Standard Deviations with Dr. Daniel Crosby

Tune in to hear:- Why do we often defer our dreams for so long and how might we be more proactive in seeking them out?- Reflecting back on their lives, many people wish they had taken more risks. Why might we see this with such clarity at the end of our lives, while actually living it in the present is so difficult for most of us?- Is “following your dream” good advice for everyone, or do you have to be situated in a certain way to pursue this in a meaningful way? Is this a biased concept that only accounts for those who are already privileged?- Being able to look beyond being burned out seems to be a necessary precursor to dreaming bigger. What manageable steps can we take to overcome burnout?- How can trauma play out intergenerationally?- How might we make trauma work for us instead of against us? What separates those whose traumas become maladaptive from those who use them to their benefit?- How can we think about unlearning bad behaviors?

Dr. Richard Smith believes that risk literacy is essential not only for independent investors; it’s essential for anyone looking to succeed in today’s exploding digital marketplaces. Pulling from his expertise in mathematics and technology, Dr. Smith advises his clients on how to navigate the noise and distractions presented by the media and social platforms, allowing them to direct their attention to the things that matter most in their personal & investment lives. Dr. Smith studied mathematics at UC Berkeley and earned a PhD in systems science from the Watson School of Engineering at SUNY. He serves as chairman of the board and executive director of the Foundation for the Study of Cycles and is a regular columnist and guest on outlets such as CNN, BBC News, MarketWatch, Forbes and NASDAQ.com.Tune in to hear:- What is systems science and how might it be applied in a financial context?- As a society, has our thinking become more systemic or more siloed in the past 20 years?- Productivity is highly correlated with humane structures in the workplace - why do we seem to be so averse to this idea and see humanity and productivity as opposite sides of a spectrum?- How is global uncertainty, and our attitudes towards uncertainty, shaping the markets today?- Not needing the money in your investment portfolio for life expenses greatly improves investment success. How can we make this truth pragmatic and attainable for people who do need the money?- At what point do we run with the herd temporarily, even if we disagree in some respects?- What can we learn from market cycles?- Get a sneak peak into Dr. Smith’s upcoming book ‘The Risk Manifesto.’Web: www.drrichardsmith.comCompliance Code: 1237-OAS-04/12/2021

Tune in to hear:- Why does Tra’s new book on entrepreneurship, Boss Brain, start with a focus on evolutionary psychology and brain science?- Does our wiring lead to a certain determinism or can we embolden ourselves by understanding our inner workings?- What are some cases where business owners confuse predictability with control?- Currently, 93% of people are working for the other 7% of people - Tra predicts that, unless swift action is taken, 99% of us will work for the other 1%. Why is this problematic and what can we do to avert this?- The baseline of comfort and meeting ones basic needs is easier to achieve, in many ways, than ever. If this is the case, why are we more risk averse than ever?- As an entrepreneur, how do you know when to listen to the naysayers in your life, as people who want to protect you and watch out for your wellbeing, and how do you know when to ignore them?- What are some of the societal wide benefits of increased entrepreneurship?- Would an increase in entrepreneurship help or hinder narrowing the wealth gap in America?- For people whose community, friends & family don’t have the resources to give their business its initial leg up, where should they seek out support and funding?- How can we, both as individuals and a society, encourage entrepreneurship more?Web: www.trawilliams.comCompliance Code: 0812-OAS-03/12/2021

This week, Dr. Crosby is joined by fellow behavioral finance geek Neil Bage. Neil is passionate about helping people make safe and informed choices and is a specialist on behavioral drivers of financial decisions. In this episode, we turn the tables and Neil interviews Daniel in celebration of the 2nd Edition release of Dr. Crosby's book 'The Laws of Wealth.' Tune in to hear: How does one go about controlling the controllable in their personal and financial life and what does one do if something that they have no control over matters a great deal to them? How do financial advisors go about laying the right foundations for dealing with the emotional aspects their clients will inevitably encounter? How do people maintain their composure and not get overly excited by, or attached to, a particular investment opportunity. Does this require a kind of courage? What proactive steps can advisors take to factor into the human and behavioral element of investment advice? Why might your average US citizen believe that investing in real estate is more fruitful than investing in the stock market? Web: www.neilbage.com Twitter: @NeilBage Compliance Code: 1002-OAS-03/24/2021

