risk aversion

This week on Weighing the Risks we will revisit the topic of China, arguably the most unloved market in the global economy. Are the risks properly appreciated, or are the risks even deeper than most investors believe? What might these risks mean, not only for the Chinese economy and markets, but also for the world? Learn more at orion.com.

Key Takeaways

• [03:49] - Brendan’s professional background and what he focuses on, specifically, at KraneShares.
• [06:07] - People are attempting to point out a lot of similarities between the current real estate issues in China and the Great Financial Crisis in America. Is this a fair comparison to make in Brendan’s opinion?
• [08:46] - Recently we’ve started to see some of the big name CEOs re-emerge from their seemingly self-imposed isolation – is this a good sign or a false spring? Should we have concerns about government intervention like many are arguing?
• [15:25] - Does the current economy in China look like it might continue a slow descent similar to Japan’s economic doldrums of the 80s?
• [19:40] - What might be the effects on the relationship between the US and China based on the outcome of our upcoming presidential election?
• [22:54] - What might be some catalysts to turn the Chinese market around and get American investors engaged again?
• [26:12] - Some potential market scenarios and Brendan’s thoughts on their plausibility.
• [35:42] - What are some other risks investors should be thinking about right now?

 Quotes

[09:40] ~ “China does need the West, they need foreign investors [and] foreign corporations. They’re not like a Russia, they can’t afford to be ostracized.”

[17:42] - "We outsource our pollution to these people in Asia. Raise your hand if you want a rare earth processing plant down the road, or a coal smelter…not in my backyard is unfortunately a pretty powerful incentive. What our consumption does to China and a lot of these countries is terrible." ~ Brendan Ahern

[36:42] - "My worry is more [about] this “China McCarthyism in DC. It’s very detached from [the]  economic reality of how intertwined our economies are. That’s my bigger risk, is a political [one]...and you know, it takes two to tango, so it could be from the China side, not just the US political side, that some of this just gets a little out of hand. [Though] I’d argue there’s clearly an effort at a high level to stabilize things, which is necessary. " ~ Brendan Ahern

Links

• Brendan Ahern on LinkedIn
• KraneShares
• China Last Night

Connect with Us

• Meet Rusty Vanneman, Orion’s Chief Investment Officer
• Check Out All of Orion’s Podcasts
• Power Your Growth with Orion

Disclosure(s)

Wealth Management services are offered by Orion Portfolio Solutions, LLC d/b/a Brinker Capital Investments a registered investment advisor. Orion Portfolio Solutions, LLC is a wholly owned subsidiary of Orion Advisor Solutions, Inc. (“Orion”)

Access to the services presented is provided solely as a service to financial advisors. Orion Risk Intelligence does not make recommendations or determine the suitability of any security or strategy. Past performance of a security or strategy does not guarantee future results. Orion Risk Intelligence research and tools are provided for informational purposes only. While the information is deemed reliable, Orion Risk Intelligence does not guarantee its accuracy, completeness, or suitability for any purpose, and makes no warranties with respect to the results to be obtained from its use.

Compliance Code: 0482-OAT-3/1/2024

Phil Toews is Chief Executive Officer of the Toews Corporation and a Portfolio Manager of Toews Asset Management. His management strategies focus on creating “investor friendly” products designed to meet investors’ economic and behavioral needs. Phillip is the founder of the Behavioral Investing Institute, an organization devoted to helping advisors manage investor behavior through market challenges. Learn more at orion.com.

Key Takeaways

• [03:55] - Phillip’s personal and career background.
• [04:58] - What really sets Toews apart from other asset management firms?
• [06:43] - Will this coming year be a case of the bears eating the “Goldilocks market?”
• [08:58] - What are the odds that a recession is on the horizon?
• [10:47] - Can we expect subsequent waves of inflation, as history might suggest?
• [12:47] - Why is global debt a problem and what should investors be doing about their portfolios because of it?
• [15:10] - What market scenarios do the terms “bezzle,” “bezzle fizzle” and “bezzle burst” describe?
• [18:44] - What does Phil’s term “BFT” mean and how does it apply to investing?
• [21:36] - How would Phil contrast a tactical strategy from a hedged strategy?
• [24:48] - Are there any rough rules of thumb that Phil recommends for the respective portfolio weights for both trend following strategies or hedge strategies?
• [28:42] - Words of wisdom for how financial advisors can properly utilize trend following and hedge strategies?
• [31:30] - What is “National Investment Risk Day” and why did Toews help start this?
• [37:11] - What is Phil’s  favorite investment idea currently?

