Ep. 342: Victor Ricciardi Interview with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
Michael Covel
4.6 • 732 Ratings
🗓️ 4 May 2015
⏱️ 42 minutes
🧾️ Download transcript
Summary
My guest today is Victor Ricciardi, an Assistant Professor of Financial Management at Goucher College. Professor Ricciardi is a leading expert on the academic literature and emerging research issues in behavioral finance. He is the editor of several eJournals distributed by the Social Science Research Network (SSRN). Ricciardi is also the co-editor of the book Investor Behavior: The Psychology of Financial Planning and Investing.
The topic is behavioral finance.
In this episode of Trend Following Radio we discuss:
- Risk perception vs. risk tolerance
- The affect and the anchoring heuristic
- Behavioral finance vs. behavioral economics
- Looking at behavioral finance in the context of specific strategies
- Behavioral economics in the context of asset bubbles and the popping of asset bubbles
- Why economic growth does not increase happiness; mindfulness as an assist in the notion of good decision-making; the notion of animal spirits
- Behavioral school vs. the classical school in academia
Jump in!
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I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show.
To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/
You can watch a free video here: https://www.trendfollowing.com/video/
Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast
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Twitter: @covel
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LinkedIn: @covel
Instagram: @mikecovel
Hope you enjoy my never-ending podcast conversation!
Transcript
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| 0:00.0 | This is Trend Following Radio, where great thinking comes alive. |
| 0:10.9 | Nobel Prize winners, legendary traders, bestselling authors, and the pros that know what drive us irrational human beings. |
| 0:21.1 | I am your host, Michael Covel. |
| 0:24.0 | Not filtered, raw, honest. |
| 0:27.3 | That's my passion. |
| 0:32.3 | One of those troubling reminders comes up in today's podcast episode. |
| 0:40.9 | Well, not too terribly troubling to me, but I really hate it when someone points out |
| 0:48.8 | that the educational system isn't about the truth. |
| 0:57.8 | That there's some other motivation. |
| 1:05.2 | I mean, I've always known this myself, but the amount of money that the educational system spends, and I'm talking about the American university and college system primarily, the amount of money |
| 1:10.5 | they spend to present themselves |
| 1:12.0 | as above it all. |
| 1:16.8 | Well, that's just not the case. |
| 1:20.1 | Just not the case. |
| 1:23.1 | And looking at the battle, it is a battle, the battle between the efficient market hypothesis guys and gals versus the behavioral school, behavioral economics and behavioral finance school. |
| 1:39.3 | It's really interesting that in 2015, it's not yet about the truth. |
| 1:46.1 | We're just not yet there. |
| 1:49.6 | Today on the show, I have Victor Ricardi. |
| 1:53.0 | He's a professor of finance at Goucher College. |
| 1:55.6 | He specializes in behavioral finance, behavioral economics. |
| 1:59.7 | His very dense book from Wiley is called Investor Behavior. |
| 2:05.1 | He's the editor on it. |
... |
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