Chris Polk, Founder of Promethium Advisors, brings over 40 years of investment management experience to the conversation. He discusses the undeniable importance of owning quality and shares insights into the psychology of wealth. Polk emphasizes the sacred art of listening and its transformative effects on communication and relationships. He critiques traditional investment practices and encourages a mindset of continuous growth and curiosity. His forthcoming book, "Money and Meaning," promises to delve deeper into the lessons learned from advising the affluent.
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insights INSIGHT
Never Apologize for Owning Quality
Owning quality means investing in financially strong companies that are stable and resilient.
These investments may not always outperform short-term but generally protect from large losses.
insights INSIGHT
Quality Definition Evolves Over Time
Quality has many definitions and evolves with market conditions and industries.
Investors must adapt their quality criteria to current contexts, avoiding outdated paradigms.
insights INSIGHT
Interpreting Historical Studies Wisely
Studies are useful but backward-looking, requiring interpretation for present contexts.
Understanding study conditions helps apply lessons wisely in investment decisions.
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In 'The Alchemy of Finance,' George Soros provides a detailed account of his investment strategies and introduces the concept of 'reflexivity,' which challenges traditional economic and financial theories. The book includes a theoretical and practical analysis of financial trends, historical perspectives on financial markets, and a real-time experiment detailing his trading activities. It also features a new chapter by Soros on the secrets of his success and a new Foreword by Paul Volcker, former Chairman of the Federal Reserve. The book emphasizes the role of thinking participants in financial markets and the self-reinforcing trends that arise from their interactions[2][4][5].
Catch-22
Buck Henry
Set in the closing months of World War II, 'Catch-22' is a satirical novel that follows the story of Captain John Yossarian, a bombardier stationed on the island of Pianosa off the coast of Italy. The novel explores the absurdity and inhumanity of warfare through Yossarian's attempts to escape his flying duties, thwarted by the bureaucratic rule known as 'Catch-22'. This rule creates a paradox where a man is considered insane if he willingly continues to fly dangerous missions, but if he requests to be relieved of duty, he is proven sane and thus ineligible for relief. The novel is known for its nonchronological structure, circular reasoning, and its critique of military bureaucracy and the illogical nature of war.
Chris Poch is the Founder of Promethium Advisors, which advises families of size and complexity, and manages wealth with a focus on family harmony and after-tax, compounded results. Promethium is the culmination of Chris’s 40 years of investment management experience and 25 years of planning.
In this episode we discuss why you never have to apologize for owning Quality, why people overweight easily observed data, the sacred art of listening, and much more. Those wishing to go deeper should look forward to Chris’s forthcoming book titled Money and Meaning: What I’ve Learned from Advising the Very Wealthy.
The Art of Quality 
