Investing does not have to be difficult, scary, or emotional to be beneficial as you build wealth. In this video I dispel ways in which the typical do-it-yourself investor has been coerced by marketing and the financial services industry to participate in day-trading in order to be successful at investing. This is simply not true. There’s an easier, softer way that will not require you to be as smart as the analysts on Wall Street. Watch my video as I break down the pitfalls of emotional investing and why you never want to invest without a solid plan.
In this video I talk about Loss Aversion (Prospect Theory) & the Sunk Cost Fallacy – these are some important concepts that I read in chapter 2 of How Smart People Make Big Money Mistakes and How to Correct Them by Gary Belsky & Thomas Gilovich. I answer the following questions;“how do I become a better investor?” and “how do I make better financial decisions?”
“Why Smart People Make Big Money Mistakes And How To Correct Them: Lessons From The New Science Of Behavioral Economics”
by Gary Belsky, Thomas Gilovich