Annie Duke – The Power of Quitting (Capital Allocators, EP.273)
Capital Allocators – Inside the Institutional Investment Industry
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The Wisdom of Quitting
This chapter emphasizes the critical decision of knowing when to quit, illustrated through the experiences of climbers on Mount Everest who turned back for safety. It discusses the mental and societal obstacles that challenge effective quitting in both personal and investment decisions, highlighting various behavioral biases. By examining the fall of Sears and its misguided focus on a declining retail identity, the chapter underscores the importance of adapting to change and recognizing the value of strategic quitting.
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