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BigDeal by Codie SanchezMaster MONEY MAKING In 60 Minutes: Everything They Never Taught You | Jenny Just
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WHAT IT’S REALLY ABOUT
Billionaire Jenny Just on Risk, Failure, and Poker Skills
- Jenny Just says her risk tolerance was learned through years of repeated small losses on a trading floor, where traders lose 45% of the time, not something she was born with.
- She credits Peak6's 28 years without a losing year to assuming a wide range of bad outcomes, thinking in roughly three-year cycles, and constantly reinventing the business.
- Just started Poker Power after teaching her daughter and a group of girls the game, and says poker trains decision-making with imperfect information and reading other people, which transfers to negotiations and the office.
- She and Codie Sanchez discuss money myths, hiring and experiments at Peak6, keeping a list of company failures, and urge listeners to get hands-on with AI.
- Her closing advice for women who want to take more risk is simply to learn poker, which she says would have saved her about 10 years of career mistakes.
IDEAS WORTH REMEMBERING
5 ideasRisk tolerance can be learned through repetition
Just says she was not seen as a risk-taker when young and became one by taking small risks repeatedly and scaling up, from raising a hand in class to larger trades.
Think in ranges of outcomes, not binary ones
Just says people tend to imagine either winning everything or losing everything, whereas she plans for the worst case and for outcomes slightly better than the worst, using past market events as examples.
Don't chase the highest high
Just says avoiding the lowest low matters more than having the biggest year, and she tells traders to treat a great year as money over a three-year timeframe.
Deadlines force decisions
Just circled a date in 1999 after which she would walk away from the stalled deal with Jamie Dimon's bank, and she and Codie both say sticking to such a self-imposed deadline builds trust in your own word.
Poker teaches decision-making that transfers to life
Just says poker mirrors her options-trading training: deciding with imperfect information, considering what others hold and think, and seeing where power sits at the table, which maps onto negotiations and meetings.
WORDS WORTH SAVING
5 quotesYou know, people think of me as a risk-taker because of where I came from, but I became one.
— Jenny Just
You have to be thinking about the other cards at the table. Then you have to think about what they're thinking about your cards.
— Jenny Just
it's really about recognizing you don't have to have the highest high, because you don't want the lowest low, and that's really hard for traders.
— Jenny Just
risk doesn't have to mean jumping out of a plane. It doesn't have to be betting all your money, right? It just has to mean being, taking more risks than you are today.
— Jenny Just
if I could have learned poker when I was younger, I think I would've saved 10 years out of mistakes in my career.
— Jenny Just
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SPEAKERS
Jenny Just
guestCo-founder of the investment firm Peak6 and founder of Poker Power, focused on trading, risk management, and decision-making education.
Codie Sanchez
hostEntrepreneur and host of BigDeal by Codie Sanchez, interviewing business leaders and promoting her events and sponsors.
High quality AI-generated summary created from speaker-labeled transcript.
