5 Ways Your Brain is Sabotaging Your Money
Motley Fool Answers
The Motley Fool
4.4 • 823 Ratings
🗓️ 25 August 2015
⏱️ 27 minutes
🧾️ Download transcript
Summary
Biases prevent all of us—yes, even you—from managing money intelligently. Morgan Housel, behavioral finance expert at The Motley Fool, joins us to talk five common biases and how you can reduce the damage they inflict on your finances. Also, Robert answers your questions about how to break up with your underperforming mutual fund.
Transcript
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| 0:00.0 | This is Motley Fool Answers. I'm Alison Southwick and I am joined today by Robert Brokamp, |
| 0:08.1 | personal finance expert here at The Motley Fool. Hi, Bro. How are you doing? |
| 0:11.2 | Great, Alison. How are you? |
| 0:12.4 | I'm good. We have a great show today because today we are going to talk about why you |
| 0:17.0 | should care about a company's corporate culture when you invest. Morgan Housel is |
| 0:21.2 | going to join us to talk about five biases that are making you bad with money. And Bro is |
| 0:27.5 | also going to answer your questions about how to break up with your mutual fund. All that |
| 0:31.5 | and more on this week's episode of Motley Fool Answers. So the New York Times took Amazon to the woodshed over their corporate culture recently. |
| 0:43.8 | In an article that we've been used to seeing articles that tell you how awful it is to work |
| 0:49.9 | in an Amazon warehouse, fulfilling orders and getting books and putting them in boxes. But this |
| 0:54.9 | recent article talked about how being in corporate in Amazon is actually soul-crushing and |
| 1:00.5 | brutal. All that was in the New York Times. For example, working all hours, crying at your desk. |
| 1:06.7 | Don't even think about having kids. It was competitive to a fault. Lord of the Flies was also |
| 1:12.6 | a throw- No food. No free food. They even talked about that. It was just like, come on. I thought |
| 1:18.2 | you were a tech company. So I assume everyone at The Fool read this article because not only |
| 1:24.4 | do we care about Amazon as investors, we also care about corporate culture. |
| 1:28.4 | What did you think about the article? |
| 1:29.3 | Okay. So my first reaction, whenever I see an article like this, it's based a lot on anecdotes, |
| 1:34.2 | right? |
| 1:35.2 | They interviewed over 100 people. Former Amazon. |
| 1:37.3 | Right. In Amazon, I don't know how many employees, but it's in the tens of thousands. |
| 1:41.8 | The point is, I think for any company, you could find 100 people |
... |
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