{"id":3197,"date":"2023-07-05T19:05:50","date_gmt":"2023-07-05T23:05:50","guid":{"rendered":"https:\/\/parmaks.com\/Resources\/richard-koch-revisiting-the-80-20-principle-the-power-of-optimistic-journaling-studying-history-to-improve-investing-and-the-grand-beliefs-of-winners-plus-the-toxic-beliefs-of-losers\/"},"modified":"2023-07-05T19:05:50","modified_gmt":"2023-07-05T23:05:50","slug":"richard-koch-revisiting-the-80-20-principle-the-power-of-optimistic-journaling-studying-history-to-improve-investing-and-the-grand-beliefs-of-winners-plus-the-toxic-beliefs-of-losers","status":"publish","type":"post","link":"http:\/\/parmaks.com\/Resources\/richard-koch-revisiting-the-80-20-principle-the-power-of-optimistic-journaling-studying-history-to-improve-investing-and-the-grand-beliefs-of-winners-plus-the-toxic-beliefs-of-losers\/","title":{"rendered":"Richard Koch \u2014 Revisiting the 80\/20 Principle, The Power of Optimistic Journaling, Studying History to Improve Investing, and The Grand Beliefs of Winners (Plus: The Toxic Beliefs of Losers) (#680)"},"content":{"rendered":"<p> <a href=\"https:\/\/hop.clickbank.net\/?affiliate=infohatch&amp;vendor=J1R2C\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-10614 aligncenter\" src=\"http:\/\/parmaks.com\/Resources\/wp-content\/uploads\/2025\/05\/profit-gen400px.png\" alt=\"Profit Gen\" width=\"400\" height=\"217\" srcset=\"http:\/\/parmaks.com\/Resources\/wp-content\/uploads\/2025\/05\/profit-gen400px.png 400w, http:\/\/parmaks.com\/Resources\/wp-content\/uploads\/2025\/05\/profit-gen400px-300x163.png 300w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/><\/a><br \/>\n<\/p>\n<div>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"480\" alt=\"\" class=\"wp-image-68232 jetpack-lazy-image\" data-recalc-dims=\"1\" srcset=\"https:\/\/i0.wp.com\/tim.blog\/wp-content\/uploads\/2023\/07\/Richard-Koch-Illustration--scaled.jpeg?resize=1024%2C819&amp;ssl=1 1024w, https:\/\/i0.wp.com\/tim.blog\/wp-content\/uploads\/2023\/07\/Richard-Koch-Illustration--scaled.jpeg?resize=300%2C240&amp;ssl=1 300w, https:\/\/i0.wp.com\/tim.blog\/wp-content\/uploads\/2023\/07\/Richard-Koch-Illustration--scaled.jpeg?resize=768%2C614&amp;ssl=1 768w, https:\/\/i0.wp.com\/tim.blog\/wp-content\/uploads\/2023\/07\/Richard-Koch-Illustration--scaled.jpeg?resize=1536%2C1229&amp;ssl=1 1536w, https:\/\/i0.wp.com\/tim.blog\/wp-content\/uploads\/2023\/07\/Richard-Koch-Illustration--scaled.jpeg?resize=2048%2C1638&amp;ssl=1 2048w, https:\/\/i0.wp.com\/tim.blog\/wp-content\/uploads\/2023\/07\/Richard-Koch-Illustration--scaled.jpeg?w=1200&amp;ssl=1 1200w, https:\/\/i0.wp.com\/tim.blog\/wp-content\/uploads\/2023\/07\/Richard-Koch-Illustration--scaled.jpeg?w=1800&amp;ssl=1 1800w\" data-lazy-sizes=\"(max-width: 767px) 90vw, 600px\" src=\"https:\/\/i0.wp.com\/tim.blog\/wp-content\/uploads\/2023\/07\/Richard-Koch-Illustration-.jpeg?resize=600%2C480&amp;is-pending-load=1#038;ssl=1\"\/><noscript><img loading=\"lazy\" data-lazy-fallback=\"1\" decoding=\"async\" width=\"600\" height=\"480\" src=\"https:\/\/i0.wp.com\/tim.blog\/wp-content\/uploads\/2023\/07\/Richard-Koch-Illustration-.jpeg?resize=600%2C480&amp;ssl=1\" alt=\"\" class=\"wp-image-68232\" srcset=\"https:\/\/i0.wp.com\/tim.blog\/wp-content\/uploads\/2023\/07\/Richard-Koch-Illustration--scaled.jpeg?resize=1024%2C819&amp;ssl=1 1024w, https:\/\/i0.wp.com\/tim.blog\/wp-content\/uploads\/2023\/07\/Richard-Koch-Illustration--scaled.jpeg?resize=300%2C240&amp;ssl=1 300w, https:\/\/i0.wp.com\/tim.blog\/wp-content\/uploads\/2023\/07\/Richard-Koch-Illustration--scaled.jpeg?resize=768%2C614&amp;ssl=1 768w, https:\/\/i0.wp.com\/tim.blog\/wp-content\/uploads\/2023\/07\/Richard-Koch-Illustration--scaled.jpeg?resize=1536%2C1229&amp;ssl=1 1536w, https:\/\/i0.wp.com\/tim.blog\/wp-content\/uploads\/2023\/07\/Richard-Koch-Illustration--scaled.jpeg?resize=2048%2C1638&amp;ssl=1 2048w, https:\/\/i0.wp.com\/tim.blog\/wp-content\/uploads\/2023\/07\/Richard-Koch-Illustration--scaled.jpeg?w=1200&amp;ssl=1 1200w, https:\/\/i0.wp.com\/tim.blog\/wp-content\/uploads\/2023\/07\/Richard-Koch-Illustration--scaled.jpeg?w=1800&amp;ssl=1 1800w\" sizes=\"auto, (max-width: 767px) 90vw, 600px\" data-recalc-dims=\"1\"\/><\/noscript><figcaption class=\"wp-element-caption\">Illustration via <a rel=\"nofollow external noopener noreferrer\" target=\"_blank\" href=\"http:\/\/99designs.com\/tim\">99designs<\/a><\/figcaption><\/figure>\n<blockquote class=\"wp-block-quote\">\n<p><strong><strong><strong><strong>\u201cM. Scott Peck wrote a book which starts, \u2018Life is difficult.