Welcome back to another episode of the Rational Reminder Podcast. Our guest today is Shane Parrish. Shane runs the Farnam Street Blog, which has to be one of the most valuable collections of information that exists on the Internet. Farnam Street's stated intention is mastering the best of what other people have already figured out and the site gets over a million visitors. The content is unbelievable in terms of improving yourself, thinking better, and learning better. Shane interviewed Ray Dalio not long ago and over time he's spoken with some pretty serious people in his podcast, The Knowledge Project Podcast. This episode is a very peaceful, thoughtful, interesting conversation that we know listeners will love. Shane's just got so much information in his head that we all can get a ton of value from. So, be sure to keep listening to hear more! Key Points From This Episode: What mental models are and why they're important. [0:02:07.0] Top list of mental models for making investing decisions. [0:03:39.0] The most harmful biases to investors. [0:04:44.0] Importance of process when making investment decisions. [0:07:51.0] Why Shane uses decision journals. [0:09:11.0] Being willing to look stupid. [0:12:36.0] How intuition and skills go together in investing. [0:14:16.0] Public markets versus private markets. [0:16:19.0] Avoiding negative outcomes and having positive outcomes. [0:20:41.0] Understanding uncertainty and risk. [0:24:35.0] Defining happiness for himself. [0:33:15.0] Lessons Shane learned about parenting. [0:36:28.0] Book that Shane loves to read. [0:43:55.0] . [0:25:50.0] And much more! For more information or to contact Cameron and Ben, visit pwlcapital.com

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“What did the council decide on item 42?” — answered with the speaker and the moment.