At The Money: Humans Are Not Built For Investing

Masters in Business

Bloomberg

Business, Entrepreneurship, Investing

4.4 • 2.2K Ratings

🗓️ 7 August 2024

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

Of all the many things Humans do brilliantly well, investing isn’t one of them. As a group, we are easily excited, focused on the wrong things, and filled with unjustified overconfidence. In this episode, Dr. Daniel Crosby sits down with Barry Ritholtz to explain why when it comes to investing, “we are just not built for it.” Crosby is Chief Behavioral Officer at Orion Advisor Solutions, where he helps financial advisors apply behavioral science in their practice. He is the author of "The Laws of Wealth: Psychology and the Secret to Investing Success."

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.

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Transcript

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0:00.0	It's the question every investor is asking themselves.
0:04.0	How do you build a portfolio that perseveres in today's tough and predictably unpredictable market?
0:10.0	At New York Life Investments, we see a clear path forward and a window for income potential that investors haven't seen in a decade.
0:18.0	Make the first move.
0:20.0	Complement core portfolios with differentiated investment strategies on New York Life Investments.com,
0:26.0	where we're more than investing. We're invested.
0:29.0	I'm Jason Kelly, Original's chief correspondent.
0:34.2	Join me and sports leaders like Boston Celtics co-owner Steve Paliuka,
0:38.5	National Women Soccer Commissioner Jessica Berman,
0:41.3	Orioles owner David Rubinstein, and even my co-host on the deal,
0:45.1	Alex Rodriguez, plus many more at Bloomberg Power Players New York on September 5th.
0:50.2	Conversations that will empower you to stay ahead of the game.
0:54.6	Register now at Bloomberg Live.com slash Power Player. And a little bit of love that you've been touch.
1:04.0	Just a little love that you've been touch.
1:08.0	Humans are a species of incredible innovation in art, science, literature, yet of all the things
1:16.7	we're brilliant at, investing isn't one of them.
1:21.2	Why?
1:22.2	Well, we're easily excited. We get focused on the wrong things, obsessed with what just
1:27.4	happened rather than what might happen next. We're bad at understanding maths and we despise delaying gratification.
1:36.3	Top all of this off with unjustified over confidence and you have a recipe for investing under performance.
1:45.0	As it turns out when it comes to investing, we're just not built for it.
1:50.0	I'm Barry Ritholtz and on today's edition of At the Money we're going to discuss
	...

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