\u2019 This is one of the great things about life. If you understand this, you can transcend it, because you anticipate that things are going to be difficult, and you can take pride in overcoming difficulties. But if you expect there are going to be no difficulties, obviously you are going to be disillusioned.\u201d<\/strong><\/strong><\/strong><\/strong><\/p>\n<p><cite>\u2014\u00a0Richard Koch<\/cite><\/p><\/blockquote>\n<p><strong>Richard Koch\u00a0<\/strong>(<a href=\"https:\/\/twitter.com\/RichardKoch8020\" rel=\"nofollow external noopener noreferrer\" target=\"_blank\">@RichardKoch8020<\/a>)\u00a0is an entrepreneur, investor, former strategy consultant, and\u00a0<a href=\"https:\/\/richardkoch.net\/books\" rel=\"nofollow external noopener noreferrer\" target=\"_blank\">author of several books<\/a>\u00a0on business and ideas, including four on how to apply the 80\/20 principle in all walks of life.<\/p>\n<p>His investments have grown at 22 percent compounded annually over 37 years and have included Filofax, Plymouth Gin, Belgo, Betfair, FanDuel, and Auto1. He has worked for Boston Consulting Group and was a partner at Bain &amp; Co. before joining Jim Lawrence and Iain Evans to start LEK, which expanded from three to 350 professionals during the six years Richard was there.<\/p>\n<p>In 1997, Richard\u2019s book\u00a0<a href=\"https:\/\/www.amazon.com\/80-20-Principle-Secret-Achieving\/dp\/0385491743\/?tag=offsitoftimfe-20\" rel=\"nofollow external noopener noreferrer\" target=\"_blank\"><strong><em>The 80\/20 Principle<\/em><\/strong><\/a><strong>\u00a0<\/strong>reinterpreted the Pareto Rule\u2014which states that most results come from a small minority of causes\u2014and extended it beyond its well-known application in business into personal life, happiness, and success. The book, rewritten in 2022, has sold more than a million copies, been translated into roughly 40 languages, and has become a business classic. It was named by\u00a0<em>GQ<\/em>\u00a0as one of the top 25 business books of all time. Richard\u2019s latest book is\u00a0<a href=\"https:\/\/www.amazon.com\/Unreasonable-Success-How-Achieve-Unlocking\/dp\/1642011363\/?tag=offsitoftimfe-20\" rel=\"nofollow external noopener noreferrer\" target=\"_blank\"><em>Unreasonable Success and How to Achieve It<\/em><\/a>.\u00a0<\/p>\n<p>He has two upcoming books:\u00a0<strong><em>80\/20 Beliefs<\/em><\/strong>,<strong><em>\u00a0<\/em><\/strong>which<strong><em>\u00a0<\/em><\/strong>identifies the very few beliefs in our lives that strongly influence what we do, and, therefore, the results we get, as well as\u00a0<strong><em>80\/20 Daily<\/em><\/strong>, a collection of 365 short daily readings using the 80\/20 philosophy to achieve the good life.<\/p>\n<p>Please enjoy!<\/p>\n<p><strong><em><strong><em>Listen to the episode on <a href=\"https:\/\/podcasts.apple.com\/us\/podcast\/680-richard-koch-revisiting-the-80-20-principle-the\/id863897795?i=1000619418826\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Apple Podcasts<\/a>, <a rel=\"nofollow external noopener noreferrer\" target=\"_blank\" href=\"https:\/\/open.spotify.com\/episode\/1lEgrjwkuVdCCj6l4CBXmV?si=GbUYW-WdRn-ijBguQNcxeg\">Spotify<\/a>, <a href=\"https:\/\/overcast.fm\/+KebvcdcYo\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Overcast<\/a>, <a href=\"https:\/\/podcastaddict.com\/podcast\/2031148#\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Podcast Addict<\/a>, <a href=\"https:\/\/pca.st\/timferriss\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Pocket Casts<\/a>, <a href=\"https:\/\/castbox.fm\/channel\/id1059468?country=us\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Castbox<\/a>, <a href=\"https:\/\/podcasts.google.com\/?feed=aHR0cHM6Ly9yc3MuYXJ0MTkuY29tL3RpbS1mZXJyaXNzLXNob3c&amp;ved=0CAAQ4aUDahcKEwjI_ezXzuDnAhUAAAAAHQAAAAAQAQ\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Google Podcasts<\/a>, <strong><em><strong><em><a href=\"https:\/\/music.amazon.com\/podcasts\/9814f3cc-1dc5-4003-b816-44a8eb6bf666\/the-tim-ferriss-show\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Amazon Music<\/a>,\u00a0<\/em><\/strong><\/em><\/strong>or on your favorite podcast platform<\/em><\/strong><\/em><\/strong><em><strong>.<\/strong><\/em><\/p>\n<p><strong><em><strong><em><strong>Brought to you by\u00a0<\/strong><a href=\"http:\/\/secureframe.com\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><strong>Secureframe<\/strong><\/a><strong>\u00a0automated security and privacy compliance platform,\u00a0<\/strong><a href=\"http:\/\/eightsleep.com\/Tim\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><strong>Eight Sleep\u2019s Pod Cover<\/strong><\/a><strong>\u00a0sleeping solution for dynamic cooling and heating, and\u00a0<\/strong><a href=\"https:\/\/wealthfront.com\/tim\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><strong>Wealthfront<\/strong><\/a><strong>\u00a0high-yield savings account.