How to Invest, the Right Way | DR. DANIEL CROSBY
Order of Man
Ryan Michler
4.8 • 9.1K Ratings
🗓️ 19 March 2019
⏱️ 61 minutes
🧾️ Download transcript
Summary
If building wealth was simply about math, we'd all be independently wealthy because we all know how to add and subtract. Seeing as how we're not all independently wealthy, there must be something else at play. And, it might surprise you to know that it's you that has the potential to become your own worst enemy.
Today, I'm joined by repeat guest, Dr. Daniel Crosby to talk about human psychology and why it hinders your ability to build the level of wealth you're after. We cover how your behavior dictates investing success, how our physiology and psychology work against us, how a "contrarian mindset" will help us succeed, and how to invest - the right way.
SHOW HIGHLIGHTS
- How behavior dictates investing success
- 3 traits all investment strategies must posses
- How a contrarian mindset could improve your investment portfolio
- How to balance logic and emotion in investing
- How financial markets help you keep score in your life
- Why overestimating our abilities hinders performance
- How good behavior can be expensive but necessary
- The power of a financial coach
- How "hedonic adaptation" keeps us from being happy with more money
- How "action bias" hurts our portfolios
- How our social nature has created incredible amounts of wealth
- How our physiology and psychology can work against us
- How noise and chaos is our enemy and how to tune it out
- The need to overcome arrogance and ego in investing
- Why "rule-based behavioral investing" is so powerful
DR. DANIEL CROSBY
Today I am joined by repeat guest, Dr. Daniel Crosby.
He is a trained psychologist, behavioral finance expert, and asset manager. Specifically, he studies market psychology to understand the nature of why we do what we do and how it impacts our ability to invest successfully in financial markets.
He is a New York Times Bestselling Author and his ideas have made him a critical voice and expert in the financial community.
As a former financial advisor myself, I've been connected with Dr. Crosby for years and have applied many of his ideas and teachings into my previous financial practice.
He brings a unique and refreshing perspective to building wealth and one that has the potential to help you finally invest successfully.
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Shownotes: https://orderofman.com/209
Website: https://orderofman.com
Transcript
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| 0:00.0 | If building wealth was simply about math, we'd all be independently wealthy because we all know how to add and subtract. |
| 0:06.0 | Seeing as how we're not all independently wealthy, there must be something else at play. |
| 0:10.6 | And it might surprise you to know that it's you that has the potential to become your own worst enemy. |
| 0:16.4 | Today I'm joined by repeat guest Dr. Daniel Crosby to talk about human psychology and why it hinders your ability to build the level of wealth that you're after. |
| 0:25.4 | We cover how your behavior dictates investing success, how our physiology and psychology work against us, how a contrarian mindset will help us succeed, and how to invest the right way. |
| 0:37.8 | You're a man of action. You live life to the fullest, embrace your fears, and boldly charge your own path. When life knocks you down, you get back up one more time, every time. |
| 0:47.8 | You are not easily deterred or defeated, rugged, resilient, strong. This is your life, this is who you are, this is who you will become. |
| 0:57.0 | At the end of the day, and after all is said and done, you can call yourself a man. |
| 1:02.2 | Gentlemen, what is going on today? My name is Ryan Mickler, and I am the host and the founder of this podcast and the movement that is order of man. |
| 1:09.8 | My job is to help us, as men reclaim and restore what it means to be a man in a society, in a media, in social media outlets that seem to be constantly and continually rejecting the notion of traditional masculinity. |
| 1:25.0 | So what I do each and every week is interview some of the most successful men on the planet. These are New York Times bestselling authors, athletes, scholars, warriors, entrepreneurs, and any man out there, frankly, who has had an achieved some level of success in his life. |
| 1:39.4 | I've got a very interesting one lined up for you today from a behavioral psychologist in front of mine, Dr. Daniel Crosby. |
| 1:45.0 | But we've had guys like Jaco Willink, David Goggins, Grant Cardone, Andy Frasilla, Tim Kennedy, TJ Dillesha, the list is just incredible. |
| 1:54.2 | And I'm so blessed and fortunate to be able to have the opportunity to have conversations with guys like these. |
| 1:59.4 | And frankly, I wouldn't be able to do it without you. And I've noticed that there's a lot of new men here. So if you are new, I want to welcome you. |
| 2:05.4 | And of course, if you're joining us again, or you've been with us for any amount of time, I want to thank you for the support. |
| 2:11.0 | So guys, like I said, got a good one lined up. Before I get into that, I want to make a couple of quick mentions. |
| 2:16.4 | The first one is my friends and partners over there at Origin Main. Now usually I talk about their nutritional supplements, which are great. |
| 2:23.4 | You should definitely check it out. Jaco's joint warfare, super krill, mulk, discipline, had to origin main.com and use the code order at checkout. |
| 2:33.4 | But I want to specifically talk with you about their immersion camp. There's your Getsu immersion camp coming up August 25th through September 1st. |
| 2:40.4 | If you head to origin main.com slash order camp origin main.com slash order camp, you can get registered. Do that very quickly. |
| 2:48.9 | Because I think they're going to sell out here within probably the next couple of weeks. I imagine based on where I know they are right now. |
... |
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