Stoicism expert and prominent author, Donald Robertson, joins Bulls, Bears, and Bourbon to discuss Stoic techniques for life (and investing).

Donald is a writer, cognitive-behavioural psychotherapist, and trainer.

Donald specializes in teaching evidence-based psychological skills and is known as an expert on the relationship between modern psychotherapy (CBT) and classical Greek and Roman philosophy. He was born in Irvine, Scotland, and grew up in Ayr. He worked as a psychotherapist for about twenty years in London, England, where he ran a training school for therapists, before emigrating to Canada in 2013 to focus on his writing and training courses. He now divides his time between Greece and Canada

Donald is the author of several books and many articles on philosophy, psychotherapy, and psychological skills training, including How to Think Like a Roman Emperor: The Stoic Philosophy of Marcus Aurelius. See his publications page for more information

Donald is one of the founding members of Modern Stoicism Ltd., a multi-disciplinary team of psychologists, therapists, academic philosophers, and classicists responsible for running Stoic Week.

Stoic Week started at the University of Exeter and grew into an annual international event in which thousands of people take part each year. It involves an online course teaching students how to apply ideas from ancient Stoic philosophy, combined with some techniques from modern psychology.

[01:20] – Introducing Donald Robertson

[5:33] – Stoic Techniques for investing and life

[8:10] – The View from Above

“People think that wealth is the most important thing in life, but he (Socrates) said I think actually they’ve got it back to front, and that what is most important to the good life is…wisdom and self-discipline.”

“Wealth and all the other good things in life are a result of this wisdom.”

“The Stoics without a shadow of a doubt in my mind were way ahead of their time in terms of their grasp of cognitive psychology…they really have a profound understanding.”

[21:40] – Suspending Judgment and Catastrophizing

“If you get too wrapped up in tunnel vision it makes you rubbish at problem-solving because you lose perspective and become rigid in your thinking, and it tends to amplify your feelings and make them overwhelming.”

“We live in a world where we’re surrounded by other people who consider in their vested interest to distort reality on our behalf. IN the ancient world those guys were called sophists…they traded in fear and anger because they wanted to provoke audiences to get their attention.”

[36:10] – Wealth as a Preferred Indifferent

“External wealth (property, money) is a preferred indifferent – what really matters is what we do with it…it’s a means to an end.”

[49:00] – The Contemplation of the Sage

“There’s only one person giving and receiving the advice in this relationship and that’s you. When you imagine what a found investor would’ve done you’re giving yourself advice…you’re having an internal dialogue with yourself about it.”

“You’re accessing your own implicit wisdom actually…you’re smarter than you realize.”

[55:00] – Premeditation of Adversity

“The Stoics believed we need to be realistic.”

[1:19:30] – Marcus Aurelius

[1:39:50] – The Meaning of Wealth

“Wealth consists of having more than you need.”

“As I get older, I spend less money – the more I earn the less I find myself spending.”

[1:42:35] – Advice to Himself

“I’d tell myself to reflect more on my own experience. I’d tell myself to review my life objectively from a detached perspective like I was observing the life of a stranger.”

Links:

Donald Robertson

Bulls, Bears, and Bourbon

Vermillion Private Wealth

How to Think Like a Roman Emperor

Verissumus

Books on Stoicism:

Meditations - Marcus Aurelius

Discourses & Selected Writings - Epictetus

Letters from a Stoic - Seneca

A Guide to the Good Life - William B. Irvine

**The information in this podcast is educational and general in nature and does not take into consideration the listener’s personal circumstances. Therefore, it is not intended to be a substitute for specific, individualized financial, legal, or tax advice. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional before making a final decision. Thanks for listening.