JC Parets launched the All Star Charts Research Platform in September of 2014 to provide technical analysis commentary across all asset classes to investors worldwide. He also has his own podcast, Technical Analysis Radio, which helps others grow their knowledge of technical analysis. JC grew up in Miami, FL and is a big sports fan. When he’s not looking through charts, he’s probably cooking, eating or watching a game. JC is also a certified sommelier and sake expert. Tune in to hear: What’s case can be made for technical analysts being the ultimate behavioral investors? Why is it that price action is the first and final word for technical analysts and how can they be so confident in purchases when they know nothing about their fundamentals, business or commodity? How do you manage risk with technical analysis and how do you differentiate between a daily dip and a true sell signal? What is something that JC was wrong about and how did he come to realize this and change his mind? How can being “agnostic” about a particular stock or asset class be in your favor? What is a widely ignored asset class that JC is excited about? Web: www.allstarcharts.com Twitter: @allstarcharts Compliance Code: 0989-OAS-03/24/2021

Johnny Sandquist is the Founder & CEO of Three Crowns Marketing. He's focused on supporting RIA firms and advisor technology companies for over a decade now. He has a wife and three kids and is a huge Star Wars geek. Tune in to hear: Does Johnny advise his marketing clients to avoid or pursue engaging their target market by taking a stance on divisive, political issues? If so, what might be the most prudent way to approach this? In such a painful and tumultuous time, like Coronavirus, how can you keep your business top of mind and promote yourself while staying sensitive to the fact that you might not be offering an essential service? The Oatly Superbowl commercial seemed to be the most universally hated ad that night. Is all of this attention potentially productive for them, or is will it potentially come back to bite them? What are some common themes among the most effective advertisement campaigns? How do we balance the, seemingly, conflicting values of self-care, “being a brand” and being authentic? What might be the most overhyped trend in wealth tech and what is one that has a lot of potential and should get more attention? Web: www.threecrownsmarketing.com Twitter: @JohnEllert Compliance Code: 0988-OAS-03/24/2021

Lindsey Bell is Ally Invest’s Chief Investment Strategist, responsible for shaping the company’s point of view on investing and the global markets. She is also President of Ally Invest Advisors, responsible for its robo advisory offerings. Lindsey has a broad background in finance, with experience on the buy-side and sell-side, in research, and in investment banking, and has held roles at JPMorgan, Deutsche Bank, Jefferies, and CFRA Research. Lindsey holds a passion for teaching individuals how to become successful long-term investors. She is a contributor at CNBC, and frequently shares her insights with various publications including the Wall Street Journal, Barron’s, MarketWatch, Business Insider, etc. She also serves on the board of Better Investing, a non-profit organization focused on investment education. Callie Cox is a senior investment strategist for Ally Invest. In her role, she helps educate Ally Invest customers about the financial markets through engaging content and strategic initiatives. Callie has worked in financial research for her entire career, with stints at LPL Research, TABB Group and Bloomberg. Her work has been featured in Bloomberg, the Financial Times, Yahoo Finance, and Barron’s (among other publications). You can also find her on Twitter at @callieabost. Tune in to hear: Are investors primed for both fear and greed based on their experiences with crises such as the tech bubble, great financial crisis and Coronavirus? Some think we are about to enter into a “second Roaring Twenties.” What do Lindsey and Callie make of this thesis? Was the collectivist approach of Wallstreet Bets driven by a combination of loneliness and interconnectedness on the internet, or was it potentially just a fad? Are people really learning about markets and getting engaged about markets in a meaningful, discerning way on Wallstreet Bets? By most estimates, institutional money accounts for 70-75% of the volume in the markets. Are we overstating the impact of retail investors? What are the mechanics of a short squeeze? What are some of the potential use cases of options trading and what are some of the dangers associated with it? Whether we are in a bubble or not, prices are quite high across the board. How might we position ourselves for success in the next decade? Web: www.ally.com Twitter: @justLBell & @callieabost Compliance Code: 0943-OAS-03/19/2021

In 2010, Stacy Havener founded Havener Capital Partners, an independent third party marketing firm, to provide sales and marketing services to a select group of high quality managers. Well recognized for her expertise in the Registered Investment Advisor and wealth management channel, Stacy has significant experience in product development as well as raising assets through successful distribution strategies. Previously, Stacy was a co-founder of third party marketing firm Candlewood Advisory Partners and worked with institutional marketing firm Arrow Partners. Her career in third party marketing began in 2000 when she joined Sincere & Co., LLC as the first employee. Prior to her 7 years at Sincere, she served as Marketing Manager for Grand Prix Funds (Wilton, CT). In her investment sales career, Stacy has raised over $5 billion dollars. Active in the industry, Stacy is currently on the board of the Third Party Marketers Association (www.3pm.org) after serving as the association President for 6 years. She is also the former chairperson of the Financial Planning Association’s Corporate Resource Counsel. Stacy holds her Series 6, 7, 24, 63, 66, and 79 licenses and is a registered representative of Compass Securities Corporation. She received her Bachelor of Arts in English Literature from Western Connecticut State University, graduating summa cum laude in 1998. Stacy was named to both the NCAA and the GTE/CoSida Academic All-American team for Division III Women’s Soccer and subsequently nominated for NCAA Woman of the Year in 1998. Based in Newport, RI, Stacy balances her career with her love of travel, passion for cooking, and an addiction to crossword puzzles. Tune in to hear: What role does well-crafted storytelling play in making an effective sale? Many sales organizations focus around measurable, quantative goals (e.g. how many calls did you make). What might they gain from focusing more on psychological variables, such as “behavioral IQ?” How do Stacy’s conversations differ from someone further down the adoption bell curve and how does she go about personalizing her communications? Which of the “Big 5” personality traits might early adopters share? How is owning up to your quirks a powerful approach, and why are we so scared to do this in a sales context?

Nathan Astle is the founder of Relational Money LLC where he offers training to financial advisors and money coaches on basic financial therapy skills. This will help them be better at their jobs, retain more clients, and improve the quality of care. Tune in to hear: What are some of the key differences and similarities between financial therapy, clinical psychology and behavioral finance? While we fixate on money and wealth in popular culture and in the media, Americans are also really reluctant to be direct about their personal financial matters. What accounts for this juxtaposition of obsession and secrecy in American financial matters? When considering happiness, we often ascribe money with significance above and beyond the elements of personal success. Why is this the case? What are some common money themes, or “scripts,” that one might find themselves within? If someone identifies a money script, that’s negatively impacting their personal and financial wellbeing, how difficult is it for them to change and how does one go about rewriting a money script that has become engrained? When should one enlist the help of a financial therapist instead of someone with social work or psychology background? Are soft skills more important now than ever before for financial professionals, or is the industry, as a whole, just pulling its head out of the sand? What soft skills are often underdeveloped in the average financial advisor? How do advisors empathize adequately, but not so fully that they are taking it home with them? There’s such a large chasm between knowing the right thing to do and actually doing it.

Tim Holland is the Chief Investment Officer at Orion Advisor Solutions, where he oversees the investment management and strategies for Orion Portfolio Solutions and Brinker Capital Investments. Prior to his current role, Tim was the Global Investment Strategist at Brinker Capital where he worked with senior members of the investment team to develop and deliver Brinker Capital’s macroeconomic and capital markets outlook, including the company’s investment views and portfolio positioning. Tim has over 20 years of investment experience. Prior to joining Brinker Capital, Tim was a Portfolio Manager at TAMRO Capital Partners, where he directed overall portfolio construction on two long-only, US equity strategies based on fundamental company and industry analysis and understanding the potential impact of economic, industry, and political trends on portfolio holdings.Tim received his Bachelor of Arts in political science from Drew University. He holds a FINRA Series 65 designation and is a CFA® charterholder. Tim’s investment commentary can be found in various business media, including CNBC, Fox Business, Bloomberg TV, Bloomberg Radio, The Wall Street Journal, Investor’s Business Daily, and Financial Times. Tune in to hear: Though market performance and the economy aren’t one in the same, and the market is forward looking in nature, it is still surprising how much it rallied in 2020 in spite of the year’s struggles. What sense can we make of this? The Fed and The Federal Government’s response to the pandemic may account for why the market is in the position it is. What do you say to critics of the government’s enormous response? What are Tim’s expectations of the market moving into 2021? What is Tim’s take on emerging markets and international stocks in a post-covid world? Bonds and fixed income used to act as a ballast in one’s portfolio. With their rates so low, and even negative at times, where can we look for a ballast in a portfolio now? What is some behavioral advice for investors living through this taxing moment? What practical steps can they take to ensure they don’t sabotage their investments? Web: blog.brinkercapital.com Compliance code: 0691-OAS-02/26/2021