The Tim Ferriss Show
Graham Duncan [https://grahamduncan.blog/] (@GrahamDuncanNYC [https://x.com/GrahamDuncanNYC]) is the co-founder of East Rock Capital [https://eastrockcap.com/], a multibillion-dollar multi-family investment office he launched in 2006. He is also Chairman of the Sohn Conference Foundation [https://www.sohnconference.org/], which funds pediatric cancer research. This episode was originally published in February 2019. Show notes: https://tim.blog/2019/02/28/graham-duncan/ [https://tim.blog/2019/02/28/graham-duncan/] This episode is brought to you by: * Shopify [https://shopify.com/tim] global commerce platform, providing tools to start, grow, market, and manage a retail business: Shopify.com/tim [https://shopify.com/tim] * Eight Sleep Pod Cover 5 [https://www.eightsleep.com/tim/] sleeping solution for dynamic cooling and heating: EightSleep.com/Tim [https://www.eightsleep.com/tim/] * AG1 [https://drinkag1.com/tim] all-in-one nutritional supplement: DrinkAG1.com/Tim [https://drinkag1.com/tim] * 5-Bullet Friday [https://go.tim.blog/5-bullet-friday-1/?utm_source=timblog&utm_medium=timblog&utm_campaign=podcast-sponsorship], my very own free email newsletter: https://tim.blog/friday [https://tim.blog/friday] Timestamps: * [00:00:00] Start. * [00:02:29] I think of Graham as far more than an investor. How does he describe what he does? * [00:06:13] Absent the systems and frameworks he's honed over time, what made Graham a good talent hunter at the tender age of 24? * [00:08:42] What constitutes taste when Graham is scouting for talent these days? * [00:11:14] Upon meeting someone, how does Graham stress-test whether or not someone is "commercial" in the way they balance aggression and integrity? * [00:16:49] One high-signal question Graham has found particularly useful when trying to determine the quality of anyone from a trader to an OB/GYN. * [00:19:17] When interviewing a potential candidate, how does Graham vet their given references? * [00:22:21] On approaching the reference process with curiosity rather than an attempt to catch anyone with a "gotcha." * [00:25:34] Why does mutual friend Josh Waitzkin call Graham The Wild Gardener? * [00:27:04] How does Graham deal with contradictory perspectives — when the data is telling him one thing and his gut is telling him another? * [00:29:09] What does Graham do to familiarize himself with the way people underwrite their mental models (besides nearly beheading them)? * [00:30:29] Graham talks about his role as an investment coach, of sorts, and how he picks the best "players" for the game at hand. * [00:31:53] What other patterns has Graham noticed in the successful talent he's ended up selecting? * [00:36:06] In what way have others helped Graham surface his hidden assumptions, and how might a coach do the same for others? * [00:39:17] An example of when Graham's "grip" has been a bit too tight around his own beliefs. * [00:40:09] What Byron Katie has taught us about articulating the opposite of such beliefs — and having a mindful lunch. * [00:46:18] When evaluating a team, how does Graham think about each person developing the ability to look at the opposite versus hiring to end up at that optimal mixture? * [00:49:12] How might someone train to more clearly see disconfirming evidence — and roll with the punches when their instincts lead them toward regrettable decisions? * [00:42:21] What books does Graham gift to others most often? * [00:56:11] An aside about Wim Hof and Josh Waitzkin embracing "the other side of pain" to get the most out of life. * [00:59:31] How does James Carse's distinction of finite and infinite games apply to finance, and how would Graham test a potential teammate for compatible sensibility? * [01:02:41] How likely would it be for Graham to invest in a Jocko Willink project? * [01:04:16] Different people have different ways of sniffing around direct questions. Here are a few examples. * [01:05:54] Graham explains what this Kwame Appiah quote means to him: "In life the challenge is not so much to figure out how best to play the game; the challenge is to figure out what game you're playing." * [01:08:13] Going by David Foster Wallace's famous commencement speech, what's your water? Podcasting helps me see mine. * [01:09:32] Graham's take on Greg McKeown's Essentialism. * [01:10:31] How Graham sees careers as a river (with a nod of thanks to neuroscientists Dan Siegel and Tina Payne Bryson's model of well-being). * [01:12:53] Toward which bank do the top one percent in any given field swim? What if that field is financial markets? What if that field is writing fiction novels? * [01:16:39] The differences between millionaires, billionaires, cultural billionaires, and time billionaires. * [01:18:47] An idea for how Tim Urban might allow for personalization of his 90-year-life calendar. * [01:20:00] Are you more concerned about the length of your life or its width? * [01:20:38] Life changes Graham and I have both made as a direct result of reading Tim Urban's "The Tail End" piece at Wait But Why. * [01:22:05] How does Graham try to appreciate the width of his life? * [01:25:05] Aside from the aforementioned Kwame Appiah quote, what might Graham put on his billboard? * [01:25:52] The power to be found in treating negative feelings like welcome party guests. * [01:27:43] Parting thoughts from Mark Twain and Graham. * For show notes and past guests on The Tim Ferriss Show [https://tim.blog/podcast], please visit tim.blog/podcast [https://tim.blog/podcast/?utm_source=podcast&utm_medium=podcast&utm_campaign=podcast-description]. 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