Owen Rascovitch

But the third one, which I believe overrules everything else, is this behavioural edge.

And you and what you and the team do at Sixpack is very interesting in this respect.

I think this is where you personally and as an organization can add a lot of value beyond just the simple analytics because you've got computers that can do the analytics.

You've got the access to the same information everyone else has.

So what's your advantage?

And I think if you can incorporate the behavioral aspect, how you can teach your clients, I think that's a huge advantage for you.

when they go to make a trade or to sell or something like that, you can actually prompt them and say, hey, if you do this, this is the tax outcome.

This is likely what you're feeling.

And it's simply because the computer can run an algorithm over your decision-making effectively and see what thousands of other people have done before you and then analyze what the expected outcome is.

And it's quite a unique way to tilt on behavioral investing.

So that's an interesting – it's kind of the behavior gap, and we'll put a picture in the show notes of what it is, but it's effectively buy high, sell low, and then repeat until broke.

And it's one of those things like, yeah, it's not until we have 2020 hindsight that we can realize that was a mistake.

So we've kind of moved into this now, but –

What are some of the... I guess we've... What are some of the ways that people can combat these things, do you think?

I really like the idea of automating things.

And I think some of the – particularly the online banks do a really good job of that, making it very simple to set up, say, BPAY transactions or direct deposits or whatever.

Regular payments.

And the problem is you just don't want to have too much, to make it too easy for yourself as well as overcomplicating it.

A few others that...

I quite like, and these are very simple things that people can do, is just have a checklist.