Podcast Of The Week: McRaney Thinks Even Billionaires Aren’t So Smart

David McRaney’s a household name around here. I’ve got several years worth of regular check-ins on his work if you're interested. But if you don’t know him, this is easily one of the best interviews I’ve ever heard him give.  Bogumil Baranowski had McRaney on the Talking Billions podcast - so of course the financial … Continue reading Podcast Of The Week: McRaney Thinks Even Billionaires Aren’t So Smart

Be Careful What You Wish For (Jed McKenna, Agnes Callard, And Cypress Hill Edition)

“Be careful what you wish for, not because you’ll get it but because you’ll be turned into the thing that can get it.” Jed McKenna Agnes Callard explains the difference between the aspirational and the ambitious. Apply these to McKenna’s “wish” from the quote above. They have everything to do with our identities and the … Continue reading Be Careful What You Wish For (Jed McKenna, Agnes Callard, And Cypress Hill Edition)

Behavioral Problems Need Behavioral Solutions

The finance industry has gone from intuitively exploiting behavioral biases, to endlessly labeling them, to discussing how to “correct” them, to (finally) start talking about how to work productively with people who are inherently… people. Messy, regular, (sometimes self-aware) people.   Richard Thaler, long a lighthouse on these BeFi seas, said it beautifully in his book … Continue reading Behavioral Problems Need Behavioral Solutions

Podcast Of The Week: The Behavioral Finance Entertainment Complex

This Brian Portnoy take really resonated with me. He says we (the finance industry) have created a “Behavioral Finance entertainment complex that does very little to help real people make real decisions.”  In a nutshell, people are predictably irrational (as Dan Ariely put it).  We know a lot of ways these irrationalities manifest.  In the … Continue reading Podcast Of The Week: The Behavioral Finance Entertainment Complex