Why Smart People Make Dumb Mistakes with Their Money
Why do investors constantly chase returns? Why do they buy mediocre investments that underperform the indexes? Why do they leave their money in investments that lose money yet are unwilling to sell until they increase in value? If you can understand your own behavior with money, you will become a much better investor and earn returns that will last your whole life.
Now Kerry Johnson explains why investors (possibly your clients) make such poor decisions with their money. You will learn:
• How overconfidence bias creates poor investment decisions.
• How the endowment effect stops you from selling bad investments.
• How sunk cost fallacy causes you to own investments until they are worthless.
• How status quo bias makes change more difficult.
• How framing and anchoring motivates you to spend more.
• The seven steps in picking an outstanding financial advisor.
• The five critical concepts in creating a successful portfolio.
Kerry L. Johnson, MBA, Ph.D. , America’s Business Psychologist, is a bestselling author and internationally sought after speaker with an upbeat, entertaining style, much like his writing. He travels 8,000 miles each week speaking around the world, and also heads a personal coaching company, Peak Performance Coaching.
