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Masters in Business
At the Money: Investing Is Hard
Jul 10, 2024
Financial expert Barry Ritholtz and Brian Portnoy discuss how human instincts and evolutionary history impact investment decisions. They explore the challenges of investing, including our tendency to trust fear instincts, seek safety in numbers, and be driven by emotions. The conversation sheds light on the importance of managing emotions and understanding evolutionary mismatches in the world of finance.
14:18
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Quick takeaways
- Investing challenges stem from our brains' evolution for survival conflicting with long-term strategies.
- Our storytelling nature leads to bias in decision-making, favoring narratives over numerical data.
Deep dives
Evolutionary Psychology and Investing
Investing is challenging due to the evolution of our brains, which are wired for survival in a pre-money era. Our immediate-return environment conflicts with long-term investment strategies like modern portfolio theory, leading to financial decision-making discrepancies. For instance, our struggle with comprehending distant future investments stems from our historical focus on the present for survival.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode