Welcome podcast listeners. We have a fantastic episode for you today.

Last year when we published the Best Investment Writing

Volume 2, we offered authors the opportunity to record an audio version of their

chapter to be released as a segment of the podcast and listeners loved it. This year we're bringing you

the entire volume of the best investment writing volume 3 in podcast format.

You'll hear from some of the most respected money managers and

investment researchers all over the world. Enough for me. Let's get to our guests and

let them take over this special episode.

Hi, this is Ben Johnson. I'm the director of Global E.T.F.

Research with Morningstar.

Morningstar is a global research organization dedicated to empowering investors success.

To learn more about us, you can find us at morningstar.com.

You can find my team's work on the ETF tab of of Morningstar.com and you can find me personally on

Twitter at M-star E-T-F US. I'm going to read a piece titled When Markets Get Tough Don't Look.

In Thinking Fast and Slow, Nobel Memorial Prize in Economic Sciences Laureate, Danny Kahneman summarizes decades of work he has

done to better understand the way that we think.

The book's title alludes to The Two Speeds, or in in conamine's terms systems that we use to process information.

System 1 is fast. System 2 is slow. System 1 allows us to respond quickly to external stimuli with limited

information. System 2 is more pensive and calculated. Each has its own

benefits and drawbacks and together they can help explain the various

cognitive biases that Kahneman and his close collaborator Amos Tversky documented.

We owe System 1 an immense debt of gratitude.

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