Peter Atwater: The Confidence Map: Charting a Path from Chaos to Clarity

Talking Billions with Bogumil Baranowski

A life-changing book and conversation

My guest today is Peter Atwater; he is a Wall Street veteran and the author of a wonderful book, The Confidence Map. We are talking about everything from investing and navigating the financial crisis to what it takes to be a successful money manager. We are learning from airplane pilots, pandemic-era doctors, and more. Peter proposes an eye-opening framework, a map that has already helped me in my professional life in many ways, and I think it could guide you in your endeavors as well. Please help me welcome, Peter Atwater.

When Peter Atwater turned 45, his son said, “Dad you are halfway to ninety.” Three months later he left a very successful career in financial services to do something different. After helping several hedge funds successfully navigate the 2008 banking crisis, that “something different” turned out to be studying confidence.

Tossing aside his academic training in economics and his experience on Wall Street, Atwater turned to social psychology and discovered that not only do we act as we feel, but we do so consistently, too. To paraphrase Mark Twain, history rhymes for a reason.

Today, Atwater is a recognized expert on the impact of confidence on individual and group decision-making. He teaches classes on the topic at his alma mater, William & Mary. And when he isn’t in the classroom, you can find him leading corporate retreats, speaking on stage, and offering his insights on current events on CNBC and Bloomberg Television and in the Financial Times, the Wall Street Journal and Time Magazine.

In his book, The Confidence Map, Atwater shares the tools and framework he uses in his work with business leaders, investors, coaches, and public policymakers.

Website:peteratwater.com

Twitter: @peter_atwater

Book: https://www.amazon.com/Confidence-Map-Charting-Chaos-Clarity/dp/0593539559

Takeaways:

• Confidence is a key factor that underpins the important choices we make.

• The confidence map consists of four quadrants: comfort zone, stress center, passenger seat, and launch pad.

• Understanding our emotions and stories can help determine our position on the confidence map.

• Trust is essential in both personal and professional relationships, and it is earned through consistent actions and experiences.

• Having clear principles and a philosophy in investing provides a solid foundation, while allowing for flexibility in individual actions.

• In times of crisis, shared processes and procedures are crucial for effective decision-making and reducing improvisation.

• Creating slack and choosing what to focus on can help navigate uncertainty and maintain a sense of control.

• Success is not solely about personal achievements, but also about helping others succeed and leaving a positive impact.

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Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed.

Information expressed does not take into account your specific situation or objectives, and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance.