Mon, 6 July 2020
We all have biases, and whether we are aware of them or not, they are directing our decisions moving forward or not moving at all. Jason Hartman shares the pros and cons of a few choice biases that play a significant role in your investment. As well as breaking down bias shared worldwide, Jason introduces some named and explicitly designed for investing. While regular listeners may be able to see the connection from episode to episode, these biases have multiple applications.
Meet The Masters Virtual: July 31 – August 2
Guests: Harry Dent, George Gammon, Sean Carroll
[4:00] “If you choose not to decide, you have made a choice.” -Rush
[8:30] Discussing the bogus real estate metric, that is, “return on equity. “
[10:00] Biases from the Chartered Financial Institute, CFA.
[11:30] The Savings Bias
[15:15] Opportunity Cost Bias
[17:00] Over-confidence Bias
[21:35] Availability Bias
[22:15] Loss Aversion Bias
[25:15] Breaking down bias into two categories; cognitive and emotional.
[25:25] Endowment Bias
[30:00] Introducing; The Compared To What Bias
[33:00] Understanding the importance of a checklist, from the perspective of a pilot.