AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
The Political Orphanage
The Library of Mistakes
Jan 8, 2025
Russell Napier, the Keeper of the Library of Mistakes in Edinburgh, has spent 30 years advising on asset allocation. He discusses how learning from historical financial errors can enhance decision-making. Napier contrasts neoclassical and behavioral economics, arguing for a more organic understanding of economic systems. He critiques banking regulations, explores pension fund mandates, and highlights gender differences in investment strategies. As he navigates future tech challenges and financial strategies, his insights on AI and cryptocurrencies spark a blend of caution and optimism.
01:07:22
Episode guests
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- The Library of Mistakes highlights the importance of learning from historical financial failures to enhance future decision-making under uncertainty.
- By studying both individual psychology and group dynamics, the library aims to improve understanding of irrational behaviors in economic contexts.
Deep dives
Discovering the Library of Mistakes
The Library of Mistakes in Edinburgh is dedicated to understanding financial and economic failures throughout history. It serves as a resource to help both professionals and the public learn from past mistakes, aiming to prevent similar issues in the future. This unique facility offers courses, events, and podcasts to promote a deeper awareness of financial history amidst current economic challenges. The library focuses on human decision-making under uncertainty, acknowledging that financial and economic history can provide invaluable lessons for better decision-making today.
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode