Recommended - In Case You Like 'Landman'

I liked this episode of “Capital Allocators” that covered Private Equity in the Oil and Gas business. It may be especially interesting now that everyone is binge-ing “Landman.” The podcast guests mention that their edge was their land team, and they also cover the rise of the Permian basin.

But it could also be interesting to listeners of the ROR podcast.

One of the guests advocates for betting your hot takes, as a way to clarify your thinking and also guard against taking positions you wouldn’t back with money. He says he’s made lots of prop bets over the years and he tracks them all.

Another of the guests says that he plays obscure strategy games because games teach you about marginal value as compared to absolute value.

Either of these thoughts could have come from a ROR podcast guest. Our guests were heavily comprised of games players, and also people who by default were willing to bet on their opinions.

When I started the podcast I knew that the investing world and the advantage gambling world contained people with similar minds. But over time I stopped seeing much difference between the two groups at all, except for whether the individual preferred to sleep at home, or in a dumpy casino hotel room, or in a van.

If you ever end up at a gathering of advantage players it’s a near certainty you’ll get roped into playing some weird game (the rules of which often seem to have been cooked up just a few minutes earlier) and it’s an absolute certainty that there will be money exchanged.