💰Click here to download your FREE guide to Stop Worrying About Your Finances In 4 Simple Steps: www.theinvestorspodcast.com/s...
📱Take ownership of your Bitcoin with Foundation. Attain self-custody with Passport hardware wallet: foundationdevices.com/?mtm_ca...
Clay Finck reviews the 28 psychology of human misjudgments in Peter Bevelin’s book, Seeking Wisdom. One of the best ways to behave more rationally is to understand our own shortcomings biologically, which we are oftentimes unaware of. This episode dives deep into these shortcomings and how we can sidestep them to invest more wisely.
▶️ RELATED EPISODES:
- An Investor's Guide to Clear Thinking w/ Chris Mayer: • An Investor's Guide to...
- Investing in Quality Businesses & the Art of Lifelong Learning w/ Gautam Baid: • Investing in Quality B...
IN THIS EPISODE, YOU’LL LEARN:
0:00:00 - Intro
0:03:03 - Many of the human misjudgments that Charlie Munger has spoken about extensively.
What bias by mere association is.
How rewards and punishments influence our behavior.
0:08:41 - How self-interest and incentives drive decision-making.
0:21:26 - The bias of self-deception and denial.
The bias of being consistent with our prior actions.
0:26:46 - The status quo bias.
0:44:38 - How investors can exploit the tendency of humans to be incredibly impatient.
The anchoring bias.
0:36:58 - What reciprocity is, and its effects on human behavior.
0:41:59 - The bias of social proof.
0:44:10 - How authority bias affects our investment decisions.
Why the simple solution is oftentimes the best solution.
How to combat our desire to minimize uncertainty.
🎧 Listen to our episodes here: link.chtbl.com/TIP-WSB
🖊️ Access the transcript and learn more about the guest here: www.theinvestorspodcast.com/e...
📖 BOOK MENTIONED:
- Seeking Wisdom by Peter Bevelin: amzn.to/3QFPeQC
Disclosure: Some of the links above are affiliate links that we may earn commission from. This helps keep our show going! 😀
💡 OTHER RESOURCES
- Seeking Alpha is a crowd-sourced content service for financial markets. Take control of your financial future - Use our link here for a 14-day free trial: www.sahg6dtr.com/59QC8Z/R74QP/
- TubeBuddy help optimize our KZfaq videos - www.tubebuddy.com/pricing?a=T...
⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤
ABOUT OUR SHOW 🎙
On We Study Billionaires, we interview and study famous financial billionaires including Warren Buffett, Bill Gates, and Ray Dalio. We teach you what we learn and how you can apply their investment strategies in the stock market.
🌍 Website: www.theinvestorspodcast.com/w...
⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤
📚OUR FREE INVESTING COURSES/RESOURCES www.theinvestorspodcast.com/t...
📊TRY OUR STOCK INVESTING TOOL: TIP FINANCE www.theinvestorspodcast.com/t...
⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤
❗ DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting.