Published in 1979, 'Super System' is a seminal work on poker strategy that covers a wide range of poker variants, including Texas Hold'em, Seven-Card Stud, draw poker, and lowball. The book is the result of over 10,000 hours of labor by some of the world's greatest poker players and theorists. It includes contributions from Mike Caro, David Sklansky, Bobby Baldwin, Chip Reese, and Joey Hawthorne. While some of its specific strategies have aged due to advances in poker theory, the book remains a foundational resource for understanding basic and advanced poker strategies and is highly regarded for its historical significance and the insights into the poker scene of the 1970s.
This book is a classic in the realm of stock market literature, detailing the life and trading experiences of Jesse Livermore, a legendary trader, under the pseudonym 'Larry Livingston'. It explores Livermore's journey from his early days in 'bucket shops' to becoming a prominent figure on Wall Street. The book highlights the importance of understanding market psychology, the dangers of overtrading, and the need for discipline and independent analysis in trading. Despite being written nearly a century ago, its lessons on market dynamics and human nature remain relevant today[2][3][4].
The novel, narrated by Alexei Ivanovich, revolves around his employment as a tutor for a Russian family in a German hotel and casino town. Alexei is deeply in love with Polina, the General's stepdaughter, but his attempts to win her affection through gambling lead to a cycle of addiction and financial turmoil. The story reflects Dostoevsky's own struggles with gambling and explores themes of love, debt, and the psychological effects of compulsive gambling. The novel is known for its vivid descriptions of the casino environment and the psychological state of its characters[2][3][4].
In this book, Annie Duke teaches readers how to make better decisions by treating them as 'bets' on uncertain outcomes. She emphasizes the importance of distinguishing between the quality of a decision and its outcome, acknowledging the role of luck, and avoiding biases such as 'resulting' and hindsight bias. Duke draws on her experiences as a professional poker player and combines these with insights from cognitive psychology and other fields to provide tools for making more objective and thoughtful decisions. The book encourages readers to get comfortable with uncertainty, seek truth through diverse opinions, and learn from outcomes to improve future decision-making[1][3][5].
"You have to, create your own library of Alexandria. And the great thing is you can do it topic by topic. Someone sends you a book recommendation? Great. Buy it on Kindle, stick it in the Notebook [LM], right? You'll get there eventually, but it's part of your searchable database from today because, I've taken it on recommendation from someone I trust."
-Rupert Mitchell, Blind Squirrel Macro
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This week, Chase interviews his brain doppelgänger and good friend, Rupert Mitchell, of Blind Squirrel Macro. Rupert began his finance career on the sell side of Investment Banking (pick one, he worked there) and also ran the equity syndicate desk in Hong Kong. Rupert began Blind Squirrel Macro as a way to connect with people about investing. His apt tag line is “Macro for Civilians” and this conversation stays on brand. Enjoy all of Rupert’s thoughts on space, his thankfulness for the power of a targeted ETF, and most importantly, how to approach A.I. agnostically. We must have Rupert back, because we barely scratched the surface in this episode!
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Timestamps:
(00:01) – Intro
(04:03) – Why Rupert loves the market
(06:52) – How Rupert structures his trade ideas
(12:19) – ETF providers need some love
(14:37) – Early wins can be dangerous
(16:46) – Living in Australia gives you an edge
(23:40) – Will there ever be a Bloomberg [terminal] killer?
(26:53) – Oil
(29:56) – Rupert is the new champion for the old book question
(35:10) – A.I. can’t strip us of beautifully written words
(37:37) – It’s inevitable that you get trades right for the wrong reasons
(40:08) – Be Agnostic about A.I.
(46:17) – How Rupert collects dots
(55:42) – Plugs
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This Episode's Charity:
This week’s episode features causes close to Rupert’s heart: Guide Dogs Australia & Search and Rescue Dogs of Australia. Unfortunately, Rupert didn’t slip once, so we couldn’t help the best of Australia’s dog professionals. But you can by checking out these great charities!
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Referenced in the Show:
So many ETFS: Simplify’s TUA & PFIX, Range’s NUKZ & LNGZ, Cathie Wood’s Space ETF, & Procure’s UFO
AI Tools for an informational edge: Harkster, NotebookLM, & FinChat
Other great Podcasts/Radio: Commodity Context & Desert Island Discs
Books: Reminiscences of a Stock Operator, Dostoyevsky's The Gambler, Annie Duke’s Thinking in Bets & Doyle Brunson’s Super System
Myers-Briggs Personality Type Test: 16Personalities
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Guest Plugs:
Rupert’s X : @SquirrelMacro
Rupert’s Substack: blindsquirrelmacro.com
Rupert’s Podcast: Blind Squirrel Macro - The Pod
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Pinecone Macro Research aims to provide unique, well researched analysis of the global markets using a macro framework. Find us here: www.pineconemacro.com
Follow us and the show on Twitter: @PineconeMacro & @TaylorMadeMacro
Subscribe on Substack: https://substack.com/@pineconemacroresearch
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Bulwark Capital Management: https://bulwarkcapitalmgmt.com/
Disclaimer:
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The information provided is for educational and informational purposes only and does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor’s particular investment objectives, strategies, tax status or investment horizon. You should consult your attorney or tax advisor
Taylor Made Macro 
