Ep 225: Taking Risks And The Art Of Bluffing

HerMoney with Jean Chatzky

Jean Chatzky Her Money

Investing, Business

4.7 • 1.5K Ratings

🗓️ 5 August 2020

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

What role does luck play in life? How does luck relate to fate, and how does all of this tie back into what we can and can’t control? We’re discussing it all this week with Maria Konnikova, author of “The Biggest Bluff.” She talks about what good investors have in common, and the truth behind the “illusion of control.” We discuss emotions, and why they’re so critical to our decision-making process, and we get a crash course on how to bluff — and how to know when we’re being bluffed. In Mailbag, we talk aging parents, target date funds, and caring for a significant other financially. In Thrive, should you take a gap year if your college is closed this fall? Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	You're listening to an Airwave Media Podcast.
0:05.0	It's your decision process, it's your logic, it's the information you're taking in, the
0:09.3	information you're using, how you're analyzing that information, and it's also your emotions.
0:14.4	That's so crucial in any kind of decision-making.
0:17.2	It's also taking control of your mental state.
0:20.6	How are you interpreting things?
0:22.1	How are you reacting? Are you letting emotions into your decision process or not?
0:26.0	Are you accounting for the fact that you're tired, for the fact that you're hungry, for all of these different things?
0:32.0	That is the stuff that you can control. hungry for all of these different things.
0:32.5	That is the stuff that you can control.
0:35.0	What you can't control is the cards, the next card, the outcome.
0:39.6	That's just noise.
0:48.0	Her money is supported by Fidelity Investments. We all have our own financial needs and goals.
0:51.0	Investment advice from Fidelity can help you reach yours.
0:54.0	Plus, they have tools like financial checkups and more to help you make smarter, well-informed decisions every
1:00.1	day.
1:01.1	Visit Fidelity.com slash Her Money to learn more.
1:05.0	Hey everybody, I'm Jean Chatsky. Thank you so much for joining me today on her
1:18.4	money. If you are a regular listener to this show I suspect you already know that one of my favorite topics to dig into is behavioral finance. I really get into learning why we do what we do with our money and how our emotions play into our decisions,
1:38.4	whether we are motivated by fear or a desire for control or even love, these deep-rooted whies that we all have can change everything.
1:50.0	And wrapped up in every single one of these decisions is risk. How much risk we take when
1:56.0	we're in the stock market or buy a property or start a business. If you listen to
	...

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