When do you hang tight until the very end, and when do you give in? When do you stick it out, and when do you cut your losses? In the third episode of The Charlie Harary Show, Charlie discusses the art of the fold: when and how to admit fault and cut our losses, rather than continuing previous (and potentially harmful) behavior. Renowned psychologist Dr. David Lieberman joins as guest speaker to explain the psychology behind why we follow through with previous decisions or thought processes even once we know it’s time to fold, how investing ourselves emotionally in decisions blinds us to the truth, and how we skew our decisions to maintain our original positions. Applying examples from the secret side deals of the Iranian nuclear agreement, Wilmer Flores of the Mets, and one of the greatest folds in poker history—Romanello vs. Geller; this episode explains the importance of maintaining objectivity and having the courage to admit one was previously wrong when faced with new information and/or circumstances.
Thank you for listening to The Charlie Harary Show!
If you enjoyed this episode, please leave a rating and written review on iTunes (they affect the ranking of the show) and share the episode on social media (buttons below)! As always, we want to hear from you. Please leave your comments and guest suggestions in the comments section.