At the Money: Behavior Beats Intelligence (Podcast)

Masters in Business

Bloomberg

Business, Entrepreneurship, Investing

4.4 • 2.2K Ratings

🗓️ 24 July 2024

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

We focus most of our investing efforts on obtaining information. But is that where we generate the highest ROI? As it turns out, managing your behavior has a much greater impact on your portfoio than any single data point.

In this episode, Morgan Housel sits down with Barry Ritholtz to explain why behavior often beats knowledge. Housel is a partner at the Collaborative Fund and author of “The Psychology of Money: Timeless lessons on wealth, greed, and happiness.”

Each week, “At the Money” discusses an important topic in money management. From portfolio construction to taxes and cutting down on fees, join Barry Ritholtz to learn the best ways to put your money to work.

See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	The Bloomberg Sustainable Business Summit returns to Singapore on July 31st for solutions-driven discussions on unlocking growth in times of increased ESG scrutiny.
0:09.0	Join global business leaders to drive innovation and scale best practices in sustainable
0:13.5	business summit advisors Bangkok bank crazers
0:16.6	property redseat global rge echneider electric star energy geothermal
0:21.8	presenting sponsors standard charter the Singapore Star Energy Geothermal Presenting Sponsors Standard Charter
0:24.0	The Singapore Economic Development Board
0:26.0	Learn more at Bloomberg Live.com
0:28.0	slash Sustainable Biz Singapore.
0:30.0	Just a reason why
0:32.0	I can feel like Don't Man I'm there. Finance types tend to focus on attributes like intelligence, math skills, and computer programming.
0:48.0	But it turns out financial success is less about knowledge and more dependent on how you behave and make decisions than
0:56.9	raw intelligence. How you behave with money matters more than what you know
1:02.1	about money. I'm Barry
1:04.0	results and on today's edition of at the money we're going to discuss how to make
1:09.2	sure your behavior is not getting in the way of your portfolio.
1:14.0	To help us unpack all of this and what it means for your investments, let's bring in Morgan
1:18.5	Housle.
1:19.5	He is the author of The Psychology of Money.
1:22.3	The book has received widespread acclaim for its
1:25.0	insightful approach to personal finance and has sold six million copies
1:30.5	worldwide. So Morgan, let's start with your main thesis. Financial decisions
1:36.0	in the real world are influenced by our personal history, worldviews, ego pride, too many other factors to list.
	...

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