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My guest today is Barry Schwartz, an American psychologist and author. He is a professor of Social Theory and Social Action at Swarthmore College. Schwartz\u2019s psychological work is right there at the foundation of why any trader or investor will have success.\xa0

The topics are his books The Paradox of Choice: Why More is Less and Practical Wisdom: The Right Way to Do the Right Thing.

In this episode of Trend Following Radio we discuss:

• Choice and practical wisdom
• Choice in selecting a mutual fund, and how Schwartz has seen that unfold in corporations
• The paradox of options
• Having too much choice
• Democracy and choice
• The idea that decision-making has shifted from the expert to the individual
• Why prescription drugs are marketed to people who can\u2019t buy them outright
• If choice drives clinical depression
• Expectations
• The idea of practical wisdom
• Judgment and discretion in the workplace
• Wisdom and the education system
• Having a \u201cscript\u201d from your employer that prevents you from thinking outside of the box
• The importance of working with like-minded people
• How things have changed since the 2008 financial crisis

Jump in!

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I\u2019m MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I\u2019m proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show.

To start? I\u2019d like to give you a great piece of advice you can use in your life and trading journey\u2026 cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/

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