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15 results for “investment psychology”
to the work of folks like Danny Kahneman, who's a founder of the field, author of the best selling book Thinking Fast and Thinking Slow, who very sadly passed in early twenty twenty four. So Danny founded this field of behavioral economics, and essen
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from transcript5:21 – 6:30
that you could turn that on its head and say, okay. Understanding how we behave, and we're not gonna be fully rational, how can we use the way we behave to be better longer term investors? I make this argument in the book that people should not aim t
45:06 / 46:06
from transcript45:06 – 46:06
...creating investment process because we as human beings are hardwired to make bad decisions. This goes back to Danny Kahneman's stuff and Annie Duke's stuff where if you and I were sitting in the bush and you hear rustling, you have a choice. Do you g
34:27 / 35:45
from transcript34:27 – 35:45
Maybe it's permanent, maybe it's temporary, but perhaps there's an entry there to create a new fact pattern through the research process. Informational sources of inefficiency will be essentially asymmetric, either availability or understanding of in
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from transcript17:59 – 19:02
...of psychology and history. So what is the history of how people have behaved around greed and fear and risk, and what can we learn from that history that helps us make more sense of our current world and can think about our investments in a more prod
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from transcript12:05 – 13:14
that made me, of necessity, very, very interested in what you might call counterintuitive aspects of human behavior and decision making. And it became pretty rapidly evident that if you actually study experimental empirical data about how people thin
2:14 / 3:17
from transcript2:14 – 3:17
Is risk something like, what happens in a great depression, which is very hard to measure? The other argument is markets are not perfect. People make errors, and it's behavioral finance. So if a cheap stock beats an expensive stock because it's inher
52:26 / 53:34
from transcript52:26 – 53:34
...an investment committee on board with allowing you to do something that was very different from what other people were doing. How does one modulate their behavioral biases in that context? Because we always seem to learn from our mistakes more than o
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from transcript33:51 – 34:53
...this investment has turned out sour. It's been really bad. And then each of us independently, and this is important, each of us independently writes down why this turned out badly. So in other words, each of us is going to write, you know, a 200 word
45:43 / 46:45
from transcript45:43 – 46:45
And so I find myself really surprised that I've ended up with a career that I've had, but I'd say maybe one of the influences was my dad was an incredibly logical person. He studied math as an undergrad. He taught me most of the math that I know when
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from transcript9:02 – 10:05
...successful investments by dint of luck, but once those successes have occurred, people tend to preferentially attach to you as a venture capitalist. So you think of certain organizations, certain great venture capital firms that if you are a hot up a
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from transcript6:33 – 9:32
When you move from equities, which is a lot of what we're talking about, to other asset classes, you could make the case that the behavioral aspects of investing are the same. You don't hear as much about this type of activity in the kind of scale in
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from transcript41:54 – 43:00
...The Psychology of Money, has sold 10,000,000 copies since releasing five years ago and is already one of the best selling investment books of all time. The second, same as ever, explores human behaviors that never change and is rapidly approaching a
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from transcript0:00 – 1:05
And so really using this probabilistic thinking around understanding that every decision is something we should be humble about because the future is unknowable by anybody, but then trying to use analysis and data as much as possible to make decision
39:47 / 40:56
from transcript39:47 – 40:56
Life isn't so so simple. But those are the two biggies. But once you get into behavioral finance, now you can fight about why. What what behavioral bias? Notice the you could sum up the two reasons I gave you for momentum as underreaction and overrea
53:11 / 54:24
from transcript53:11 – 54:24
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