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#70 Mark Spitznagel: The Dao of Capital

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Making money through large gains and strategic conversations

Traders using the discussed method take numerous small losses over many years, but when they eventually make a large gain, it is substantial enough to provide lifetime financial security. The approach challenges the conventional thinking about making money. Additionally, engaging in conversations with thoughtfully designed questions helps reveal the true thinking of individuals. By posing specific questions such as 'If you could only read one book in your lifetime, what would it be?' or 'If you could visit only one city for the rest of your life, where would it be?', people are forced to think deeply about their responses, offering insights into their perspectives. The speaker also recommended a book by Henry Haslett titled Economics in One Lesson, as a crucial economics text to read, based on its expansion of an essay by 19th-century French economist, Frederick Bastiat.

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