In this week’s episode, Preston and Stig read a book that was highly recommended by billionaire Bill Gates.  The name of the book is Mindset: The New Psychology of Success by Carol Dweck.  Bill Gates says that through clever research studies and engaging writing, Dweck illuminates how our beliefs about our capabilities exert tremendous influence on how we learn and which paths we take in life.

Carol Dweck is a professor of psychology at Stanford University and is known for her work on motivation, personality traits, and development.  The primary premise of her work is rooted in the idea of ability and where it comes from.  Many people believe ability comes from natural skills opposed to hard work and continual learning – Dweck believes the opposite.  More importantly, she suggests that when a person believes and encourages hard work over natural talent, numerous keystone habits and thinking occur that promote success.  Although people might not be able to assess themselves well, they can conduct an analysis based on certain behaviors.  Some of those ideas are what Preston and Stig discuss in the podcast.

If you would like to read our executive summary of Mindset by Carol Dweck, simply follow the link.

In this episode, you’ll learn:

  • Why and how you should evolve from a fixed mindset to a growth mindset
  • How ego stops your personal development and humility makes it grow
  • Ask the investors: What would happen in the financial markets if everyone followed a value investing approach?
  • Ask the investors: How does Stanley Druckenmiller use momentum investing to beat the market?

Tweet your comments about this episode directly to Preston, Stig and the rest of The Investor’s Podcast Community using #TIPMoney.

Books and Resources Mentioned in this Podcast

Carol Dweck’s book, Mindset – Read reviews of this book

Bill Gates’ endorsement of Mindset

Preston and Stig’s first part interview with Dr. Wesley Gray about Quantitative Momentum

Wesley Gray’s book, Quantitative Value – Read reviews of this book

Jim Rodgers’ book, Investment Biker – Read reviews of this book

Join the TIP webinar with FreshBooks hosted by Stig March 29


Freshbooks is the official accounting system of The Investors Podcast. It only charges from $15 a month, but we’ve made a special deal exclusively for our listeners. If you use the bonus code “TIP” under the “How did you hear about us?” section, you can test if Freshbooks is for you for free for 30 days. No credit is required, and you can cancel anytime.

Download Preston and Stig's Free Checklist

Download Preston & Stig's free stock investing checklist. Their checklist was developed after spending countless hours studying billionaires like, Warren Buffett, Carl Icahn, and Ray Dalio. With their checklist, you can find safe picks that protect and grow your principal. Additionally, Preston & Stig read a lot of books and write executive summaries for each book they finish. If you download their checklist, you will be added to their monthly e-mail list where they send their book summaries. There are never any advertisements...ever. Here's an example of one of their executive summaries, based on the book written by Billionaire Charlies Koch.