Episode 13 – This is how to overcome the pitfalls of individual decision-making

If you want to manage your own money, you need to be able to think independently rather than being influenced by too many sources. We discuss what influences our decision-making, and the two different ways of making a decision. That is, individually, or as part of a group. Some of the points we cover in this episode include: -How we are influenced by the media and our social circle -How to disseminate information more carefully -Being wary of narrative economics -The Myers-Briggs test versus the Enneagram Assessment -How the brain creates emotions -Influence fads -Social physics: why we don’t always act as individuals in our own self-interest -Why this cycle has echoes of the dotcom bubble? Books referenced Irrational Exuberance, Robert Shiller How Emotions are Made, Lisa Feldman Barrett Devil Take the Hindmost, Edward Chancellor Extraordinary Popular Delusions and the Madness of Crowds, Charles Mackay Mastering the Market Cycle: Howard Marks Thanks for listening! Download a free chapter from our book ’Low Rates, High Returns’ https://www.lowrateshighreturns.com/book Pete Wargent https://www.petewargent.com/ https://www.linkedin.com/in/pete-wargent-37228322/ Stephen Moriarty https://twitter.com/SGM63