our special guest, Errol Morris. (0:00:18)
The central story of his new documentary, Tune Out the Noise, and why it is important for the average person to see. (0:07:33)
Hear his personal thoughts on investing before the documentary and how his investment philosophy has evolved. (0:12:38)
A brief history of the documentary and initial concerns surrounding the project. (0:16:10)
Motivation for making it an “Errol Morris film” as opposed to a typical commercial project. (0:18:21)
The moment he had an epiphany about making the documentary and telling the story of the financial revolution. (0:20:27)
He shares his personal investment experience in the early days of Apple. (0:23:19)
Errol’s skepticism about beating the market and the interviewees that had the biggest impact on him. (0:24:23)
Iconic influencers of the overall financial revolution story that were not in the film. (0:27:50)
The importance of storytelling for conveying complex financial concepts. (0:31:31)
Unexpected revelations about the financial system and investing after making the documentary. (0:34:52)
Explore the role of chance and serendipity in the financial revolution. (0:36:56)
Aspects of the financial revolution story that are underappreciated by investors. (0:40:40)
How the approach to making Tune Out the Noise differed from his previous projects. (0:44:30)
Ben and Cameron share their opinions about the documentary. (0:50:09)
Discover his “shut-up school” approach to interviewing and the fundamentals of a good interview. (0:52:13)
Essential advice to become a better storyteller and Errol’s definition of success. (0:58:07)