Behavioural Investing with Daniel Crosby
04/12/21 • 35 min
Welcome to the Financial Independence UK podcast! Join your hosts Tom and Alex as they talk about (enter topic name) and how it impacts your FI journey.
Discussion with Dr Daniel Crosby, author of The Behaviour Investor.
Realising that your behaviour is the best predictor of whether you reach your financial goals. People think that externalities have the most impact, whereas Daniel’s research suggests human choices have a much greater impact on wealth building.
Learn to utilise the emotions along your journey of self discovery so they are recognised rather than a detriment.
Awareness of your emotions is key, allow yourself to feel them, recognise why you feel like that. As attempts to control emotions can lead to worse results. Automation to remove decision making from the journey.
Managing market volatility from an emotional view. Market historians, look at historical data. Understand that severe drops do not frequently occur but be prepared for them. Look at things from a wider perspective to allow a clearer view. This drop will be a small squiggle on a long chart just like the past ones.
Financial plans are powerful, to help you through the fear. A route through the chaos.
It can also help you decide when to make decisions to enable you to make the highest quality, best thought out decision. We have least access to our faculties when we need them most.
“Money can buy you the absence of misery, it cannot buy you happiness.”
“Maximise your own earning power” Earn more per hour of your time, if it is time you sell.
As always, if you have any questions for the team, feel free to email us at
Piano music for intro and outro:
Heroic Reception by Kevin MacLeod
Link: https://incompetech.filmmusic.io/song/3871-heroic-reception
License: http://creativecommons.org/licenses/by/4.0/
Ecossaise in E-flat (WoO 86) by Kevin MacLeod
Link: https://incompetech.filmmusic.io/song/3700-ecossaise-in-e-flat-woo-86-
License: http://creativecommons.org/licenses/by/4.0/
Welcome to the Financial Independence UK podcast! Join your hosts Tom and Alex as they talk about (enter topic name) and how it impacts your FI journey.
Discussion with Dr Daniel Crosby, author of The Behaviour Investor.
Realising that your behaviour is the best predictor of whether you reach your financial goals. People think that externalities have the most impact, whereas Daniel’s research suggests human choices have a much greater impact on wealth building.
Learn to utilise the emotions along your journey of self discovery so they are recognised rather than a detriment.
Awareness of your emotions is key, allow yourself to feel them, recognise why you feel like that. As attempts to control emotions can lead to worse results. Automation to remove decision making from the journey.
Managing market volatility from an emotional view. Market historians, look at historical data. Understand that severe drops do not frequently occur but be prepared for them. Look at things from a wider perspective to allow a clearer view. This drop will be a small squiggle on a long chart just like the past ones.
Financial plans are powerful, to help you through the fear. A route through the chaos.
It can also help you decide when to make decisions to enable you to make the highest quality, best thought out decision. We have least access to our faculties when we need them most.
“Money can buy you the absence of misery, it cannot buy you happiness.”
“Maximise your own earning power” Earn more per hour of your time, if it is time you sell.
As always, if you have any questions for the team, feel free to email us at
Piano music for intro and outro:
Heroic Reception by Kevin MacLeod
Link: https://incompetech.filmmusic.io/song/3871-heroic-reception
License: http://creativecommons.org/licenses/by/4.0/
Ecossaise in E-flat (WoO 86) by Kevin MacLeod
Link: https://incompetech.filmmusic.io/song/3700-ecossaise-in-e-flat-woo-86-
License: http://creativecommons.org/licenses/by/4.0/
Previous Episode
Time is Money
Welcome to the Financial Independence UK podcast! Join your hosts Tom and Alex as they talk about time and money and how it impacts your FI journey.
In this episode we speak about the link between time and money and much of a role time plays in our modern society. Many of us trade hours at work for money in our payslips at the end of the month, for example. This creates an income ceiling as people won’t work ridiculous hours each week nor be paid a very high hourly rate for their field.
Value based payment instead of an hourly rate.
Breaking the time barrier, how to unlock your true earning potential - Mike McDerment and Donald Cowper.
The way to increase income is to either work more hours or increase the amount you earn per hour. These both have limitations.
As always, if you have any questions for the team, feel free to email us at [email protected]
Resource:
Swedish Investor. 80% of the benefits for 20% of the effort.
Links featured in the show:
https://www.youtube.com/channel/UCAeAB8ABXGoGMbXuYPmiu2A
Piano music for intro and outro:
Heroic Reception by Kevin MacLeod
Link: https://incompetech.filmmusic.io/song/3871-heroic-reception
License: http://creativecommons.org/licenses/by/4.0/
Ecossaise in E-flat (WoO 86) by Kevin MacLeod
Link: https://incompetech.filmmusic.io/song/3700-ecossaise-in-e-flat-woo-86-
License:
Next Episode
Parenting and FI with LazyFiDad
Welcome to the Financial Independence UK podcast! Alex as he interviews LazyFiDad on his approach to parenting and FI.
As always, if you have any questions for the team, feel free to email us at [email protected]
Check out the LazyFiDad website here: http://lazyfidad.com/
Topia: https://topia.life The newsletter is worth your time.
Piano music for intro and outro:
Heroic Reception by Kevin MacLeod
Link: https://incompetech.filmmusic.io/song/3871-heroic-reception
License: http://creativecommons.org/licenses/by/4.0/
Ecossaise in E-flat (WoO 86) by Kevin MacLeod
Link: https://incompetech.filmmusic.io/song/3700-ecossaise-in-e-flat-woo-86-
License: http://creativecommons.org/licenses/by/4.0/
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