Quotes

[20:55] - "...People just are sort of not into the word ‘tactical’ anymore, and I think what’s happened over the years is that there are people out there that are trying to predict the markets and they haven’t done so well, and so I think it has gotten a little bit of a bad name…so we migrated that over to ‘trend following strategies.’" ~ Phil Toews

[32:32] - "Now Bitcoin is, or Cryptocurrencies are, the trifecta of dumb. No assets, no income or no projected income, so forget about a meme stock that potentially actually earns something one day - there’s nothing. [Yet] it has appreciated 18 million percent in the last 20 years, and only because [of that]...everyone says like…’I think this could be a legitimate thing, this could be a legitimate investment.’" ~ Phil Toews

Links

• Phil Toews on LinkedIn
• Toews Corporation
• “Remember Me” by Blue Boy
• Record Global Debt - Phil Toews on Weighing the Risks
• National Investment Risk Day Webinar
• “Space Oddity” by David Bowie
• “Kooks” by David Bowie

Connect with Us

• Meet Rusty Vanneman, Orion’s Chief Investment Officer
• Check Out All of Orion’s Podcasts
• Power Your Growth with Orion

Compliance Code: 0131-OPS-1/17/2024

Disclosure(s)

Orion Portfolio Solutions, LLC, an Orion Company, is a registered investment advisor.

Tune in to hear:

- If so much of what accounts for our behavior is habitual, what hope do we have and how can we change that as we look to the New Year?

- Why do such small bits of friction have an outsized influence on our behavior?

- Does publicly stating your goals have any drawbacks or does it help you stay accountable?

- What is the rhyme-as-reason or fluency effect and how might understanding these effects impact your client education?

- Why can subtle tweaks in the framing of an appeal have such massive impacts on how it is received ?

- In a field like finance, what is an appropriate application of the behavioral reality that humor is sticky without coming across as unserious?

https://www.richardshotton.com

https://www.astroten.co.uk

Compliance Code: 0023-OAS-1/3/2024

What to listen for:

“I look at the dog and if something goes wrong I say, ‘Thank you for the information.’ As dog trainers, we modify behavior and in order to modify behavior we have to be able to take good data.”

Our hosts Robin Greubel, Stacy Barnett, and Crystal Wing explore the intricate dance of dog training, where the art of tinkering plays a pivotal role in shaping the behaviors of our canine companions. They share personal tales from the trenches, revealing how the subtle art of adjusting techniques in real time can lead to profound breakthroughs. From the delicate balance of arousal in bite work to the pivotal impact of duration on behavior, they dissect the nuances of training that often go unnoticed.

This episode takes you on a journey through the varied landscape of dog training, where every dog's unique personality demands a tailored approach. The Dames of Detection journey through the challenges and triumphs, emphasizing the importance of confidence, clarity, and the willingness to embrace failure as a source of invaluable insight.

Dive into the realm of creative training approaches and problem-solving techniques. They dissect the myriad ways in which we can adapt our strategies to the individual needs of our dogs, from the use of a cricket cage to teach a proper final response to employing a frozen bird in a sock to overcome retrieval aversions…and more! So tune in and gain a fresh perspective on how a deep understanding of your dog's focus and reactions can transform the training experience into a harmonious blend of patience, reinforcement, and innovative thinking.

