Lloyd Blankfein
π€ SpeakerAppearances Over Time
Podcast Appearances
You know, I always had, again, I don't know what it stems from.
And I don't know if there's a linkage in this.
I'm not, I don't have my degree in psychology or, you know,
But I definitely saw that always worried about the darker side of things, how things would go, looking around corner.
Again, it's something that I wish I could turn on and off because sometimes it clouds everything.
what otherwise should be an unabashedly you know unambivalently happy moment because i'll i'll say i'll start to think what could go wrong what could take it away it happened she had helped you in the 2008 yes i mean look like anything else yeah things are you know things have a things are positive things have a dark side you know taken too far but i always again had a bit of a
What could go wrong with this?
And actually, I found β look, in going to Goldman and coming up the trading side, I found something that really suited my ADD.
I was very, very good at intense focus, but you asked me to work on a project straight through for three days, and I was good for β
For me, getting five hours worth of work done was usually working for two hours and procrastinating for three and I'd get five hours worth of work done because I was very intense in the two hours and very procrastinating and fidgety during the other three hours in order to make the other two hours work.
But I did come from a place where I got used to looking around corners and seeing and always thinking that low probability risks are much higher probability than you think.
And starting to think that even as a β I always divided the trading β
job that I had in two separate distinct parts.
One is, what do you think is going to happen in getting yourself there?
So in other words, trying to guess the future.
And the other part of it was risk management, where we go at different times and say, okay, now we're in risk management mode.
I don't care what you think is going to happen.
I don't care that you're lined up consistent with those views.
I want to know anything you can think might happen and what you're doing to contingency plan for it, mitigate the consequences of it.
Try to avoid the bad consequence.