Data Is Such a Powerful Tool

Erik Pickering was just getting the hang of things in data operations and company security at Bridgewater Associates when the Great Recession hit and the bottom fell out from under the economy. He still uses the lessons he learned at Bridgewater, which had set up a sophisticated Depression alarm that anticipated the turmoil. Pickering and host Christopher Anderson discuss the strategy lessons he saw developed and implemented by Bridgewater’s billionaire founder Ray Dalio. Pickering shares Dalio’s five-step planning process that he says applies to business and life. The lessons are particularly applicable today and boil down to, “Hope for the best. Plan for the worst.” One key to planning right now? Shorten the planning horizon. Rather than a five-year plan, Pickering and Anderson say firms may need to think in terms of months or weeks. Pickering and Anderson discuss the common mistakes lawyers make during times of crisis. Taking on too much at once is one Pickering sees far too often. Closing the episode, Pickering and Anderson talk about investigative and data research as a tool for lawyers, from solos to larger firms. Pickering differentiates the Tracers software and investigation method from simple internet searches that don’t measure up to responsible due diligence. Erik Pickering is president of the data-research company Tracers. Special thanks to our sponsors,  Scorpion, Lawclerk, Alert Communications and LawYaw.

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