<\/strong><\/em><\/strong><\/em><\/strong><\/p>\n<div class=\"wp-block-tim-podcast-link-main podcast-block wp-embed-aspect-16-9 wp-has-aspect-ratio\"><a class=\"podcast-block__link\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\" href=\"https:\/\/podcasts.apple.com\/us\/podcast\/680-richard-koch-revisiting-the-80-20-principle-the\/id863897795?i=1000619418826\"><img decoding=\"async\" class=\"podcast-block__link-icon jetpack-lazy-image\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/tim.blog\/wp-content\/themes\/timferriss\/inc\/blocks\/podcast-link\/images\/apple-podcast.png?w=600&amp;is-pending-load=1#038;ssl=1\" srcset=\"https:\/\/tim.blog\/data:image\/gif;base64,https:\/\/tim.blog\/R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\"\/><noscript><img data-lazy-fallback=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/tim.blog\/wp-content\/themes\/timferriss\/inc\/blocks\/podcast-link\/images\/apple-podcast.png?w=600&amp;ssl=1\" class=\"podcast-block__link-icon\" data-recalc-dims=\"1\"\/><\/noscript><span class=\"podcast-block__link-text-top\">Listen on<\/span><span class=\"podcast-block__link-text\">Apple Podcasts<\/span><\/a><\/div>\n<div class=\"wp-block-tim-podcast-link-main podcast-block wp-embed-aspect-16-9 wp-has-aspect-ratio\"><a class=\"podcast-block__link\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\" href=\"https:\/\/open.spotify.com\/episode\/1lEgrjwkuVdCCj6l4CBXmV?si=GbUYW-WdRn-ijBguQNcxeg\"><img loading=\"lazy\" width=\"167\" height=\"167\" decoding=\"async\" class=\"podcast-block__link-icon jetpack-lazy-image\" src=\"https:\/\/tim.blog\/wp-content\/themes\/timferriss\/inc\/blocks\/podcast-link\/images\/spotify.svg?is-pending-load=1\" srcset=\"https:\/\/tim.blog\/data:image\/gif;base64,https:\/\/tim.blog\/R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\"\/><noscript><img data-lazy-fallback=\"1\" decoding=\"async\" src=\"https:\/\/tim.blog\/wp-content\/themes\/timferriss\/inc\/blocks\/podcast-link\/images\/spotify.svg\" class=\"podcast-block__link-icon\"\/><\/noscript><span class=\"podcast-block__link-text-top\">Listen on<\/span><span class=\"podcast-block__link-text\">Spotify<\/span><\/a><\/div>\n<div class=\"wp-block-tim-podcast-link-main podcast-block wp-embed-aspect-16-9 wp-has-aspect-ratio\"><a class=\"podcast-block__link\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\" href=\"https:\/\/overcast.fm\/+KebvcdcYo\"><img loading=\"lazy\" width=\"1000\" height=\"1000\" decoding=\"async\" class=\"podcast-block__link-icon jetpack-lazy-image\" src=\"https:\/\/tim.blog\/wp-content\/themes\/timferriss\/inc\/blocks\/podcast-link\/images\/overcast.svg?is-pending-load=1\" srcset=\"https:\/\/tim.blog\/data:image\/gif;base64,https:\/\/tim.blog\/R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\"\/><noscript><img data-lazy-fallback=\"1\" decoding=\"async\" src=\"https:\/\/tim.blog\/wp-content\/themes\/timferriss\/inc\/blocks\/podcast-link\/images\/overcast.svg\" class=\"podcast-block__link-icon\"\/><\/noscript><span class=\"podcast-block__link-text-top\">Listen on<\/span><span class=\"podcast-block__link-text\">Overcast<\/span><\/a><\/div>\n<div class=\"podcast-player\">\n<div class=\"podcast-player-inner-wrap\">\n<p>#680: Richard Koch \u2014 Revisiting the 80\/20 Principle, The Power of Optimistic Journaling, Studying History to Improve Investing, and The Grand Beliefs of Winners (Plus: The Toxic Beliefs of Losers)<\/p>\n<p><noscript><iframe src=\"https:\/\/www.art19.com\/shows\/58dacbdc-646e-4585-9914-19c3de11d1ba\/episodes\/64d47132-26a0-4a6e-86f2-bdfb848f7687\/embed?type=micro\" style=\"width: 100%; height: 30px; border: 0 none;\" scrolling=\"no\"><\/iframe><\/noscript><\/div>\n<\/div>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n<div class=\"wp-block-group is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group__inner-container\">\n<p><strong>This episode is brought to you by\u00a0<\/strong><a href=\"http:\/\/secureframe.com\/\" rel=\"nofollow external noopener noreferrer\" target=\"_blank\"><strong>Secureframe<\/strong><\/a><strong>!<\/strong>\u00a0Secureframe\u2019s industry-leading compliance automation platform, paired with their in-house compliance experts and former auditors, helps you\u00a0<strong>get audit-ready in weeks<\/strong>, not months, so you can close more deals faster.\u00a0<\/p>\n<p>Secureframe simplifies and streamlines the process of getting and staying compliant to the most rigorous global privacy and security standards. They help thousands of businesses\u00a0<strong>achieve compliance with security and privacy frameworks including SOC 2, ISO 27001, HIPAA, PCI, and GDPR<\/strong>.