The Psychology of Money: Why Smart People Make Dumb Financial Decisions
Launchpod Studio
8 episodes
2 weeks ago
A deep exploration into the psychological factors and cognitive biases that influence our financial decision-making. Through historical examples, behavioral research, and real-world case studies, this series examines why even intelligent individuals often make irrational money choices and how to overcome these inherent biases.
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A deep exploration into the psychological factors and cognitive biases that influence our financial decision-making. Through historical examples, behavioral research, and real-world case studies, this series examines why even intelligent individuals often make irrational money choices and how to overcome these inherent biases.
The Illusion of Control: Markets, Luck, and the Myth of Skill
The Psychology of Money: Why Smart People Make Dumb Financial Decisions
11 minutes
9 months ago
The Illusion of Control: Markets, Luck, and the Myth of Skill
Our final episode examines how the illusion of control leads investors to mistake luck for skill and ignore the role of randomness in financial outcomes. Through analysis of day trading success rates, mutual fund performance persistence, and gambling behavior, we explore the human need to find patterns in random events. The episode concludes with research on how accepting the limits of control can lead to better financial decisions and outcomes.
The Psychology of Money: Why Smart People Make Dumb Financial Decisions
A deep exploration into the psychological factors and cognitive biases that influence our financial decision-making. Through historical examples, behavioral research, and real-world case studies, this series examines why even intelligent individuals often make irrational money choices and how to overcome these inherent biases.