Key Topics:

• Tinkering in Training: When is it too much? (02:42)
• Comfort Levels in Training (08:01)
• Handling Failure in Dog Training (12:32)
• The Importance of Observation in Dog Training (18:21)
• C.O.U.R.T (Criteria, Observation, Understanding, Reinforcement, Timing) (27:06)
• Dog Training Methods and Individualized Approaches (30:28)
• Creativity in Training (36:06)
• Tinkering Success Stories (41:00)

Resources:

• Humane Hierarchy
• Denise's post that inspired this
• Kathy Sdao webinar trailer
• K9 Detection Collaborative Episode 11: The D’s of Detection Work

We want to hear from you:

• Check out the K9 Detection Collaborative FB page and comment on the episode post!
• K9Sensus Foundation can be found on Facebook and Instagram. We have a Trainer’s Group on Facebook!
• Scentsabilities Nosework is also on Facebook. Here is a Facebook group you should join!
• Crystal Wing K9 Coach can be found here at CB K9 and here at Evolution Working Dog Club. Also, check out her Functional Obedience Class here.
• You can follow us for notifications of upcoming episodes, find us at k9detectioncollaborative.com

Tune in to hear:

- Why do only 13% of American millionaires describe themselves as wealthy? Why don’t we recognize our abundance for what it is?

- What is wealth confidence and what are its broader implications within portfolio management?

- Wealth confidence is definitely somewhat correlated with portfolio performance, but why is net worth alone not a sufficient measure for one’s wealth confidence?

- Is there a sense in which $1,000,000 doesn’t actually get you that far with the rapidly increasing costs of living an upper-middle class lifestyle?

- When there’s a disconnect between composure and capacity, should you accommodate the personality preference, the facts on the ground or land somewhere in the middle?

- If we want to be content and confident with our money, what type of environment should we cultivate for ourselves from a social comparison standpoint?

- Does Anthony have any other practical takeaways from his research for those looking to increase their wealth confidence?

https://www.td.com/behaviouralfinance

Compliance Code: Code: 3239-OAS-12/5/2023

Our podcast guests IMS Senior Jury Consulting Advisor Dr. Jill Leibold and Senior Jury Consultant Dr. Nick Polavin share their newest safetyism research and how safetyist beliefs are driving high plaintiff verdicts—especially in medical malpractice, trucking, pharmaceutical, and toxic tort cases. They also explain how defense counsel can use strategic voir dire questions and trial themes to address safetyism in the courtroom. 

Be sure to subscribe to the IMS Insights Podcast on YouTube or your favorite listening platform. Visit our website for more podcasts and articles featuring top litigators, consultants, and industry experts.

IMS has delivered strategic litigation consulting and expert witness services to leading global law firms and Fortune 500 companies for more than 30 years, in more than 43,000 cases. IMS consultants become an extension of your legal team from pre-suit investigation services to discovery and then on to arbitration and trial. Learn more at expertservices.com.

In this episode of Tech Sales Insights, Randy Seidl welcomes Martin G. Moore, a keynote speaker, co-founder “Your CEO Mentor”, and the host of “No Bullsh!t Leadership”, to share his insights on leadership and the key principles of his "No Bullsh!t Leadership" framework. He emphasizes the importance of delivering value at the core of leadership and highlights the seven imperatives for effective leadership: handling conflict, building resilience, working at the right level, mastering ambiguity, making great decisions, connecting the dots, and being accountable. Marty also discusses the challenges of remote work and the need for deliberate and productive in-person interactions. He shares a real-life example of how focusing on change and continuous improvement can lead to significant improvements in productivity. Marty also explores the paradox of salespeople transitioning into leadership roles and the importance of empathy and connection in leadership.

KEY TAKEAWAYS

• Effective leadership is about delivering value and connecting leadership with results.
• Handling conflict is a crucial skill for leaders to master.
• Building resilience involves developing grace under pressure and maintaining calmness in challenging situations.
• Working at the right level means focusing on your own responsibilities and not overcompensating for your team members.
• Mastering ambiguity requires the ability to provide clear direction in a complex and uncertain environment.
• Making great decisions quickly is more important than waiting for perfection.
• Connecting the dots involves implementing the principles of leadership in practical ways and focusing on the important aspects of leadership.
• Remote work presents challenges, and deliberate and productive in-person interactions are essential for effective leadership.

QUOTES

• "Motivation follows action, not the other way around." - Martin Moore
• "It's easier to rein in a stallion than it is to flog a donkey." - Martin Moore
• "Operational excellence is about having the right culture of excellence over perfection and continuous improvement." - Martin Moore
• "The best leaders are usually always great salespeople." - Martin Moore

Find out more about Martin in the link below:

• LinkedIn: https://www.linkedin.com/in/martin-moore-075b001/
• Website: https://www.martingmoore.com/

This episode of Tech Sales Insights is brought to you by: 

• Sales Community: https://www.salescommunity.com/
• Sandler: https://www.sandler.com/

Want to listen to more episodes? Visit **https://www.monologuesbyhasi.com/** or subscribe on your favourite podcast app.

