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TIP447: How to Build a Human Bias Defense System w/ Gary Mishuris
We Study Billionaires - The Investor’s Podcast Network
The Endowment Effect
The endowment effect. That's a really interesting one. What you were just describing is reminding me of this conversation i have with bill nigran at oak mark. And it sounds like they have this investment panel, i guess you would call it, or, you know, before they do make any decisions,. They do think what you're mentioning, which is having a devil's advocate in the room to kind of shoot down the idea. I think that's a something that's probably pretty uncommon in the retail space, but so valuable. It needs to be a real process, really with people empowered to really change the minds of the decision makers.
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