presentation

• Joined the programme early last year, feel sorry for your guys, presentation skills -> given you have a lot of training, probably tierd and starving, let me just throw some random points and see if it works
• Learn from the failure, avoid the psychological traps: use that in multiple interviews, how can i lose money after reading all those books->human is an interesting creature, you know it's wrong but still do it. eg. study, say hi to your mom. how to overcome that -> kahnman's theory, sports metopher, my experience, have some know-hows -> friends sit there and think what is suitable for them -> involve and for those of you who have an aim and want to make a break, practice, get exposure directly,build your intuition; when you look forward, you feel frustrated because you make mistakes and so many things you don't know. But when you look back, you'll be surprised how much you improved. Embrace the failure, build your sophisticated intuition. -> into next topic of being fast, being in FRM for a bit
• Keith's email: not what you see but the story behind it is more important; unfortunately we can only see the results, which makes it more important to care about the reasoning to avoid being biased ->. a lot of students only care about the result, action points but not the reasoning, example is the JPY, Nikkei trade
• Keith's email: skills are good in good times, painful in bad times - no constant thing -> ignorance, bad thing (compare HF managers and oxford students), good thing(stanley druckenmiller, Jing Huang)

risk management

First one:

• risk appreciation (junior speaks out, remember to be afraid)
• hindsight bias, cannot think that way

Second one:

• Crew resource management: junior allowed to speak out, to overcome the decision error
• Importance of simulation
• Automation leads to better human performance, but brings in some new issues. People forget how they do things before the automation. However, it still wins in the long run. 
• When facing a theory, ask deeply what that is from. The fact that it makes sense or is beautiful means nothing about their accuracy. The Henrich triangle thing has no evidence to confirm. Also the causality is important.