Episode Summary
CEO John Nicola, interviews Dr. Daniel Crosby; a Psychologist, behavioral finance expert, and New York Times best-selling author who helps organizations understand the intersection of the mind and markets.
In their discussion today, they talk about the markets so far this year; it’s effect on investor behavior, including the perversity of risk; and the psychology behind success. Dr. Crosby explains the four consistent types of behavioral risk, the three pieces we need to have in place to be able to make real changes in our behavior, what cognitive dissonance is and how it applies to the way investment decisions get made, and how someone can objectively measure how successful they are as a behavioral investor.
Mentioned in this episode
Personal Benchmark: Integrating Behavioral Finance and Investment Management, by Daniel Crosby and Charles Widger
Howard Marks: The Perversity of Risk
The Hour Between Dog and Wolf: How Risk Taking Transforms Us, Body and Mind, by John Coates
The Undoing Project: A Friendship That Changed Our Minds, by Michael Lewis
Robert Shiller’s CAPE Index
The Behavioral Investor, by Daniel Crosby
Guest Bio
Dr. Daniel Crosby
Educated at Brigham Young and Emory Universities, Dr. Daniel Crosby is a psychologist and behavioral finance expert who helps organizations understand the intersection of mind and markets. Dr. Crosby recently co-authored a New York Times Best-Selling book titled, Personal Benchmark: Integrating Behavioral Finance and Investment Management.
For his full bio, visit: LinkedIn.com/in/DanielCrosby
About The Host - John Nicola
John is the CEO and Chairman of Nicola Wealth Management. He provides strategic leadership to Nicola Wealth Management — exercising his passion for providing innovative solutions to clients’ complex problems.
John has been a veteran of the financial services industry since 1974. His areas of expertise include investment management, estate and financial planning, as well as business planning with a focus on best practices for wealth building, exit strategies, and shareholder agreements.
For his full bio, visit: nicolawealth.local/our-team/john-nicola
Disclaimer
This presentation contains the current opinions of the presenter and such opinions are subject to change without notice. This material is distributed for informational purposes only and is not intended to provide legal, accounting, tax or specific investment advice. Please speak to your NWM advisor regarding your unique situation. Forecasts, estimates, and certain information contained herein are based upon proprietary research and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. NWM Fund returns are quoted net of fund-level expenses. Past performance is not indicative of future results. All investments contain risk and may gain or lose value. Projected returns are estimates only. Returns are not guaranteed. NWM is registered as a Portfolio Manager, Exempt Market Dealer and Investment Fund Manager with the required provincial securities’ commissions in Canada.
