Nicolai Tangen is the CEO of Norges Bank Investment Management, the world’s largest sovereign wealth fund. He is responsible for managing $2.1 trillion. That’s roughly 1.7% of every listed company on earth.
Featured clips
American vs. European Mindset
Can You Teach People to Change Their Minds?
What’s Gotten Harder in Investing?
Slowing Down Decisions
In this episode, we explore the intersection of massive wealth, high-speed decision-making, and the psychological traits required to survive the AI revolution.
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+ Check out the Granola Notes of this episode.
Tiny Lessons
1. The faster you reply, the less you need to say. If you reply in a minute, you can say two words. If you wait a day, it’s a paragraph.
2. Overanalyzing doesn’t improve the outcome. It just makes you more confident about the outcome.
3. “If you have really high ambitions, you achieve great things even if you fail. If you have low ambitions, you achieve nothing even if you succeed.”
4. “You call it gut feel, nobody believes in it. You call it pattern recognition, a lot of people believe in it.”
5. Repetition is persuasive.
6. “Why make the same mistakes when there are so many to choose from? Find some new ones.”
7. Take the same amount of risk after a win and a loss.
8. “Things shouldn’t take longer than they need to take.”
9. Doing nothing is often the best option.
10. Speed and agility are the only hedge in a world you can’t predict.
11. Be impenetrable against social pressure and instant in responding to evidence.
12. The people who feel weird, different, and misunderstood are the ones who change the world.
13. Changing a culture is a ten-year project. If you think you’re halfway done in two, you haven’t started.
14. Asking for advice makes people think you’re smart because you are clever enough to recognize how clever they are.
15. “If you’re not curious, you’re not going to listen.”
16. “I would inject AI everywhere. I would just go all in.”
17. “It’s difficult to find people who are really contrarian now because you need to live in a space where people don’t agree with you.”
18. “You don’t have to be disliked even though people disagree with you.”
19. You can’t please everyone. Even if you are right, 10% of people will disagree with you.
20. The source of most of our poor decisions is blind spots.
21. “I don’t think you should profit from people who have a tough time.”
22. “Wealth is basically created by owning one or two really good assets, and then you just hold onto it for the very long term.”
