We Study Billionaires - The Investor’s Podcast Network
Business:Investing
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 understanding 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.
IN THIS EPISODE YOU’LL LEARN:
0:00 - Intro
4:11 - Many of the human misjudgments that Charlie Munger has spoken about extensively.
4:34 - What bias by mere association is.
8:41 - How rewards and punishments influence our behavior.
14:51- How self-interest and incentives drive decision-making.
24:40 - The bias of self-deception and denial.
26:00 - The bias of being consistent with our prior actions.
30:11 - The status quo bias.
31:42 - How investors can exploit the tendency of humans to be incredibly impatient.
36:58 - The anchoring bias.
43:51 - What reciprocity is, and it’s effects on human behavior.
48:29 - The bias of social proof.
51:01 - How authority bias effects our investment decisions.
51:53 - How to combat our desire minimize uncertainty.
55:07 - Why the simple solution is oftentimes the best solution.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
NEW TO THE SHOW?
P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!
SPONSORS
HELP US OUT!
Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
BTC151: This is NOT Capitalism w/ Allen Farrington (Bitcoin Podcast)
TIP581: Richer, Wiser, Happier Q3, 2023 w/ Stig Brodersen & William Green
TIP580: Clear Thinking w/ Shane Parrish
BTC150: Solving the Oracle Problem w/ Daniel Hinton & Steve Jeffress (Bitcoin Podcast)
TIP579: Big Mistakes by Michael Batnick
BTC149: Parallels to the Roman Empire w/ Dr. Peter St. Onge (Bitcoin Podcast)
TIP578: Fundamentals of Stock Investing w/ Daniel Pronk & Jake Ruth
BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast)
RWH033: Lessons From Buffett & Berkshire w/ Chris Bloomstran
RWH032: The Vigilant Investor w/ Chris Bloomstran
TIP577: Valuation Masterclass w/ Aswath Damodaran
BTC147: Fiat Ruins Everything w/ Bitcoin Developer Jimmy Song (Bitcoin Podcast)
TIP576: Mastermind Q3 2023 w/ Tobias Carlisle and Hari Ramachandra
TIP575: The Future of AI w/ Bob Muglia
BTC146: Broken Money 2/2 w/ Lyn Alden (Bitcoin Podcast)
TIP574: Broken Money 1/2 w/ Lyn Alden
TIP573: Berkshire's Beginnings w/ Jacob McDonough
BTC145: Adam Back on Drivechains, Mining Hardware, & L1 scaling w/ James Macedonio (Bitcoin Podcast)
TIP572: Finding Value in the Oil Market w/ Josh Young
BTC144: Bitcoin and Macro Mastermind 3Q 2023 w/ Joe Carlasare, Jeff Ross, and Steven McClurg (Bitcoin Podcast)
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
Forward Guidance
Macro Voices
Money Girl
So Money with Farnoosh Torabi
The YNAB Podcast