Episode 3 – Are You an Irrational Investor
How do you deal with irrational people? People who think they know everything about investing, who watch CNBC religiously, the “know-it-all’s”. Do you get a lot of calls from irrational people? How do you deal with them?
Running time: 7:23
- “I’d rather lose half my clients than lose have my clients money.”
- CNBC, BNN, Financial Post, Globe and Mail, Leaderpost, 6 o’clock news, may not be the best place to get your investment information.
- There still is a “flat-earth society” (you will never convince everyone even if your argument is backed by proof)
- People are looking for a confirmation of their beliefs. When seeking out information in the wrong places. There’s no incentive to look in places where we don’t agree with the sources ideological beliefs.
- We seek out sources that confirm our thinking, we never seek out sources that contradicts our thinking.
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