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The Intrinsic Value Podcast - The Investor’s Podcast Network

MI Rewind: The Psychology of Money & Behavioral Finance w/ Daniel Crosby

The Intrinsic Value Podcast - The Investor’s Podcast Network

The Investor's Podcast Network

Business, Education, Investing

4.6592 Ratings

🗓️ 11 November 2022

⏱️ 50 minutes

🧾️ Download transcript

Summary

IN THIS EPISODE, YOU’LL LEARN: 02:42 - What behavioral finance is and why behavioral finance has a big impact on one’s success as an investor. 06:22 - Daniel’s most important money lessons and why investors need to get them right. 11:03 - Whether money can buy happiness or not. 23:44 - Daniel’s framework on whether you should pick individual stocks in your portfolio, or just invest in low-cost index funds. 27:26 - Why stock picking can be very difficult for individual investors. And much, much more! *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Daniel Crosby’s podcast Standard Deviations. Daniel Crosby’s book The Laws of Wealth. Daniel Crosby’s book Behavioral Investor. Daniel Crosby’s book You’re Not That Great. Related Episode: Buffett Indicator Says Stock Market is Overvalued w/ Lance Roberts - MI230.   NEW TO THE SHOW? Check out our Millennial Investing Starter Packs. Browse through all our episodes (complete with transcripts) here. Try Kyle’s favorite tool for picking stock winners and managing our portfolios: TIP Finance. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: Fiscal.AI Connect with Daniel: Website | Twitter  Connect with Robert: Website | Twitter | Instagram  HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!  Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

Click on a timestamp to play from that location

0:00.0

You're listening to TIP. On today's show, we continue to revisit some of my favorite

0:05.6

podcast from the past in this millennial investing rewind. If you've missed our previous

0:11.2

rewind episodes, we've started to reshare some older episodes that are my favorites for a few reasons.

0:18.0

One, we get a bunch of new listeners each week, so the new listeners may not

0:22.2

have heard this episode before. Two, even if you've been listening for a while, you may have

0:27.7

missed this episode when it originally came out. Or three, even if you've heard it before,

0:33.0

it can be a great episode to learn from again. If you've already heard this episode or you're not

0:37.8

interested in hearing it, feel free to just skip it. There's no harm in that, and you can pick up

0:42.0

with our new episodes next week. All right, guys, that's all I had for you for this new intro. Everything

0:48.0

going forward is going to be from the original show. Hope you guys enjoy it. On today's show, I chat with Daniel Crosby about

0:58.1

behavioral finance, the psychology of money, Daniel's most important money lessons after

1:03.3

studying countless investors, common misconceptions about money, Daniel's framework when

1:08.9

selecting individual stocks, and much, much more.

1:13.0

Daniel Crosby earned his PhD in psychology, is currently the chief behavioral officer at

1:17.5

Orion Advisor Solutions, and is a USA Today and New York Times best-selling author.

1:23.4

He is a psychologist and behavioral finance expert who helps organizations understand the intersection

1:28.2

of the mind and markets.

1:30.8

This is Daniel's second time back on the show.

1:33.8

If you want to check out his first episode, that was episode number 14.

1:38.2

I really enjoyed chatting with Daniel this time, just like I did last time, and I hope you guys

1:43.1

enjoy this one just as much.

1:45.3

Let's dive in.

...

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