\u00a0<strong>Schedule a demo today at\u00a0<\/strong><a href=\"http:\/\/secureframe.com\/\" rel=\"nofollow external noopener noreferrer\" target=\"_blank\"><strong>Secureframe.com<\/strong><\/a><strong>, and tell them during the demo that Tim Ferriss sent you to unlock 10% off for your first year.<\/strong><\/p>\n<\/div>\n<\/div>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n<p><strong>This episode is brought to you by\u00a0<\/strong><a href=\"http:\/\/wealthfront.com\/tim\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><strong>Wealthfront<\/strong><\/a><strong>!<\/strong>\u00a0Wealthfront is an app that helps you save and invest your money.\u00a0Right now, you can earn\u00a0<strong>4.55%<\/strong>\u00a0APY\u2014that\u2019s the Annual Percentage Yield\u2014with the\u00a0<a href=\"http:\/\/wealthfront.com\/tim\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Wealthfront Cash Account<\/a>. That\u2019s\u00a0more than <strong>eleven times<\/strong>\u00a0more interest than if you left your money in a savings account at the average bank, according to FDIC.gov.\u00a0<\/p>\n<p>It takes just a few minutes to sign up, and then you\u2019ll immediately start earning 4.55% interest on your savings.\u00a0And when you open an account today, you\u2019ll get\u00a0<a href=\"http:\/\/wealthfront.com\/tim\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><strong>an extra fifty-dollar bonus<\/strong><\/a><strong>\u00a0<\/strong>with a deposit of five hundred dollars or more.\u00a0<strong>Visit\u00a0<\/strong><a href=\"http:\/\/wealthfront.com\/tim\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><strong>Wealthfront.com\/Tim<\/strong><\/a><strong>\u00a0to get started.<\/strong><\/p>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n<p><strong>This episode is brought to you by <\/strong><a href=\"http:\/\/eightsleep.com\/Tim\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><strong>Eight Sleep<\/strong><\/a><strong>!<\/strong> <a href=\"http:\/\/eightsleep.com\/Tim\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Eight Sleep\u2019s <strong>Pod Cover<\/strong><\/a> is the <strong>easiest and fastest way to sleep at the perfect temperature<\/strong>. It pairs dynamic cooling and heating with biometric tracking to offer the most advanced (and user-friendly) solution on the market. Simply add <a href=\"http:\/\/eightsleep.com\/Tim\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">the Pod Cover<\/a> to your current mattress and start sleeping as cool as 55\u00b0F or as hot as 110\u00b0F. It also splits your bed in half, so your partner can choose a totally different temperature.<\/p>\n<p><strong><strong>Go to <\/strong><a href=\"http:\/\/eightsleep.com\/Tim\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><strong>EightSleep.com\/Tim<\/strong><\/a><strong> and save $250 on the Eight Sleep Pod Cover. Eight Sleep currently ships within the USA, Canada, the UK, select countries in the EU, and Australia.<\/strong><\/strong><\/p>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n<p><strong>Want to hear the last time <a href=\"https:\/\/tim.blog\/2020\/09\/22\/richard-koch\/\" target=\"_blank\" rel=\"noreferrer noopener\">Richard Koch<\/a> was on the show?<\/strong> <a href=\"https:\/\/tim.blog\/2020\/09\/22\/richard-koch\/\" target=\"_blank\" rel=\"noreferrer noopener\">Listen here<\/a> to our conversation in which we discussed investing for the mathematically challenged, Oxford Bodleian Library secrets, writing <em>The 80\/20 Principle<\/em>, optimizing happiness, different journaling styles, nine landmarks of successful people, Nelson Mandela\u2019s unique intuition, <a href=\"https:\/\/tim.blog\/2020\/09\/22\/richard-koch\/\" target=\"_blank\" rel=\"noreferrer noopener\">and much more<\/a>.<\/p>\n<div class=\"podcast-player\">\n<div class=\"podcast-player-inner-wrap\">\n<p>#466: Richard Koch on Mastering the 80\/20 Principle, Achieving Unreasonable Success, and the Art of Gambling<\/p>\n<p><noscript><iframe src=\"https:\/\/www.art19.com\/shows\/58dacbdc-646e-4585-9914-19c3de11d1ba\/episodes\/a691b027-5edf-4218-af3c-852b684f2ede\/embed?type=micro\" style=\"width: 100%; height: 30px; border: 0 none;\" scrolling=\"no\"><\/iframe><\/noscript><\/div>\n<\/div>\n<p><strong>What was your favorite quote or lesson from this episode? Please let me know <a href=\"https:\/\/tim.blog\/2023\/07\/05\/richard-koch-2\/#respond\">in the comments<\/a>.