To get in touch and leave me your 2c or ideas you'd like me to discuss in a future episode email me at hasi@monologuesbyhasi.com or reach me on twitter @realHasinthaA.

My intro and outro music are courtesy of Max Maikon and the Youtube Audio Library. Full credits are as follows:

Track: Equilibrium — Max Maikon [Audio Library Release]

Music provided by Audio Library Plus

*Watch:**https://youtu.be/v2G8waOzPQA***

*Free Download / Stream:**https://alplus.io/equilibrium***

The West needs decisive decision making in times of heightened strategic tension between the world’s major powers. This episode looks at the elements of decision making and risk taking affecting Western leaders.

Want to listen to more episodes? Visit **https://www.monologuesbyhasi.com/** or subscribe on your favourite podcast app.

To get in touch and leave me your 2c or ideas you'd like me to discuss in a future episode email me at hasi@monologuesbyhasi.com or reach me on twitter @realHasinthaA.

My intro and outro music are courtesy of Max Maikon and the Youtube Audio Library. Full credits are as follows:

Track: Equilibrium — Max Maikon [Audio Library Release]

Music provided by Audio Library Plus

*Watch:**https://youtu.be/v2G8waOzPQA***

*Free Download / Stream:**https://alplus.io/equilibrium***

We all make decisions involving risk. Decisions like trying out for your school’s chess team, speaking up when you don’t agree with your boss, or going down a double-black-diamond run at the end of a long day of skiing. So how do we determine which risks are worth taking and which ones are too … risky?

In this episode of Choiceology with Katy Milkman, we look at gender differences around confidence and uncertainty, and how we can all better calibrate our bravado.

Surfing waves as tall as apartment buildings takes a lot of strength and skill and preparation. It also involves risk—mistakes can lead to broken bones, concussions, or worse. But as Bianca Valenti explains, those risks can be managed, and there are big rewards in those big waves.

Bianca Valenti is a world-champion surfer, speaker, activist, and entrepreneur. Watch her award-winning ride for the Mavericks Awards.

Next, Katy speaks with Katherine Coffman about research that explores how gender stereotypes shape beliefs about taking risks.

You can read more in the working paper she co-authored, called "A (Dynamic) Investigation of Stereotypes, Belief-Updating, and Behavior."

Katherine Coffman is the Piramal Associate Professor of Business Administration in the Negotiations, Organizations & Markets unit at the Harvard Business School.

Choiceology is an original podcast from Charles Schwab. For more on the series, visit schwab.com/podcast.

If you enjoy the show, please leave a ⭐⭐⭐⭐⭐ rating or review on Apple Podcasts.

Important Disclosures

All expressions of opinion are subject to change without notice in reaction to shifting market conditions.

The comments, views, and opinions expressed in the presentation are those of the speakers and do not necessarily represent the views of Charles Schwab. 

Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.

The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.

Investing involves risk, including loss of principal.

The book, How to Change: The Science of Getting from Where You Are to Where You Want to Be, is not affiliated with, sponsored by, or endorsed by Charles Schwab & Co., Inc. (CS&Co.). Charles Schwab & Co., Inc. (CS&Co.) has not reviewed the book and makes no representations about its content.

Apple Podcasts and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries.

Google Podcasts and the Google Podcasts logo are trademarks of Google LLC.

Spotify and the Spotify logo are registered trademarks of Spotify AB.

(0423-3619)

Tune in to hear:

- Why did Eben’s company Toews create the holiday “ National Investment Risk Management Day?”

- What are some of Eben’s candidates for the worst investment ideas of the year?

- How can we be open to innovation and progress without becoming too easy to fool?

- For folks who did “everything right” last year, they still had a really tough year - how can we convince people to engage in prudent risk management behaviors when you are still going to take a hit sometimes regardless of doing the right thing? 

- How can investors be thoughtful about managing risk once they have the basics of a diversified portfolio covered?

