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Episode 258: Prof. Meir Statman: Financial Decisions for Normal People

The Rational Reminder Podcast

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The Importance of Behavioral Finance

The asset pricing model of standard finance is no longer the capm it is a miss. The models of standard finance are messy enough that to evaluate a behavioral portfolio and call it suboptimal would almost be irrelevant because the models are so messy. Financial advisors have to have the kind of bedside manner that physicians have to really increase people's well-being beyond just increasing their wealth That was awesome I want to repeat part of it back and make sure that I interpreted right, he said.

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