<\/strong><\/p>\n<p><strong>SCROLL BELOW FOR LINKS AND SHOW NOTES\u2026<\/strong><\/p>\n<p><span id=\"more-68230\"\/><\/p>\n<h3 class=\"wp-block-heading\" id=\"hhs\">SELECTED LINKS FROM THE EPISODE<\/h3>\n<ul>\n<li>Connect with <strong>Richard Koch<\/strong>:<\/li>\n<\/ul>\n<p class=\"has-text-align-center\"><a href=\"https:\/\/richardkoch.net\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Website<\/a> | <a href=\"https:\/\/twitter.com\/RichardKoch8020\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Twitter<\/a><\/p>\n<ul>\n<li><a rel=\"nofollow external noopener noreferrer\" target=\"_blank\" href=\"https:\/\/forms.gle\/i3sqvbpSDh1XCKWq8\"><strong>THE OXFORD EXPERIENCE at WADHAM COLLEGE, OXFORD<\/strong> | Contact form<\/a><\/li>\n<li><a href=\"https:\/\/tim.blog\/2020\/09\/22\/richard-koch\/\" target=\"_blank\" rel=\"noreferrer noopener\">Richard Koch on Mastering the 80\/20 Principle, Achieving Unreasonable Success, and the Art of Gambling | The Tim Ferriss Show #466<\/a><\/li>\n<li><a href=\"https:\/\/www.amazon.com\/Unreasonable-Success-How-Achieve-Unlocking\/dp\/1642011363\/?tag=offsitoftimfe-20\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Unreasonable Success and How to Achieve It: Unlocking the 9 Secrets of People Who Changed the World by Richard Koch | Amazon<\/a><\/li>\n<li><a href=\"https:\/\/www.amazon.com\/80-20-Principle-Secret-Achieving\/dp\/0385491743\/?tag=offsitoftimfe-20\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">The 80\/20 Principle: The Secret to Achieving More with Less by Richard Koch | Amazon<\/a><\/li>\n<li><a href=\"https:\/\/what3words.com\/clip.apples.leap\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">The Simplest Way to Talk about Location | What3Words<\/a><\/li>\n<li><a href=\"https:\/\/www.glastonburyfestivals.co.uk\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Glastonbury Festival of Contemporary Performing Arts<\/a><\/li>\n<li><a href=\"https:\/\/tim.blog\/2017\/05\/15\/fear-setting\/\" target=\"_blank\" rel=\"noreferrer noopener\">Fear-Setting: The Most Valuable Exercise I Do Every Month | Tim Ferriss<\/a><\/li>\n<li><a href=\"https:\/\/www.codusoperandi.com\/posts\/increasing-your-luck-surface-area\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">How to Increase Your Luck Surface Area | Codus Operandi<\/a><\/li>\n<li><a href=\"https:\/\/www.investopedia.com\/ask\/answers\/what-tranche\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Tranche: Definition in Finance, Purposes, and Examples | Investopedia<\/a><\/li>\n<li><a href=\"https:\/\/en.wikipedia.org\/wiki\/Betfair\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Betfair | Wikipedia<\/a><\/li>\n<li><a href=\"https:\/\/en.wikipedia.org\/wiki\/Bookmaker\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Bookmaker | Wikipedia<\/a><\/li>\n<li><a href=\"http:\/\/www.matterofstats.com\/what-is-vig-and-overround\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">What Is Vig and Overround? | Matter of Stats<\/a><\/li>\n<li><a href=\"https:\/\/www.youtube.com\/watch?v=YuR3eiw19AY\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Filofax Company Turnaround Strategy (Richard Koch) | Planet Perry<\/a><\/li>\n<li><a href=\"https:\/\/en.wikipedia.org\/wiki\/Belgo\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Belgo | Wikipedia<\/a><\/li>\n<li><a href=\"https:\/\/just-drinks.nridigital.com\/just-drinks_may21\/plymouth_gin_unlucky\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Is Plymouth Gin the Unluckiest Spirits Brand Ever? | Just Drinks<\/a><\/li>\n<li><a href=\"https:\/\/theartoftastingportugal.com\/en\/products\/mackerel\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Mackerel | The Art of Tasting Portugal<\/a><\/li>\n<li><a href=\"https:\/\/plato.stanford.edu\/entries\/counterfactuals\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Counterfactuals | Stanford Encyclopedia of Philosophy<\/a><\/li>\n<li><a href=\"https:\/\/www.historians.org\/research-and-publications\/perspectives-on-history\/may-2015\/counterfactual-history-and-the-outbreak-of-world-war-i\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Counterfactual History and the Outbreak of World War I | American Historical Association<\/a><\/li>\n<li><a href=\"http:\/\/thecounterfactualhistoryreview.blogspot.com\/2017\/11\/no-lenin-no-hitler-reflections-on-simon.html\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">\u201cNo Lenin, No Hitler?