New Books in Economics

Paul Podolsky, "The Uncomfortable Truth About Money: How to Live with Uncertainty and Learn to Think for Yourself" (Harriman House, 2024)

Feb 14, 2025

Paul Podolsky, a former strategist at a leading hedge fund and journalist, discusses financial realities in his work, "The Uncomfortable Truth About Money." He emphasizes the necessity of understanding the basics of money that impact life's major events, from birth to death. Podolsky shares insights on navigating the complexities of finance, the socio-economic impacts of technology like AI, and the importance of historical context in managing risk. Listeners gain a fresh perspective on money management and the psychological aspects of financial decision-making.

47:55

Episode guests

Paul Podolsky

AI Summary

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Framing financial concepts through personal stories enhances understanding, allowing readers to relate deeper to money's role in their lives.

Adapting to constant economic changes is crucial for job security, requiring a mindset that embraces continuous learning and flexibility.

Deep dives

Framing Money Through Personal Narrative

The discussion emphasizes the importance of framing money concepts through personal stories and character connections rather than abstract financial principles. This approach helps readers relate to financial themes on a deeper level, making crucial topics more accessible. By sharing personal experiences of both abundance and scarcity, the author engages readers effectively, thereby grounding complex financial ideas in reality. This narrative technique keeps the audience engaged, allowing for better comprehension of money's role in life.

Intro

2min

From Newsrooms to Trading Floors: A Personal Finance Journey

11min

Navigating the Turmoil of Creative Destruction and Societal Change

5min

Navigating Financial History and Strategies

17min

Understanding Financial Normalcy Through Historical Context

2min

Navigating Risk in Uncertain Times

8min

We are all stuck in a money cage. Money isn’t the most important thing, but it is a thing and you can’t get away from it. Birth costs money and death costs money. So even if you hate talking about money, you need to know the basics, the same way you need to know how to cook yourself a simple meal. The problem with most money books is that they are not written by practitioners and avoid hard truths. Paul Podolsky’s The Uncomfortable Truth About Money: How to Live with Uncertainty and Learn to Think for Yourself (Harriman House, 2024) breaks down walls around financial knowledge.

What a weathered investor knows is that stocks are not always good for the long run. They know that being stingy helps accrue wealth. They know the big thing when you buy property has nothing to do with the property. They know the big thing is less what happens to the markets in a day than if the entire system holds together. And they know what to look for if it’s time to pull out. That’s what this book will teach you: a lifetime of money learnings distilled to a thin volume, like a basic cooking recipe you can follow.

Paul Podolsky writes about macro–politics and money. For many years, he was the strategist and equity partner at the largest hedge fund in the world. Previous to that, he worked as a reporter.

Learn more about your ad choices. Visit megaphone.fm/adchoices

Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics