How even facts can mislead you with money

9 snips

Jul 15, 2024

Guest

Alex Edmans

Guest

host (not included in the response)

Finance Professor Alex Edmans discusses how even facts can mislead you with money. Topics include navigating misinformation in finance, social media bias, pitfalls of data mining in investments, balancing data and intuition in decision-making, diversified cryptocurrency investment, and investing with a slow and informed approach.

Ask episode

Chapters

Transcript

Episode notes

Intro

00:00 • 2min

Navigating Misinformation in Finance

01:48 • 9min

Navigating Bias and Misinformation in Social Media and Decision-Making

10:30 • 17min

Navigating Hair Loss Treatments, Security Compliance Automation, and Sustainability Initiatives in Finance

27:27 • 2min

The Pitfalls of Data Mining and Confirmation Bias in Investment Decisions

29:36 • 7min

Balancing Data and Intuition in Decision Making

36:16 • 20min

Diversified Cryptocurrency Investment and Retirement Portfolio Analysis

56:44 • 7min

Navigating Investing with a Slow and Informed Approach

01:03:40 • 2min

We think facts are always helpful because they're the truth but that's only half the story when it comes to our finances. Alex Edmans is an economist and Professor of Finance at the London Business School. His book ‘May Contain Lies’ explains how our biases are exploited and what we can do about it.

🤝 Get 1:1 help with your money from our financial adviser service

⁠⁠⁠https://makingmoney.email/financial-advisors-audio⁠⁠⁠

🎉Sponsors

MoneyWeek Magazine - Try it for free:

⁠⁠⁠⁠⁠https://moneyweek.com/money⁠⁠⁠⁠⁠

TaxZap - Do your tax return / self-assessment:

⁠⁠⁠⁠⁠https://makingmoney.email/taxzap⁠⁠⁠⁠⁠

Vanta - Get your company secure and compliant: ⁠⁠⁠⁠⁠https://vanta.com/makingmoney⁠⁠⁠⁠

Odoo - Apps to run your business: ⁠⁠⁠⁠https://www.odoo.com/r/MM1⁠⁠⁠⁠

📈 Investment platforms we use:

Trading 212

Watch this video where Damo explains how to get the most from it:⁠⁠ https://youtu.be/BVVZhrM0LVQ⁠⁠

Get a free share worth up to £100 when you sign up for a new Invest or ISA account and deposit at least £1.

Use the code ‘MM’ or this link:⁠⁠ https://www.trading212.com/join/MM⁠⁠

InvestEngine

Get up to a £50 bonus when you invest at least £100.

⁠⁠https://investengine.pxf.io/daOD2Q⁠⁠

Vanguard

Minimum investment of £500 or £100/month.

⁠⁠https://www.vanguardinvestor.co.uk/

If you purchase a product or service using one of the links above, we may receive a commission. There will be no additional charge for you. Remember investments can fall and rise - and past performance is no guarantee of future results. Other fees may apply. Your money is at risk.

This is not financial advice. The reason it’s not financial advice is because it’s not tailored to you. We explain the principles of building wealth but if you want personalised advice, it’s worth speaking to a financial advisor. As with everything financial, please do your own research. We really encourage that because no one cares more about your money than you and if you learn the basics then it will change your life.