064: Caspar Berry on risk

Caspar Berry is a former professional poker player, having been the poker advisor on the James Bond movie Casino Royale. Caspar is now a speaker on risk, not only understanding this area from the principles of the game of poker, but it’s underpinned with an economics degree from Cambridge University.

In this discussion we talk about the parallels between poker and what we’re experiencing through this viral pandemic – and there definitely are some. We talk about how to get good at poker which unveils an array of applicable lessons in terms of probabilities, luck and taking opportunities when they are presented to you. Caspar has a knack of making some unfamiliar concepts feel really accessible – he’s a bright guy with whom I've loved chatting to over the years. And if a Las Vegas poker player and advisor on a Bond movie weren’t enough Caspar has one of the most fun biographies going – which I will leave him to explain.

Show notes

Poker and a global pandemic – it is good when people appreciate uncertainty in their lives

The importance of cash and savings

Caspar’s three important messages:

The future is uncertain and we are way poorer than we think we are
Everything is going to end eventually
Insulate yourself against the downside and open yourself up to the upside

Risk and decision making; short term versus long term allocation

Working as an actor in Byker Grove

Learning that poker and business are related, defined by decision making and resource allocation

Luck - your short term deviation from your long term expectation as a result of that which you cannot control

Olivia Colman & Sacha Baron Cohen – luck

Don’t play the man, play the cards

Casino Royale

How to play perfect poker

Uncertainty and predicting the future

The Ludic fallacy

 

Links

Caspar is on Linkedin at https://www.linkedin.com/in/casparberry/

You can visit Caspar’s website at http://www.casparberry.com/

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