you should never make a decision if you are H-A-L-T, which stands for a hungry, angry, lonely,

or tired. So whenever you find yourself and is sort of an emotional extreme or a physiological

extreme, it's a good time to not make a big, important decision.

Welcome to the Stay Wealthy podcast. Today on the show, we have a really, really special guest for you. His name is Dr. Daniel Crosby. He is a New York Times best-selling author, a psychologist, and most importantly, a behavioral finance expert. In other words, this guy knows a lot. He's really smart, really sharp,

and he's got a lot of great things to say. You've heard us talk at length about how difficult

it is to manage your emotions and behaviors around money and investments. And we brought him here

to really expand on that and teach us how we might be able to get more control over these emotions

and ultimately make better financial decisions.

He's also got a new book out called The Behavioral Investor.

So if this topic interests you, I highly, highly recommend checking it out.

He's also written a book called The Laws of Wealth, which is kind of an intro into this topic.

So if you want to start there, that could be a good place to start as well.

With that introduction, here is our conversation with Dr. Daniel Crosby.

Daniel Crosby, welcome to the show.

Thank you.

Great to be here.

So I want to kind of dive right

into this. For the last 30 years, the U.S. stock market has returned a little over 8% per year,

but the average investors only realize a return of about 4%. So I want you to just start off by

talking to us about why that is and what most investors are doing wrong.

So the primary reason why that is is because the truths of Wall Street are almost

inverse from the truths of every day.

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