Our instincts lead us to be cautious in the face of danger. And investing might kick in this instinct as there is really no way to know what will happen next. This is why investors are uneasy when there’s instability or a downward movement in the market. They start panicking and making bad decisions that they usually regret later.
How can you be at ease even when the market is crashing down? How do you make sound decisions with your investments? What will you do with your investments at the time of COVID-19?
If you’re an investor or want to start investing, this episode is for you. You will learn how to remain calm and be optimistic in any situation. Because really, no one can control the market. but you can control how you react. You can control the decisions you make with your money.
Start walking the path of a successful investor as psychologist and behavioral finance expert Daniel Crosby talks about behavioral finance and the psychological, physiological, sociological, and neurological aspect of investment decision making. He is the author of the Laws of Wealth and The 10 Commandments of Investor Behaviour which we also touch on in this episode.
Highlights:
>> What is behavioral finance
>> Why investors should not panic when there’s market volatility
>> The concept of “Wall Street Bizarre World”
>> Reasons why you’re not a good investor
>> The psychology and physiology of sound investment decision making
>> Why having a financial advisor is a necessity when investing
>> Investing during COVID-19
>> Daniel’s book: Laws of Wealth & The 10 Commandments of Investor Behavior
>> What it means to automate & delegate
Resources:
>> The Ten Commandments of Investor Behavior
>> The Laws of Wealth: Psychology and the secret to investing success
>> Daniel Crosby’s Social Media
If you loved this episode, you have to listen to these episodes as well:
>> No Need to Worry, My Accountant Handles That
>> What the Financial Market Holds After the Coronavirus Pandemic
>> Becoming Successful Through Controlling What You Can
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