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Think Like a Freak : Chapter 2 Summary

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by

Remi shea

on 2 February 2015

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Transcript of Think Like a Freak : Chapter 2 Summary

Jake Schuster and Remi Shea
Think Like a Freak : Chapter 2 Summary
One's ego is what gets in the way of true success. To come to the conclusion that
you don't know
everything is important for one's learning curve. One can make more room for real knowledge by putting ego aside.

Basically, don't fake it 'til you make it.
Point to Ponder:
Maybe we need more economists like Thomas Sargent. He too won a Nobel, for his work
measuring macroeconomic cause and effect. Sargent has likely forgotten more about inflation and
interest rates than the rest of us will ever know. When Ally Bank wanted to make a TV commercial a
few years ago touting a certificate of deposit with a “raise your rate” feature, Sargent was cast in the
lead.
The setting is an auditorium whose stage evokes a university club: ornate chandeliers, orderly
bookshelves, walls hung with portraits of distinguished gentlemen. Sargent, seated regally in a leather
club chair, awaits his introduction. A moderator begins:

MODERATOR: Tonight, our guest: Thomas Sargent, Nobel laureate in economics and one of the most-cited economists in the world. Professor Sargent, can you tell me what CD rates will be in two years?
SARGENT: No.
Favorite Passage
Symbol
Question #1: How do you rank your driving?

Below Average

Average

Above Average
Experiment Time
Question #2: Do you mind being wrong?

Yes / No

Favorite Quote
“Everyone’s entitled to their own opinion but not to their own facts.” - Daniel Patrick Moynihan
Full transcript