Series 2 Episode 09 – The Importance of Behavioral Finance with Daniel Crosby
So today we are welcoming Dr. Daniel Crosby, who is a psychologist and a behavioural finance expert who helps organisations to really understand the mind and the financial markets. In Daniel’s second book he talks about his 10 Laws of Wealth and this then feeds into him talking about the investment management side of things.
His first book was called Personal Benchmark: Integrating Behavioral Finance and Investment Management, and he’s also just published his latest work, The Behavioral Investor, which is a look at the kind of neurology, psychology and physiology around how we make financial decisions. Daniel’s married with three children, and we explore some of his own relationships with money growing up as a child. His father was actually a financial adviser, so he grew up in a household where they did talk about money and his dad encouraged him to invest in the stock market. One of my favourite things is hearing him talk about how he teaches his three kids about how to invest. His nine year old daughter loves Disney, so she invests in Disney shares! So we talk about children and how we can teach kids about money, and then we dive into some of the human behaviours, and why sometimes we’re silly with money, and what emotions influence our financial decisions.
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