Behavior Gap Radio

Howard Marks, a renowned investment strategist, joins the discussion on the intricate dance between risk and reward in investing. He emphasizes that higher risk doesn’t guarantee better returns, urging listeners to critically assess their approach to uncertainty. The conversation delves into the pitfalls of uncompensated risks, like betting on single stocks, and highlights the value of emotional discipline in investment decisions. Marks encourages a thoughtful sacrifice of certainty, promoting a clearer understanding of true risk for savvy investors.

In this episode, Carl reflects on the surprising value found in life's simplest moments, contrasting the desire for more extravagant experiences with the deep joy of quiet, everyday activities. He shares a personal story of finding peace in evening landscaping sessions, where the simplicity of nature brings lasting contentment. Inspired by a Wendell Berry quote, Carl explores the idea that true wealth lies in knowing where to find life's "rarest wildflowers," those quiet moments of happiness that require no explanation or defense—offering a unique perspective on what it means to invest in a fulfilling life.Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/

Carl recently received an email from a listener who was deeply moved by his episodes on hyperlocal investing. The listener shared how forming relationships with local producers has become one of their greatest sources of happiness. 🌱 They make it a point to visit local markets in each new city, connect with vendors, and fill their home with locally made items. Carl relates strongly to this sentiment, finding joy in supporting local businesses. Wouldn't it be amazing if there was a marketplace or events dedicated to hyperlocal investing? How could such an idea be spread to others who feel the same way? If you have a story about hyperlocal investing, Carl would love to hear it. Email him at hello@behaviorgap.com.

Today, Carl is excited about the idea of hyperlocal investing! This morning, he visited his local farmer's market to buy honey and the experience was incredible. He had the chance to meet the beekeeper and learn about his passion for producing local honey, which is helping with Carl’s allergies. For Carl, this connection represents the “return on connection” (ROC). Investing locally offers more than just financial returns; it builds relationships and strengthens the community. How can you invest your time, energy, and money locally? What connections could you build today?Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/

Carl, an experienced rock climber, shares gripping insights on risk management from his thrilling adventures. He recounts a harrowing story that emphasizes the difference between 'ignorant risk,' where consequences remain unknown, and 'honest risk,' where the dangers are clear but still embraced. This exploration prompts listeners to reflect on their own decision-making process regarding risks. How can we become more informed about the risks we take in life? Carl's candid reflections resonate deeply with anyone navigating uncertainty.

Carl, an insightful author and speaker who delves into personal clarity, navigates the complexity of true desires influenced by society. He discusses how external pressures from family and social media often lead us to adopt others' goals. Through his engaging essay from Volume One, he emphasizes the significance of identifying personal aspirations in investing. With a creative visual sketch, Carl illustrates that the only goal that truly matters is one's own, championing the quest for individual authenticity.

Have you ever thought about how paying attention to your pain could transform your relationship with money? In this episode of Behavior Gap Radio, Carl delves into profound insights from his conversation with Sharon Salzburg on the 50 Fires podcast. Sharon, a renowned meditation teacher, shared a valuable perspective on moving toward pain. Carl recounts a personal experience with a coach that sparked feelings of annoyance and how he applied Sharon's wisdom to understand and dissipate these emotions. By noticing and welcoming his feelings and exploring where they manifest in the body, Carl uncovers a deeper awareness of his reactions, particularly around money. How might practicing mindful awareness and self-inquiry change your financial mindset? 

Navigating the world of credit cards can be overwhelming. One expert suggests simplifying your choices to reduce stress and mental clutter. By selecting a card that demands minimal thought and reviewing it once a year, you can free up mental space for more important matters. Imagine how much easier life would be with fewer financial distractions! This approach emphasizes informed decision-making while minimizing ongoing deliberation. Think about how you would utilize that extra mental clarity!

Sharon Salzburg, a champion of financial mindfulness, and comedian Pete Holmes, explore the complexities of financial peace amidst everyday expenses. They discuss the importance of balancing lofty financial ideals with practical realities. Sharon emphasizes honoring the tension between these aspects, suggesting that awareness itself can lead to transformative financial practices. The conversation encourages treating each financial interaction as an opportunity for mindfulness, urging listeners to cultivate awareness in their financial dealings.

In this episode of Behavior Gap Radio, Carl discusses the concept of "enoughness," reflecting on those rare moments when he feels a deep sense of being and having enough. How often do you experience that feeling of contentment? Carl contrasts these moments with the pervasive fear of financial insecurity that dominates our culture, which often drives us to obsess over tactical financial decisions. Have you ever wondered if true financial peace comes from addressing our internal wiring around scarcity and security? Carl emphasizes that it does, and he explores how practicing awareness and understanding our emotional responses to money can help cultivate a lasting sense of enoughness, beyond just numbers and financial products!Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/