The Psychology of Money & Behavioral Finance w/ Daniel Crosby (MI116)

Video Description

Robert Leonard chats with Daniel Crosby about behavioral finance, the psychology of money, Daniel’s most important money lessons after studying countless investors, common misconceptions about money, Daniel’s framework when selecting individual stocks, and much, much more! Daniel Crosby earned his Ph.D. in Psychology, is currently the Chief Behavioral Officer at Orion Advisor Solutions, and is a USA Today and New York Times bestselling author. He is a psychologist and behavioral finance expert who helps organizations understand the intersection of the mind and markets. Dr. Crosby recently co-authored a New York Times Best-Selling book titled, Personal Benchmark: Integrating Behavioral Finance and Investment Management. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 00:53 - What is behavioral finance? 02:42 - Why is behavioral finance becoming more mainstream? 04:46 - Important money lessons and why investors need to get them right 08:11 - The biggest mistake that Daniel sees from investors 09:47 - Can money buy happiness? 14:30 - Misconceptions around money and human psychology 19:10 - Daniel’s framework on how to pick individual stocks 24:10 - Why stock picking might not be for everyone 25:31 - How do you avoid FOMO and stick to your investing plan? 27:31 - 4 primary psychological tendencies that impact investor’s behaviors 30:03 - Why the most successful people believe they aren’t special 33:55 - Biggest things Daniel learned about money and investment 36:43 - Action Plan for listeners 40:32 - Daniel’s question for Robert ✔️ Subscribe to Millennial Investing podcast show: https://open.spotify.com/show/7dnn22EWyo6MLsPaR492BM 🖊️ Access our free show notes and transcript here: https://www.theinvestorspodcast.com/millennial-investing/the-psychology-of-money ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ LISTEN 🎧 TO OTHER SHOWS FROM OUR NETWORK: ₿ If you're interested in Bitcoin, checkout our Bitcoin Fundamentals podcast show: https://youtube.com/playlist?list=PL_xlkwLDH1F8wOLjjwNCM5B1qFdrtTdTZ 📚 Dive into value investing and learn more about billionaires with our We Study Billionaires podcast show: https://youtube.com/playlist?list=PL_xlkwLDH1F9dDPFYGAHRbrWoToCe2uoU 🏘 Learn the ins and outs of real estate investing with our Real Estate 101 podcast show: https://youtube.com/playlist?list=PL_xlkwLDH1F8Yw_8xO2nk-RD7fhb3yktn 💸 Get introduced to the world of investing with our Millennial Investing podcast show: https://youtube.com/playlist?list=PL_xlkwLDH1F_p00VYv3psJ8rhDAGOvR5W ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ FOLLOW US ON SOCIAL MEDIA📱: 💻 Facebook: https://www.facebook.com/groups/theinvestorspodcast/ 👔 Linkedin: https://www.linkedin.com/company/the-investor's-podcast/ 🐦 Twitter: https://twitter.com/TIP_Network ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ 📥 Download Stig & Preston's 1-page checklist for finding great stock picks: https://www.theinvestorspodcast.com/form-youtube-checklist/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ❗ DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting.