Buffett-Palooza Dominates The Weekend… And In Other News Your Brain Is Broken

Money Tree Investing

Money Tree Investing Podcast

Stockmarket, Valuestocks, Investing, Finance, Passiveincome, Wealth, Business, Personalfinance

4.6 • 658 Ratings

🗓️ 8 May 2024

⏱️ 51 minutes

🔗️ Recording | iTunes | RSS

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Summary

Did you know your brain is broken? Today you find out why! In this episode we talk about coffee and humor and of course the stock market. We get into some deep stuff about cognitive dissonance and how it messes with our heads. Of course the conversation reroutes to investing. You gotta stay flexible and open-minded with your strategies. It's all about rolling with the punches and being willing to adapt, you know?

Today we discuss:

How history can't be viewed through the same lens as the present; it's a different time period.
The understanding of science evolves over time; what was once believed as truth may be debunked later.
Investing strategies, like buy and hold, may not always be effective and require flexibility.
Cognitive dissonance affects how people process conflicting information and form new realities.
How regularly evaluating investment decisions is essential to adapt to changing market conditions.
Sentiment in markets can shift unpredictably based on perceived threats or opportunities.
How the top five careers of millionaires as presented by Dave Ramsey's survey may surprise you!
We also answer a listener question!

For more information, visit the show notes at https://moneytreepodcast.com/your-brain-is-broken-605

Today's Panelists:

Kirk Chisholm | Innovative Wealth
Douglas Heagren | ProCollege Planners

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Transcript

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0:00.0	Welcome to the Money Tree Investing Podcast.
0:04.0	Stock market, wealth, personal finance, value stocks, invest in your life.
0:10.0	Hello, Smart Money Tree Podcast listeners. Welcome to the show.
0:13.0	My name is Kirk Chisholm and I'll be your host.
0:15.0	Today I'm joined with my good friend Doug Hagrin.
0:17.0	Hey Doug.
0:18.0	Morning, Kirk, it's Monday.
0:19.0	You're always going to get the best of us on a
0:21.4	Monday, like the many of you out there. Good news is, since you'll be tired, you'll be half listening,
0:25.6	and since we'll be retired, we'll be half speaking. But, hey, the most important thing, though,
0:30.9	I was able to still afford my cup of coffee this morning that I brewed myself because it sounds
0:36.0	like nobody can afford Starbucks anymore.
0:38.9	However, what's interesting is I saw a statistic last week or the week before, well, not
0:44.1	statistic.
0:44.7	If you look at Starbucks stock, it just tanked.
0:47.0	They missed all these numbers.
0:48.5	But yet this weekend, I was on a road trip.
0:50.7	My daughter plays soccer, so we went to Iowa.
0:53.4	And every Starbucks that we passed had a line of 10, 15 cars in the drive-through. So I'm still trying to figure out, like, I know coffee prices went through the roof for a while, and I'm sure that degraded profits. But Starbucks didn't just have profit drop. They had revenue drop. I don't see it. I keep hearing all this, the sky's falling, but if it's falling, it missed all the cars in the
1:13.3	drive-thru line.
1:14.4	America doesn't live off Duncan.
1:16.3	Let me tell you that.
	...

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