36: Dr. Daniel Crosby 10 Commandments of Investing Success
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Daniel Crosby is a PHD, and Psychologist, and behavioral finance expert who helps organizations understand the intersection of mind and markets. He joins us on this episode to discuss the 10 commandments of investing success he outlines in his New York Times Best-Selling book titled \\u201cThe Laws of Wealth: Psychology\\xa0and The Secret to Investing Success\\u201d.
In this episode, we learn from Dan\\u2019s experience and research while drilling down on finance through the lens of psychology. We also learn about Dr. Crosby\\u2019s perspective on the financial advisory industry, where it is going in the future, and how robo-advisors are changing the marketplace.
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Twitter: @danielcrosby
Daniel\\u2019s firm:\\xa0www.nocturnecapital.com
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Books:
Dr. Daniel Crosby: The Laws of Wealth
Robert B. Cialdini - Influence
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Youtube Video Presentation:
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The Ten Commandments:
- You control what matters most.
- You cannot do this alone.
- Trouble is opportunity.
- If you\\u2019re excited, it\\u2019s a bad idea.
- You are not special.
- Your life is the best benchmark.
- Forecasting is for weathermen.
- Excess is never permanent.
- Diversification means always having to say you\\u2019re sorry.
- Risk is not a squiggly line.
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Show Notes:
05:20 - Apply social science to improve money management
06:40 \\u2013 Financial advisor\\u2019s future
07:20 - \\xa0Control what matters most (1)
09:12 \\u2013 You can not do this alone (2)
14:50 \\u2013 How to choose a financial advisor
18:37 \\u2013 Trouble is opportunity (3)
24:30 \\u2013 Being excited is a bad idea (4)
26:45 \\u2013 You\\u2019re not that special (5)
28:55 \\u2013 Your life is a bench mark (6)
32:00 \\u2013 Ease of access to trading
34:20 \\u2013 Forecasting is for weathermen (7)
38:15 - Diversification means always having to say you\\u2019re sorry (9)
39:16 \\u2013 Excess is never permanent (8)
43:10 \\u2013 Risk is not a squiggly line (10)
45:01 \\u2013 Daniels personal portfolio
46:20 \\u2013 Robo-advisor vs Financial advisor
53:20 \\u2013 The best investors are the lazy ones
54:40 \\u2013 Being a better goalie
58:00 \\u2013 When the stock market crashes
1:03:00 \\u2013 Sams big secret
1:06:20 \\u2013 Facebook stock
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Copyright 2017. All rights reserved. Read our disclaimer here.
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