Now, we kind of dived into a few sort of sporadic topics right from the beginning

because there are really so many avenues to explore with your work, which I find fascinating.

But maybe it's best that we take a step back and we look at some of the building blocks

of behavioral finance.

And I think you've kind of nailed it down to, or boiled it down to, you know, four groups

of social difficulties surrounding investment making decisions.

So maybe from the starting point, we could kind of define them and talk a little bit about

each of them.

And then after which we'll go on and talk about some of the solutions you've identified as well.

Yeah. So one of the things that I've tried to do in my last two books, one of the frustrations that I had with behavioral finance was there were these larger and larger lists of biases.

You know, I think it was approaching about 200 the last time I read it.

And so, you know, it's not all that helpful to come to a trader, to come to an investor,

and to say, look, look, hey, you know, Mr. Investor, there's 200 ways that you can get this wrong.

So good luck. And so what I did is as I looked at

these long lists of behavioral biases and cognitive traps and things like this, I said, look,

not all of these are all that distinctive. If you drill down a lot of these load onto one of just a

handful of factors. So I began to look at the literature on

investment error with no preconception about how many sort of errors would shake out, but I really

landed on four. So we can, you know, I'll sort of list them here and then we can talk about them

in greater depth. So the first was ego, which is, you know, sort of overconfidence writ large.

The second was emotion, our tendency to be, to trade on our emotions rather than our logic.

The third was attention, which was our tendency to confuse things that are visceral or lurid or sort of sexy with things that are

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