\u201d Reflections on Simon Sebag Montefiore\u2019s Bolshevik Revolution Counterfactual | The Counterfactual History Review<\/a><\/li>\n<li><a href=\"https:\/\/www.investopedia.com\/terms\/e\/expected-value.asp\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Expected Value Definition, Formula, and Examples | Investopedia<\/a><\/li>\n<li><a href=\"https:\/\/www.bain.com\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Global Management Consulting Firm | Bain &amp; Company<\/a><\/li>\n<li><a href=\"https:\/\/www.bcg.com\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Strategic Management Consulting | Boston Consulting Group<\/a><\/li>\n<li><a href=\"https:\/\/www.bcg.com\/about\/overview\/our-history\/growth-share-matrix\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">What Is the Growth Share Matrix? | Boston Consulting Group<\/a><\/li>\n<li><a href=\"https:\/\/www.psychologytoday.com\/us\/blog\/talking-apes\/202112\/does-marriage-actually-make-people-happier\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Does Marriage Actually Make People Happier? | Psychology Today<\/a><\/li>\n<li><a href=\"https:\/\/www.cnbc.com\/2019\/05\/31\/harvard-professor-says-winning-20-million-lottery-wont-make-you-happy-but-heres-what-will.html\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Harvard Professor: Winning the Lottery Won\u2019t Make You Happier in Life | CNBC<\/a><\/li>\n<li><a href=\"https:\/\/www.census.gov\/content\/dam\/Census\/library\/publications\/2020\/demo\/p25-1145.pdf\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Living Longer: Historical and Projected Life Expectancy in the United States, 1960 to 2060 | US Census Bureau<\/a><\/li>\n<li><a href=\"https:\/\/www.gottman.com\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">A Research-Based Approach to Relationships | The Gottman Institute<\/a><\/li>\n<li><a href=\"https:\/\/richardkoch.net\/blog\/554-where-will-you-be-happiest\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Where Will You Be Happiest? | Richard Koch<\/a><\/li>\n<li><a href=\"https:\/\/www.capetown.travel\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Cape Town Tourism<\/a><\/li>\n<li><a href=\"https:\/\/www.youtube.com\/watch?v=IKumQCTNJOY\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Doris Day: Que Sera, Sera | YouTube<\/a><\/li>\n<li><a href=\"https:\/\/www.portugal.com\/moving-to-portugal\/the-pros-and-cons-of-moving-to-portugal-as-an-expat\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">The Pros and Cons of Moving to Portugal as an Expat | Portugal<\/a><\/li>\n<li><a href=\"https:\/\/www.amazon.com\/Road-Less-Traveled-Timeless-Traditional\/dp\/0743243153\/?tag=offsitoftimfe-20\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">The Road Less Traveled: A New Psychology of Love, Traditional Values, and Spiritual Growth by M. Scott Peck | Amazon<\/a><\/li>\n<li><a href=\"https:\/\/www.knoxnews.com\/story\/money\/columnists\/david-moon\/2020\/10\/08\/happiness-reality-minus-expectations-david-moon\/3636720001\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Tom Magliozzi: Happiness is Reality Minus Expectations | The Knoxville News Sentinel<\/a><\/li>\n<li><a href=\"https:\/\/www.amazon.com\/Meditations-Marcus-Aurelius\/dp\/1545565678\/?tag=offsitoftimfe-20\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Meditations by Marcus Aurelius | Amazon<\/a><\/li>\n<li><a href=\"https:\/\/www.ft.com\/content\/2bf8dd43-78ca-4d2f-935e-70c9d34e1a5d\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Church or Cult? Inside the Moonies\u2019 \u2018World of Delusion\u2019 | Financial Times<\/a><\/li>\n<li><a href=\"https:\/\/www.lek.com\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Strategy Consulting Firm | L.E.K. Consulting<\/a><\/li>\n<li><a href=\"https:\/\/www.amazon.com\/Mental-Toughness-Training-Sports-Excellence\/dp\/0828905746\/?tag=offsitoftimfe-20\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Mental Toughness Training for Sports: Achieving Athletic Excellence by James E. Loehr | Amazon<\/a><\/li>\n<li><a href=\"https:\/\/able2know.org\/topic\/235510-1\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Rumble in (British) English Slang | Able2Know<\/a><\/li>\n<li><a href=\"https:\/\/www.buddhanet.net\/e-learning\/karma.htm\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Basic Buddhism: The Theory of Karma | BuddhaNet<\/a><\/li>\n<li><a href=\"https:\/\/richardkoch.net\/blog\/447-the-lost-religion-of-love-optimism\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">The Lost Religion of Love and Optimism | Richard Koch<\/a><\/li>\n<li><a href=\"https:\/\/www.youtube.com\/watch?v=5Y0dGHkAkIY\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">The Log Song | The Ren &amp; Stimpy Show<\/a><\/li>\n<li><a href=\"https:\/\/www.youtube.com\/watch?v=7dC9HsP3wvM\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">England World Cup 1966 Stamp | Exploring Stamps<\/a><\/li>\n<li><a href=\"https:\/\/www.aacr.org\/blog\/2023\/01\/13\/experts-forecast-cancer-research-and-treatment-advances-in-2023\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Experts Forecast