The Best Investing Psychology Interview I've Ever Heard

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whereskyle
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The Best Investing Psychology Interview I've Ever Heard

Post by whereskyle »

Absolutely blown away by Hersh Shefrin's interview on the Rational Reminder podcast: https://open.spotify.com/episode/62Bud2 ... l_branch=1

He tackles complex topics with clarity and satisfying detail. The components of his overall view support index investing even if they do not support an efficient market.

Some highlights:

1. Heuristic-driven biases: our inability to make long-term, rational decisions.
2. Our use of investing to satisfy needs other than returns, such as our desire to excel, compete, and prove ourselves as social beings.
3. How these factors produce a market that is not efficient.
4. Why one should still invest in index funds even if the market is not efficient.

And more...

But what is perhaps most impressive is the crispness of Shefrin's explanations.

Check it out, Bogleheads!
"I am better off than he is – for he knows nothing and thinks that he knows. I neither know nor think that I know." - Socrates. "Nobody knows nothing." - Jack Bogle
sonosoldi3112
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Joined: Fri Sep 17, 2010 8:40 pm

Re: The Best Investing Psychology Interview I've Ever Heard

Post by sonosoldi3112 »

thank you for posting .... really helped me and inspiring also.

Big Ups.
pizzy
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Re: The Best Investing Psychology Interview I've Ever Heard

Post by pizzy »

whereskyle wrote: Thu Sep 23, 2021 9:13 am Absolutely blown away by Hersh Shefrin's interview on the Rational Reminder podcast: https://open.spotify.com/episode/62Bud2 ... l_branch=1

He tackles complex topics with clarity and satisfying detail. The components of his overall view support index investing even if they do not support an efficient market.

Some highlights:

1. Heuristic-driven biases: our inability to make long-term, rational decisions.
2. Our use of investing to satisfy needs other than returns, such as our desire to excel, compete, and prove ourselves as social beings.
3. How these factors produce a market that is not efficient.
4. Why one should still invest in index funds even if the market is not efficient.

And more...

But what is perhaps most impressive is the crispness of Shefrin's explanations.

Check it out, Bogleheads!
Is there a non-Spotify link available?
Vanguard/Fidelity | 76% US Stock | 16% Int'l Stock | 8% Cash
livesoft
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Re: The Best Investing Psychology Interview I've Ever Heard

Post by livesoft »

pizzy wrote: Thu Sep 23, 2021 11:55 amIs there a non-Spotify link available?
Youtube https://www.youtube.com/watch?v=86bOJeu4BZA
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drk
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Re: The Best Investing Psychology Interview I've Ever Heard

Post by drk »

pizzy wrote: Thu Sep 23, 2021 11:55 am Is there a non-Spotify link available?
LMGTFY ... here's the main page. Also available wherever fine podcasts are sold freely distributed.
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livesoft
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Re: The Best Investing Psychology Interview I've Ever Heard

Post by livesoft »

From the podcast

Shefrin: "Vanguard did this incredible study they found that what it is that investors are looking for in connection with robo advising and the thing about robo advising is that many investors won't do it even if it is cheaper. They'll still go with a person. Why? Because the number one need is Peace of Mind, and they don't feel they can get that with a robo advisor."
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retired@50
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Re: The Best Investing Psychology Interview I've Ever Heard

Post by retired@50 »

pizzy wrote: Thu Sep 23, 2021 11:55 am Is there a non-Spotify link available?
Yes. The Rational Reminder has their own website.

See link: https://rationalreminder.libsyn.com/pro ... ting-ep167

I listened this morning on my walk. Good stuff, if you're into behavioral finance at all...

Regards,
If liberty means anything at all it means the right to tell people what they do not want to hear. -George Orwell
Ed 2
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Re: The Best Investing Psychology Interview I've Ever Heard

Post by Ed 2 »

pizzy wrote: Thu Sep 23, 2021 11:55 am
whereskyle wrote: Thu Sep 23, 2021 9:13 am Absolutely blown away by Hersh Shefrin's interview on the Rational Reminder podcast: https://open.spotify.com/episode/62Bud2 ... l_branch=1

He tackles complex topics with clarity and satisfying detail. The components of his overall view support index investing even if they do not support an efficient market.

Some highlights:

1. Heuristic-driven biases: our inability to make long-term, rational decisions.
2. Our use of investing to satisfy needs other than returns, such as our desire to excel, compete, and prove ourselves as social beings.
3. How these factors produce a market that is not efficient.
4. Why one should still invest in index funds even if the market is not efficient.

And more...

But what is perhaps most impressive is the crispness of Shefrin's explanations.

Check it out, Bogleheads!
Is there a non-Spotify link available?
https://podcasts.apple.com/us/podcast/t ... 0535510369
"The fund industry doesn't have a lot of heroes, but he (Bogle) is one of them," Russ Kinnel
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David Jay
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Re: The Best Investing Psychology Interview I've Ever Heard

Post by David Jay »

My assignment of behavioral issues in investing keeps climbing. I am up to about 85% behavioral and 15% technical.

And "technical" isn't very technical, just the basics. As Shefrin says in the interview: "It's not an engineering problem"
It's not an engineering problem - Hersh Shefrin | To get the "risk premium", you really do have to take the risk - nisiprius
SantaClaraSurfer
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Re: The Best Investing Psychology Interview I've Ever Heard

Post by SantaClaraSurfer »

When Shefrin gets into the psychology of lottery tickets and lottery stocks, you can see the hosts light up.

Then he moves to talk about how when surveyed, that investors actually expect that "safer stocks will have higher returns" and things open up further.

Good stuff.
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CyclingDuo
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Re: The Best Investing Psychology Interview I've Ever Heard

Post by CyclingDuo »

whereskyle wrote: Thu Sep 23, 2021 9:13 am Absolutely blown away by Hersh Shefrin's interview on the Rational Reminder podcast: https://open.spotify.com/episode/62Bud2 ... l_branch=1

He tackles complex topics with clarity and satisfying detail. The components of his overall view support index investing even if they do not support an efficient market.

Some highlights:

1. Heuristic-driven biases: our inability to make long-term, rational decisions.
2. Our use of investing to satisfy needs other than returns, such as our desire to excel, compete, and prove ourselves as social beings.
3. How these factors produce a market that is not efficient.
4. Why one should still invest in index funds even if the market is not efficient.

And more...

But what is perhaps most impressive is the crispness of Shefrin's explanations.

Check it out, Bogleheads!
Thanks for sharing! It was a very informative interview and well worth the listen.

Just be sure to bring your mirror, pot and kettle with you if you listen to it. :mrgreen:

CyclingDuo
"Save like a pessimist, invest like an optimist." - Morgan Housel | "Pick a bushel, save a peck!" - Grandpa
Stonksalltheway
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Re: The Best Investing Psychology Interview I've Ever Heard

Post by Stonksalltheway »

Thanks for sharing, I didn't know that I can find these things on Spotify.
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