Why Smart People Make Bad Money Decisions
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Why Smart People Make Bad Money Decisions
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About this listen
In this episode, we explore why intelligent individuals often make irrational financial decisions, suggesting that the human mind is not a unified decision engine, especially when money is involved. We also discuss how ingrained psychological responses like loss aversion and narrative bias can override logic, leading to choices that seem counterintuitive but are deeply human.
Chapters
00:00 The Impulse to Act
00:02 Brain’s Decision Making
00:06 Loss Aversion and Fear
00:08 Narrative Bias and Social Comparison
00:11 Intelligence vs. Behavioral Finance
00:12 Financial Environment and Human Nature
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