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Mental Models: Recalibrate Biases to Cope with Pandemic: #48
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Manage episode 257520893 series 2503320
Content provided by Mental Models Podcast | Behavioral Finance, Dr. Daniel Krawczyk, George Baxter, JD, and CFA. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Mental Models Podcast | Behavioral Finance, Dr. Daniel Krawczyk, George Baxter, JD, and CFA or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
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
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72 episodes
Mental Models: Recalibrate Biases to Cope with Pandemic: #48
Mental Models Podcast It's not a brain in a jar, that's the gist!
MP3•Episode home
Manage episode 257520893 series 2503320
Content provided by Mental Models Podcast | Behavioral Finance, Dr. Daniel Krawczyk, George Baxter, JD, and CFA. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Mental Models Podcast | Behavioral Finance, Dr. Daniel Krawczyk, George Baxter, JD, and CFA or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
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
…
continue reading
72 episodes
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