- Toews has a yearly survey that compares advisor and end investor perceptions across a couple market realities - where are they finding that advisors and clients seeing eye to eye and where do they see things differently?

- What would Eben council advisors do differently based on the findings of the above study?

https://toewscorp.com

https://biicoaching.com

Compliance Code: 0363-OAS-2/8/2023

Copy: 0356-OAS-2/7/2023

Making the right decision at the right time is critical to good business and innovation, especially when you add drought or other volatile factors into the mix. So when a new opportunity arises, how do you know you’ll make the ‘right’ choice?  

This episode looks at the latest research about on-farm decision-making, as well as stories from farmers, farm consultants and agricultural entrepreneurs about how they made the decision to adopt a new technology or practice.  

Farm consultant with Southern Farming Systems, Cam Nicholson shares his decision-making framework of using the ‘head, heart and gut’. Emma Ayliffe, agronomist and founder of Yacker, an app that connects farmers, talks about the value of peer-to-peer research (ie. Calling other farmers!). And Jacob Birch, Gamilaraay man, academic and entrepreneur speaks about how to be culturally appropriate in the decision-making process, especially as the native grains and other indigenous industries grow. 

GUESTS 

CAM NICHOLSON is a director of Nicon Rural Services, a consulting business near Geelong working with the grazing and cropping industries. 

Cam has worked in pasture agronomy and soils for 35 years and has been involved in many farmer programs for the GRDC, MLA, Landcare and the current Future Drought Fund.  He provides consultancy advice to farmers and lectures on animal and pasture systems at Marcus Oldham College. 

His most recent work has focused on understanding and discussing risk in farming businesses, carbon accounting and decision making. Cam recently helped revamp information and tools for MLA on pastures and soils. 

EMMA AYLIFFE is a farmer, researcher and consultant based at Tullibigeal, NSW. After moving from South Australia to New South Wales working as a cotton agronomist, Emma moved to Tullibigeal with her partner where they bought her first 1700 acre farm with the support of Craig’s family.  

In 2020-2021, Emma was Australian Young Farmer of the Year. Emma prides herself on being an innovator pushing the boundaries and coming up solutions with farmers problems.   


JACOB BIRCH  is an academic, entrepreneur and Churchill Fellow passionate about re-awakening, and bringing into a modern context, the native grain foodways that sustained his Gamilaraay ancestors for thousands of generations.  

Jacob’s received First Class Honours for a multidisciplinary research project that investigated the nutritional qualities of Australian native grains for human consumption, and Indigenist research methodologies which give agency to First Nations voices and experience.  

Jacob led a national consultation to inform the AgriFutures commissioned Australian Native Grains Strategic RD&E Plan.  

This podcast has been created by the Victoria Drought Resilience Innovation and Adoption Hub and is funded through the Australian Government’s Future Drought Fund.

Tune in to hear:

- Why do we take our autonomic nervous system for granted and why does it have such a profound effect on our ability to be successful communicators?

- What are the different hierarchical states of the nervous system and what role do each of these play in determining the stories we tell ourselves? 

- How would Laura’s work with a client look different than a CBT (Cognitive Behavioral Therapy) approach and why does she believe that nervous system work should come before one should attempt to change their mindset about something?

- Our physical health really underpins our mental health much of the time. When a client is going through a period of stress, and not physical dysfunction, what is a way to introduce “body first” messaging that won’t alienate that client?

- What practical tips does Laura have for the average advisor who is personally taking on a lot of the emotional weight of their client’s problems?

- How can financial professionals be better at providing context for their clients within Laura’s nervous system focused framework?

- Why does choice play such an important role in regulating the state of our nervous system?

- Laura believes that working with the nervous system directly can have profound effects on our financial decision making. Why is this the case?

https://lauralisalarios.com/deepen-masterclass

Compliance Code: 2346-OAS-12/5/2022

Tune in to hear:

- What does Ashvin propose as a better measure of investor success above risk adjusted returns?

- What are the two main reasons why we invest? Ashvin thinks that, with a traditional portfolio, we will be disappointed with at least one of these two dimensions at any given moment - why is this the case?

- What is the three-tiered investment approach that Ashvin came up with and how does it help ameliorate some of the disappointment implicit in investing?

