If you’ve ever let Netflix auto-play several episodes of a show before, you’ve seen a variation of the image above. It’s the unofficial signal that you’ve entered “binge mode”. Streaming content platforms, like Netflix, popularized binge-watching by giving us access to entire seasons or series instantaneously. To say that we’ve taken this access and run…
Talking Behavioral Coaching on The Compound Show
Tadas Viskanta, from Abnormal Returns and Ritholtz Wealth Management, was kind enough to have me on an episode of The Compound Show. On this quick-hit style, mini-podcast we discuss my recent post, I Need Behavioral Coaching…Said No One, Ever. https://abnormalreturns.com/2019/04/26/we-all-need-behavioral-coaching-even-if-we-cant-admit-it/ You can hear our conversation below, on iTunes, Spotify, or where ever you listen to…
Your Financial Plan is a Compass, Not a Map
When working with new clients at our firm, one of the biggest misconceptions we immediately dispel is that a financial plan will be some hundred-page leatherbound tome. Even just a mental image of such an elaborate document implies a degree of precision and permanence that is neither possible nor realistic. Don’t get me wrong, a…
Worse Than Perfect, Better Than the Alternative
It’s no secret that football is a dangerous game. Despite firsthand knowledge of this fact, former NFL wide receiver Ed McCaffrey had no qualms about letting his sons play the sport. In the book Everybody Lies, author Seth Stephens-Davidowitz shares McCaffrey’s reasoning: “These guys have energy. And, so, if they’re not playing football, they’re skateboarding,…
“I Need Behavioral Coaching”…Said No One, Ever
According to a recent Morningstar study, investors do not perceive behavioral coaching from their advisor as a compelling value add. On a list of fourteen other attributes, “helps me stay in control of my emotions” was ranked dead last by the 693 investors surveyed about an advisor’s value. This sentiment is directly opposed to how…
A Mirror Onto Ourselves
“Behavioral finance is not the study of how ‘other’ people behave. It is the study of how we all behave. It is not just a window onto the world; it is also a mirror onto ourselves.” The quote above is from the great Jason Zweig, one of my favorite writers and part of the inspiration…