Mental Models Podcast It's not a brain in a jar, that's the gist!

Mental Models: Global Protein Chain Breaking/Broken: #52

African Swine Fever in China has depopulated the hog heard in China. China is responsible for 50% of global production and consumption of pork. The coronavirus was completely unexpected and has further impacted the pork market with meat packing plants closing due to workers and their family members, sadly becoming ill or dying from Covid-19. Closure of meat packing plants to protect the meat packing workers and their families is necessary and the right this to do! The amount of pork in cold storage has decreased as of the recording of this podcast from 4 weeks to 3 weeks, and may have dropped further. The breaking of the Global protein chain, is an event that was never expected to be seen in the modern world and is a solid reason for continuing to reinvestigate the markets. For more on best investing strategies, avoiding bias and learning about your brain BUY 5 star reviewed “Understanding Behavioral Bia$” on Amazon - link here: http://amzn.to/2XHtsOE

Mental Models: Motivations & Basic Human Values-Part 2: #51

Our basic human values drive us and drives up our oxytocin levels in our brain. Provided are applied examples of values in the investing world. We consider the basic human values by Shalom Schwartz tying together and the interesting relationships among the different values.We talk conservatism, openness to change, benevolence, universalism, achievement, and power. We discuss how these values are embedded and carried out within the networks of our brain. The pie chart of basic human values theory by Shalom Schwartz, will help you navigate Episode #51 and Episode #47: "Mental Models: Motivations That Drive You Part 1“. Listen here on the Mental Models Podcast website: https://www.mentalmodelspodcast.com/post/motivations-that-drive-you-basic-human-values-47. Interested in more on this topic and learning about your brain Buy“Understanding Behavioral Bia$” to learn more about overcoming biases that are keeping you from investment success! http://amzn.to/2XHtsOE LINKS: Mental Models: Motivations That Drive You: Basic Human Values-Part 1 #47 listen on Apple Podcast https://podcasts.apple.com/us/podcast/mental-models-motivations-that-drive-you-our-basic/id1458795155?i=1000468730689 Mental Models Podcast Episode #2 "Value Drives our Lives! Your Brain Response to Value and Investing" listen on Apple Podcast https://podcasts.apple.com/us/podcast/value-drives-our-lives-your-brains-response-to-value/id1458795155?i=1000434905197 or SoundCloud https://soundcloud.com/user-682136294/2-value-drives-our-lives-your-brains-response-to-value-how-it-affects-our-investing-lives Mental Models: "Inside Bill's Brain: Decoding Bill Gates": #28 listen on Apple Podcast https://podcasts.apple.com/us/podcast/mental-models-inside-bills-brain-decoding-bill-gates-28/id1458795155?i=1000453548100 Teed, A. R., Rakic, J., Mark, D., & Krawczyk, D. C. (2019). Relative activation patterns associated with self-transcendent and self-enhancement core values: An fMRI study of basic human values theory concepts in males. Social Neuroscience, 25,1-14. https://www.tandfonline.com/doi/abs/10.1080/17470919.2019.1598893 Wealth of Nations by Adam Smith. https://en.wikipedia.org/wiki/The_Wealth_of_Nations Jane Goodall: https://en.wikipedia.org/wiki/Jane_Goodall #mentalModels #MentalModelsPodcast #UnderstandingBehavioralBias #Bias #DecisionMaking

Mental Models: Are Analogies between ‘?’ and Covid-19 Dangerous?: #50

Analogies help our brains understand a current event often using a past event, but with our brain filling in unknown gaps and creating possible dangerous inferences. Comparisons between the flue, N1H1, SARS, 1918 flu or even 9/11 are likely dangerous for understanding how society and investments will be impacted. Current events are different than past events. Analogies start forming from a ‘target analogy’, such as a believed equivalent past event, then our brains begin a mapping process from ‘source analogy’. Interested in learning more about investing, analogies, YOUR #Brain, and how we think to improve your financial gain in the market, read the five star reviewed book “Understanding Behavioral Bia$” amzn.to/2XHtsOE #learn Researchers Dr. Krawczyk has worked with in the filed analogy include Dr. Keith Holyoak http://reasoninglab.psych.ucla.edu/KeithHolyoak.html and Dr. John Hummel https://psychology.illinois.edu/directory/profile/jehummel

Mental Models: Anchoring Bias & Base Rate Neglect in Relation to Covid-19: #49

How do we think psychologically about numbers? Especially in relation to the Covid-19 2020 pandemic and the impact on the stock market. Take into consideration the effect of the Anchoring bias and Base Rate Neglect in your mental model and decision making. A recession will come following the 2020 pandemic along with changes in behavior which will unmask unexpected changes. Be prepared, learn more on the topic of Cognitive Biases and how we think to improve your financial gain in the market, read “Understanding Behavioral Bia$” http://amzn.to/2XHtsOE #learn loo

Mental Models: Recalibrate Biases to Cope with Pandemic: #48

Biases investors need to be aware of include ILLUSIONS OF INVULNERABILITY and ILLUSIONS OF CONTROL. Due to years of investing success investors feel invulnerable and are making decisions from their mental model which needs recalibration, along with the bias Illusion of Control. For more on this topic explore FIVE STAR reviewed book “Understanding Behavioral Bia$” http://amzn.to/2XHtsOE There will continue to be an evolution to biases that impact us as the pandemic unfolds. Consider the REFLECTIVE EFFECT - the actions and beliefs investors have and are self reinforcing, we need to recalibrate things we believe to be true based on life PRE-PANDEMIC. See George Soros book “Alchemy of Finance” for more on this topic. https://www.amazon.com/Alchemy-Finance-Reading-Market-1994-05-06/dp/B01A65GK8Y/ref=sr_1_2?dchild=1&keywords=alchemy+of+finance&qid=1585680691&s=books&sr=1-2. Investors need to make rational decisions and beware that they are emotional charged. It is necessary to rationally assess the market despite the environmental influences. VIDEO of Dr. Daniel Krawczyk on Fox4News discussing new book “Understanding Behavioral Bia$" https://www.fox4news.com/video/655696