Episode #260: Increase Your Risk Tolerance

August 2, 2018
Psychology
Business
Corporate Innovation

In poker, your bankroll represents how much money you’ve set aside exclusively to play.

Former World Series of Poker champion, author and decision strategist Annie Duke says that you should always play withinyour bankroll. If you have $2,000 in your pocket but have bills and outgoings totalling $1,500 then you don’t have $2,000 to play with, you have $500, and you should not play beyond that.

By playing within your bankroll you’re less likely to fall victim to the sunk cost bias - our tendency to chase our losses - or to bet more than you can afford to lose.

How much are you willing to lose?

---

Join Steve's mailing list at futuresquared.xyz/subscribe ‍

Listen on iTunes @ goo.gl/sMnEa0 

Listen on Spotify @ spoti.fi/2G2QsxV 

Listen on Stitcher @ www.stitcher.com/podcast/future 

Listen on Google Play @ bit.ly/FSGoog 

If you've got any questions on this podcast feel free to send an email to steve@collectivecamp.us or tweet me on Twitter @steveglaveski or @future_squared

Follow me on Instagram: @thesteveglaveski

Like us? It'd make our day if you took 1 minute to show some love on iTunes, Stitcher or Soundcloud by subscribing, sharing and giving us a 5 star rating.

For more information on Collective Campus, our innovation hub, school and consultancy based in Australia and Singapore check out www.collectivecampus.io

Psychology
Business
Corporate Innovation
SUBSCRIBE TO FUTURE2
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form
Steve Glaveski 2018
Powered by Collective Campus
Thanks! You've subscribed!
Oops! Something went wrong while submitting the form.