Cancer Research and Treatment Advances | American Association for Cancer Research<\/a><\/li>\n<li><a href=\"https:\/\/www.youtube.com\/watch?v=Cfg5zoAXciw\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">English Patriotic Song: The Spanish Armada | English Folk Project<\/a><\/li>\n<li><a href=\"https:\/\/www.amazon.com\/Churchill-Walking-Destiny-Andrew-Roberts\/dp\/1101981008\/?tag=offsitoftimfe-20\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Churchill: Walking with Destiny by Andrew Roberts | Amazon<\/a><\/li>\n<li><a href=\"https:\/\/winstonchurchill.hillsdale.edu\/shall-one-save-london\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">\u201cI Shall Be the One to Save London\u201d | The Churchill Project<\/a><\/li>\n<li><a href=\"https:\/\/en.wikipedia.org\/wiki\/FanDuel\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">FanDuel | Wikipedia<\/a><\/li>\n<li><a href=\"https:\/\/www.auto1.com\/en\/home\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Europe\u2019s Largest Wholesale Platform for Used Cars | AUTO1<\/a><\/li>\n<li><a href=\"https:\/\/www.conted.ox.ac.uk\/about\/oxford-experience\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">The Oxford Experience | Oxford University Department for Continuing Education<\/a><\/li>\n<li><a href=\"https:\/\/www.wadham.ox.ac.uk\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Wadham College, University of Oxford<\/a><\/li>\n<li><a href=\"https:\/\/www.osapabroad.com\/academics\/the-oxford-tutorial\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">The Oxford Tutorial | Oxford Study Abroad Programme<\/a><\/li>\n<li><a rel=\"nofollow external noopener noreferrer\" target=\"_blank\" href=\"https:\/\/forms.gle\/i3sqvbpSDh1XCKWq8\"><strong>THE OXFORD EXPERIENCE at WADHAM COLLEGE, OXFORD<\/strong> Contact form<\/a><\/li>\n<li><a href=\"https:\/\/www.lek.com\/join-lek\/the-lek-career\/flexible-work-options\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Flexible Work Options | L.E.K. Consulting<\/a><\/li>\n<li><a href=\"https:\/\/www.amazon.com\/Step-Brothers-Unrated-Will-Ferrell\/dp\/B008Y6UAZC\/?tag=offsitoftimfe-20\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Step Brothers | Prime Video<\/a><\/li>\n<li><a href=\"https:\/\/www.purposegeneration.com\/buzz\/article\/gather-with-purpose-how-to-host-a-jeffersonian-dinner\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Gather with Purpose: How to Host a Jeffersonian Dinner | Purpose Generation<\/a><\/li>\n<li><a rel=\"nofollow external noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.dialog.org\/\">Dialog<\/a><\/li>\n<li><a rel=\"nofollow external noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.amazon.com\/exec\/obidos\/ASIN\/006097625X\/\"><em>Understanding Comics: The Invisible Art<\/em> by Scott McCloud<\/a> (Note: Tim considers the first three chapters a bit slow, so he suggests skipping around.) <\/li>\n<li><a href=\"https:\/\/www.dailyartmagazine.com\/periods-pablo-picasso\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Pablo Picasso in Eight Periods | DailyArt Magazine<\/a><\/li>\n<li><a href=\"https:\/\/www.tate.org.uk\/art\/artists\/colin-smith-2673\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Colin Smith | Tate Britain<\/a><\/li>\n<li><a href=\"https:\/\/www.artsy.net\/article\/artsy-editorial-steve-jobs-learned-bauhaus\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">What Steve Jobs Learned from the Bauhaus | Artsy<\/a><\/li>\n<li><a href=\"https:\/\/www.entrepreneur.com\/leadership\/why-steve-jobss-passion-for-calligraphy-is-an-important\/377943\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Why Steve Jobs\u2019s Passion for Calligraphy Is an Important Example for You | Entrepreneur<\/a><\/li>\n<li><a href=\"https:\/\/www.dancarlin.com\/hardcore-history-series\/\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Dan Carlin\u2019s Hardcore History Podcast<\/a><\/li>\n<li><a href=\"https:\/\/www.amazon.com\/Daily-Stoic-Meditations-Wisdom-Perseverance\/dp\/0735211736\/?tag=offsitoftimfe-20\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">The Daily Stoic: 366 Meditations on Wisdom, Perseverance, and the Art of Living by Ryan Holiday and Stephen Hanselman | Amazon<\/a><\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">SHOW NOTES<\/h3>\n<p><em>Editor\u2019s Note: Timestamps will be added shortly.<\/em><\/p>\n<ul>\n<li>What3Words.<\/li>\n<li>Upbeat fish pond reflections.<\/li>\n<li>Journaling toward optimistic investment.<\/li>\n<li>Betfair vs. bookmakers.<\/li>\n<li>How history ties in with investment strategy.<\/li>\n<li>Assigning probabilities.<\/li>\n<li>The cows, the stars, and the question marks.<\/li>\n<li>80\/20 happiness.