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This podcast introduces financial frameworks as an essential tool for making sound financial decisions. The podcast outlines frameworks, provides concepts and tools while asking listeners questions. The emphasis is on learning by doing and includes two problems to be addressed by answering questions, doing some research and thinking about the values that go into financial decision making. This is an interdisciplinary approach to financial decision-making.
Episodes
Saturday Dec 23, 2023
Financial Frameworks Podcast 34: Trusting Your Judgement and Avoiding Overconfidence
Saturday Dec 23, 2023
Saturday Dec 23, 2023
"How do I know that I am making the right decision?" Financial Frameworks continues its highlights of Dr. Lehan's most difficult tasks by presenting research and suggestions on how to answer that question when making an investment. This podcst focuses on behavioral finance research that has shed light on how a person learns to trust their judgement and avoid overconfidence when information is conflicting, or absent, or, as is often the case, just plain confusing. Financial Frameworks' purpose is to help investors create frameworks that are durable, thorough and solid. This podcast describes common errors in decision-making processes and outlines PROSPECT THEORY research done by Daniel Kahneman and Amos Tversky that illuminates how our brain makes connections that aren't really there and how to avoid making those mistakes. What occurs when we are making decisions about money is not complicated, but is a process that most of us are unaware of - if we didn't know what to look for. Financial Frameworks job is to make the connections from the abstract, conceptual level to the point of action. This podcast does that - or at least begins to - regarding why and how to trust our judgements when investing.
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