💰Click here to download your FREE guide to Stop Worrying About Your Finances In 4 Simple Steps: https://www.theinvestorspodcast.com/subscribe-youtube/ 🎧 Listen to our episodes here: https://open.spotify.com/show/28RHOkXkuHuotUrkCdvlOP Clay chats with John Jennings about his new book - The Uncertainty Solution. John Jennings is President and Chief Strategist of St. Louis Trust & Family Office, which has $12 billion dollars in assets under management. ▶️ RELATED EPISODES: - Mental Models of Warren Buffett & Charlie Munger | Insights from The Joys of Compounding: https://youtu.be/bWaHNa89qME IN THIS EPISODE YOU’LL LEARN: 0:00:00 - Intro 0:01:13 - Why humans are hard-wired to avoid uncertainty. 0:07:11 - Mental models we can use to invest more intelligently. 0:11:12 - How humans tend to react when faced with uncertainty. 0:19:10 - Why we are wired to quickly come to conclusions and tend to confuse correlation with causation. 0:26:35 - How the improbable is much more probable than we might expect. 0:32:25 - Why the economy is not directly correlated with the stock market. 0:52:06 - Where investing falls on Michael Maubbousin’s Skill vs Luck continuum. 1:03:54 - How behavior biases like loss aversion and overconfidence affect our investment decisions. 1:10:37 - How storytelling can trick us into making poor investment decisions. 1:15:49 - What base rates are and understanding base rates can help us make more intelligent decisions. 🔐 Help companies protect customer privacy in the face of endlessly growing data breaches by investing in Atakama today: http://invest.atakama.com/wsb 🖊️ Access the transcript and learn more about the guest here: https://www.theinvestorspodcast.com/episodes/mental-models-for-successful-investing-w-john-jennings/ 📖 BOOK MENTIONED: - The Uncertainty Solution by John Jennings: https://amzn.to/456m3e0 Disclosure: Some of the links above are affiliate links that we may earn commission from. This helps keep our show going! 😀 💡 OTHER RESOURCES - Seeking Alpha is a crowd-sourced content service for financial markets. Take control of your financial future — Use our link here for a special $140 discount: https://bit.ly/3WG6WU3 ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ABOUT OUR SHOW 🎙 On We Study Billionaires, we interview and study famous financial billionaires including Warren Buffett, Bill Gates, and Ray Dalio. We teach you what we learn and how you can apply their investment strategies in the stock market. 🌍 Website: https://www.theinvestorspodcast.com/we-study-billionaires/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ 📚OUR FREE INVESTING COURSES/RESOURCES https://www.theinvestorspodcast.com/tip-academy/ 📊TRY OUR STOCK INVESTING TOOL: TIP FINANCE https://www.theinvestorspodcast.com/tip-finance/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ❗ DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting.