This podcast episode highlights Xiao's journey in finance, emphasizing the critical exploration of varied fields and the significance of mentorship in developing a financial strategy. Through learning from economic leaders and experiencing collaboration with trading experts, Xiao illustrates the influence of disciplined methodologies, drawn from fields like blackjack, on market timing and return predictability. The discussions delve into research processes, practical implementations, and the crucial interplay between academic insights and market realities, all while advocating for iterative learning and the necessity of understanding market microstructure for successful investments.