TIP447: How to Build a Human Bias Defense System w/ Gary Mishuris

The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.6 • 3.6K Ratings

🗓️ 13 May 2022

⏱️ 65 minutes

🔗️ Recording | iTunes | RSS

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Summary

IN THIS EPISODE, YOU'LL LEARN: 01:49 - Overconfidence 08:43 - Anchoring 11:18 - Endowment Effect 24:25 - Base-rate neglect and Recency bias 33:01 - Social Proof 48:30 - Scarcity And a whole lot 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 Stig, Clay, and the other community members. Silver Ring Value Partners Website. Behavioral Value Investor Blog. Gary Mishuris Youtube. Trey Lockerbie Twitter. Preston, Trey & Stig’s tool for picking stock winners and managing our portfolios: TIP Finance Tool. SPONSORS Support our free podcast by supporting our sponsors: Bluehost Fintool PrizePicks Vanta Onramp SimpleMining Fundrise TurboTax 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 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

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0:00.0	You're listening to TI-P.
0:03.1	On today's show, we are exploring behavioral finance with Gary Mishuris.
0:07.5	Gary is the managing partner and chief investment officer of Silver Ring Value Partners, an investment
0:12.5	firm that focuses on overlaying a behavioral finance focus system with the concentrated
0:16.6	long-term value strategy.
0:18.6	In this episode, we discuss human biases such as overconfidence, base rate neglect,
0:23.4	recency bias, anchoring, endowment effects, social proof, scarcity, and others. If you're
0:29.1	not familiar with the human biases I just named, then you are in for a real treat as we
0:33.0	are about to explore how our human nature can sometimes get the best of us even without
0:37.2	us knowing it.
0:38.2	So with that, please enjoy this discussion with Gary Mishuris.
0:42.5	You are listening to THE Investors Podcast.
0:48.5	We study the financial markets and read the books that influence self-made billionaires the
0:52.9	most.
0:53.9	We keep you informed and prepared for the unexpected.
1:05.8	Welcome to THE Investors Podcast.
1:07.4	I'm your host, Tray Lockerby, and today I'm very excited to have with me Gary Mishuris
1:11.5	on the show.
1:12.5	Welcome to the show, Gary.
1:13.5	Thank you very much for having me.
1:16.2	So I really wanted to bring you on because you are an expert at behavioral finance and
1:22.2	you overlay that with your value investing approach.
	...

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