<\/li>\n<li>A qu\u00e9 ser\u00e1, ser\u00e1 quandary.<\/li>\n<li>Toxic beliefs and terrible templates.<\/li>\n<li>A meeting with Bill Bain.<\/li>\n<li>Charm school.<\/li>\n<li>Why Bain &amp; Company was a better fit than BCG had been.<\/li>\n<li>The formula.<\/li>\n<li>Identifying one\u2019s own toxic beliefs.<\/li>\n<li>Opposites to toxic beliefs.<\/li>\n<li>Churchill\u2019s helpful delusion.<\/li>\n<li>The formation of grand beliefs.<\/li>\n<li>How grand beliefs can become toxic.<\/li>\n<li>Pattern interruption.<\/li>\n<li>Oxford\u2019s 99\/1.<\/li>\n<li>A bespoke request for hands-on art.<\/li>\n<li>Useful beauty.<\/li>\n<li>Parting thoughts.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">MORE RICHARD KOCH QUOTES FROM THE INTERVIEW<\/h3>\n<p><strong>\u201cThe 80\/20 principle runs \u2026 through the whole of my thinking. In terms of my own success or money, but also things like happiness, I\u2019m trying to think, \u2018What are the few things that I need to do in order to attain what I want?&#8217;\u201d<\/strong><br \/>\u2014\u00a0Richard Koch<\/p>\n<p><strong>\u201cI go around asking people, \u2018Who are your best five friends in the world?\u2019 And people come up with a list. And then I say, \u2018Who are the five people that you spend most time with?\u2019 And very often, the lists are completely different. And that tells you that that person, they might be happy, but they\u2019re certainly going against the grain.\u201d<\/strong><br \/>\u2014\u00a0Richard Koch<\/p>\n<p><strong>\u201cM. Scott Peck wrote a book which starts, \u2018Life is difficult.\u2019 This is one of the great things about life. If you understand this, you can transcend it, because you anticipate that things are going to be difficult and you can take pride in overcoming difficulties. But if you expect there are going to be no difficulties, obviously you are going to be disillusioned.\u201d<\/strong><br \/>\u2014\u00a0Richard Koch<\/p>\n<p><strong>\u201cDelusions can be very helpful sometimes.\u201d<\/strong><br \/>\u2014\u00a0Richard Koch<\/p>\n<p><strong>\u201cHappiness is probably the least selfish thing that you can pursue, because if you\u2019re happy, you\u2019re going to make a lot of other people happy, as well. If you\u2019re miserable, you\u2019re going to make other people miserable.\u201d<\/strong><br \/>\u2014\u00a0Richard Koch<\/p>\n<h3 class=\"wp-block-heading\">PEOPLE MENTIONED<\/h3>\n<p><h3 class=\"jp-relatedposts-headline\"><em>Related and Recommended<\/em><\/h3>\n<\/p>\n<p><em><a href=\"https:\/\/tim.blog\/podcast\"><strong>The Tim Ferriss Show<\/strong><\/a> <\/em><span>is one <\/span>of the most popular podcasts in the world with more than 900 million downloads. It has been selected for &#8220;Best of Apple Podcasts&#8221; three times, it is often the #1 interview podcast across all of Apple Podcasts, and it&#8217;s been ranked #1 out of 400,000+ podcasts on many occasions. To listen to any of the past episodes for free, check out <strong><a href=\"https:\/\/tim.blog\/podcast\">this page<\/a><\/strong>.<\/p>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/hop.clickbank.net\/?affiliate=infohatch&amp;vendor=J1R2C\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-10614 aligncenter\" src=\"http:\/\/parmaks.com\/Resources\/wp-content\/uploads\/2025\/05\/profit-gen400px.png\" alt=\"Profit Gen\" width=\"400\" height=\"217\" srcset=\"http:\/\/parmaks.com\/Resources\/wp-content\/uploads\/2025\/05\/profit-gen400px.png 400w, http:\/\/parmaks.com\/Resources\/wp-content\/uploads\/2025\/05\/profit-gen400px-300x163.png 300w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/><\/a><br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Illustration via 99designs \u201cM. Scott Peck wrote a book which starts, \u2018Life is difficult.\u2019 This is one of the great things about life. If you [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3198,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-3197","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-growth"],"_links":{"self":[{"href":"http:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/posts\/3197","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/comments?post=3197"}],"version-history":[{"count":0,"href":"http:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/posts\/3197\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/media\/3198"}],"wp:attachment":[{"href":"http:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/media?parent=3197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/categories?post=3197"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/tags?post=3197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}