Capital Allocators – Inside the Institutional Investment Industry 2022 Top Episode #5: Annie Duke – The Power of Quitting, EP.273
6 snips
Dec 26, 2022 
Annie Duke, a former professional poker player and best-selling author, joins the discussion to explore the crucial skill of knowing when to quit. She shares insights from her latest book, emphasizing that quitting is not a failure but a strategic decision. Fascinating stories from Everest climbers illustrate how pivotal choices can be. Duke also tackles the endowment effect in sports and offers practical techniques for enhancing decision-making, urging listeners to embrace the wisdom of quitting for better outcomes in both personal and professional realms.
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Everest Climbers
- Three climbers on Everest in 1996 adhered to their turnaround time, despite others continuing.
- They quit their summit attempt, survived, and exemplified effective quitting.
Grit's Double-Edged Sword
- Grit is valuable for pursuing worthwhile goals, but it can also lead to clinging to unproductive endeavors.
- The key is discerning between the two.
Quitting Under Uncertainty
- Decisions, including quitting, are made under uncertainty due to luck and hidden information.
- The option to quit offers flexibility when new information surfaces, making it valuable.