- How does this bucketing approach help clients in both bear and bull markets?

- How does everything we’ve discussed today, with respect to the wealth allocation framework, improve investor behavior?

http://www.aspirationalinvestor.com

Compliance Code: 1118-OAS-6/27/2022

Andy Binns, is the co-founder of Change Logic, a Boston-based strategic advisory firm.  

More about our guest:

Andy works with CEOs, boards, and senior teams as they lead significant business change. His goal is to help organizations liberate their potential to excite the world with innovation. He has 25 years of consulting experience as both an external and internal consultant for McKinsey & Co., the IBM Corporation, and Change Logic. At IBM, Andy was deeply involved in the Emerging Business Opportunity program, for which he received an award from IBM’s vice chairman.

------------------------------------------------
Episode Guide:

1:25 - What Is Innovation

4:34 - Atlanta Opera Company: Approach to innovation

5:48 - Japanese Firm: Approach to innovation

7:19 - Adoption and Adoption Chains: Pfizer and inhalable insulin

11:24 - Book: Corporate Explorer

13:03 - Risk and Resilience

14:33 - Silent Killers of Exploration

14:55 - Silent Killer: Risk Aversion

16:48 - Why "what isn't innovation?"

17:23 - Stanford, Harvard, Corporations, and Research

18:16 - The 3 Classic Errors

21:44 - $10 billion companies: Pampers

22:09 - Google and Microsoft

23:08 - LexisNexis

24:03 - Uniqa (European Insurance Company) and Shared Risk

25:45 - Corporate Explorers' Compensation Models and Reputation Risks

30:15 - Silent Killer: Professional Identity

32:22 - Advice for Innovators

-------------------------
Resources Mentioned: 

Companies mentioned: 

• Microsoft 365 
• LexisNexis
• GE Digital
• Uniqa
• Havas
• Victors and Spoils
• Deloitte
• Atlanta Opera Company

Books Mentioned:

• Corporate Explorer: How Corporations Beat Startups at the Innovation Game  by: Andrew Binns 
  • buy it HERE

Authors Mentioned:

• Ron Adner (Tuck Business School)
  • related works: The Wide Lens: What Successful Innovators See That Others Miss

--------------------------

OUTLAST Consulting offers professional development and strategic advisory services in the areas of innovation and diversity management.

Tune in to hear:

- How does Dr. Bookstaber think about and define risk in the most practical terms possible?

- Does the way people like us talk about risk differ in an overly academic way from how people in the street think about it?

- Which of the sort of commonly discussed current risks seem legitimate to Dr. Bookstaber and which might loom larger in peoples’ minds than they should?

- Why aren’t geopolitical conflicts  more catastrophic to the market than they are with how intertwined the global economy is?

- How should we think about a world where you have to take risks to keep up with inflation but where asset prices seem stretched by some measures?

- Do we now live in a world that’s high-risk in theory but where governments and regulatory bodies keep the scales from tipping too far in a catastrophic direction? Were the FEDs actions during Covid-19 a singular response for a singular time in history?

- How can we be skilled risk managers when we have an asymmetry in the way we weight pessimistic vs. optimistic outcomes?

https://fabricrisk.com

https://www.amazon.com/End-Theory-Financial-Economics-Interaction/dp/0691169012

Compliance Code: 0570-OAS-4/5/2022

How the pandemic mindset creates an atrophy of resilience. The reward that comes with having a daily reckoning with fear. Brittany Spears, media censorship and when “protecting others” goes too far.

Political commentator Mary Katharine Ham joins for a special discussion on the relationship between safety and resilience, and what happens when people live without risk.

CONNECT with The Resilient Life Podcast:

• Instagram 

SUBSCRIBE 

• Get the latest video podcast on YouTube
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CONNECT Ryan Manion on Social Media:

Facebook - Twitter - Instagram - LinkedIn  

LEARN about Travis Manion Foundation

MEET Mary Katharine Ham:

• Mary Katharine Website
• KidFins Swim Vest Kickstarter
• Mary Katharine Twitter

Mary Katharine Instagram

Guest – Frances Harkins, CFP, AIF www.wheelsupwealthinc.com 
Frances Harkins is a CERTIFIED FINANCIAL PLANNER™ professional who has helped Bay Area families, individuals and business owners understand and solve their financial concerns since 2000. Working with those in a variety of professional fields, Frances devotes her time to developing long-term, trusting relationships with every client. In her position as Director of Financial Planning at Wheels Up Wealth, Frances takes pride in helping women gain greater confidence in money matters. In doing so, her goal is to help these clients feel empowered to effectively manage their financial resources.

