I am amazed how few views this video has. To me this explains a lot about the retail investor's interest in becoming better.
So inspiring! Describes human nature in such a clean way 👏
Love that a non-economist won the Nobel in Economics. There's a lesson there!
He's really just describing markets in general.
He never studied economics, what an advantage. Thanks to the academic world finance has been elevated to the level of physics, with dollar signs. Unfortunately since finance lives in the space of greed and fear, human behavior overwhelms any notion of deterministic or Gausian models.
27:08-27:30 best message in the entire speech
Behavior Science driven by psychology, factoring long view from short Myopic view. Valuing the long view in hindsight using all good ideas and information leads to greater rewards for a long term. Social Economics drives the markets in most cases, thank you very much Daniel Kahneman.
Forget your risk aversion, forget hindsight... Buy and hold
Namaste Discretionary spending can be controlled easily as these are based on our likes Hence we can start by dividing expense into three categories a) Fixed b) Variable c) Discretionary
4:20 - Interesting how trading less makes investment more profitable (something Jack Bogle and Warren Buffet often talk about--stay the course)
just great!
Precise!!
25:34 "All of us are affected by all of these [biases]" That statement is part of the usual storytelling on cognitive biases but it is empirically wrong. When biases are measured at the individual level, it appears that people are exposed to them to varying degrees.
My brain circuit stuck on delay gratification so didn't adapt fast enough to market conditions, I've since changed that irrational behavioral characteristics.
A great approach.Nothing difference to what Lord Buddha has preached.in fact this is incomplete with all due respect....
Lewis Lisa Young Jason Jones Richard
DANIEL CON-EMAN needs to stop glorifying short term memory/rationality and support intuition.
@JumpRopeVeteran