Host – Teresa Mitchell, CFP ladymoneyllc@gmail.com
In my 20 years in the industry, I have had over a thousand conversations with women who have not felt they have reached their financial potential – usually in the areas of investing and subsequent financial security. I have found the key to moving forward from the image of bag lady to empowered lady is having a different kind of conversation with women than they usually experience with a financial advisor. It is about focusing more deeply on what matters in terms of family, community and life purpose. Approaching the conversation with compassion and a goal of honest, authentic connection creates a sense of trust that makes financial education and taking investment action not only possible but desirable.

To that end I left my longtime wealth management firm and am launching a personal financial coaching platform -- LADY MONEY, LLC. It is intended to help women achieve a sense of financial wellbeing around investing for retirement that imparts peace of mind and ultimately leads to financial security.

Resources...
Loaded: Money, Psychology, and How to Get Ahead without Leaving Your Values Behind by Sarah Newcomb https://www.amazon.com/Loaded-Psychology-without-Leaving-Values/dp/1119258324

The Four Money Bears by Mac Gardner, CFP 
https://www.amazon.com/Four-Money-Bears-Gardner-Paperback/dp/B010711DUW

The popular conception of ants is that “anatomy is destiny”: an ant’s body type determines its role in the colony, for once and ever. But this is not the case; rather than forming rigid castes, ants act like a distributed computer in which tasks are re-allocated as the situation changes. “Division of labor” implies a constant “assembly line” environment, not fluid adaptation to evolving conditions. But ants do not just “graduate” from one task to another as they age; they pivot to accept the work required by their colony in any given moment. In this “agile” and dynamic process, ants act more like verbs than nouns — light on specialization and identity, heavy on collaboration and responsiveness. 

What can we learn from ants about the strategies for thriving in times of uncertainty and turbulence?What are the algorithms that ants use to navigate environmental change, and how might they inform the ways that we design technologies? How might they teach us to invest more wisely, to explore more thoughtfully?

Welcome to COMPLEXITY, the official podcast of the Santa Fe Institute. I’m your host, Michael Garfield, and every other week we’ll bring you with us for far-ranging conversations with our worldwide network of rigorous researchers developing new frameworks to explain the deepest mysteries of the universe.

In this episode we talk to SFI External Professor Deborah Gordon at Stanford University about the lessons we can learn from insect species whose individuals cannot be trained, but whose collective smarts have reshaped every continent. We muse on what the ants can teach us about a wide variety of real-world and philosophical concerns, including:  how our institutions age, how to fight cancer, how to build a more resilient Internet, and why the notion of the “individual” is overdue for renovation…

If you value our research and communication efforts, please subscribe to Complexity Podcast wherever you prefer to listen, rate and review us at Apple Podcasts, and/or consider making a donation at santafe.edu/podcastgive. You can find numerous other ways to engage with us at santafe.edu/engage. Thank you for listening!

Join our Facebook discussion group to meet like minds and talk about each episode.

Podcast theme music by Mitch Mignano.

Follow us on social media:
Twitter • YouTube • Facebook • Instagram • LinkedIn

Key Links:

Deborah Gordon at Stanford

Deborah's TED Talk, "What Ants Can Teach Us About Brain Cancer and The Internet"

Deborah's Google Scholar Page

Deborah's book, Ants at Work: How an Insect Society is Organized

Further Exploration:

Complexity 10 with Melanie Moses (ants, scaling, and computation)

Complexity 29 with David Krakauer (catastrophe and investment strategy)

Complexity 56 with J. Doyne Farmer (market ecology)

Krakauer, et al., "The Information Theory of Individuality"

W. Brian Arthur, "Economics in Nouns & Verbs"

Michael Lachmann's research on Costly Signaling and Cancer