Peter Tuchman

2024, the market went up most of the time. Investors became very confident and started throwing more money at the market. During COVID, the market went down. People freaked out. They started taking money out. That was a big mistake. We also have confirmation bias where we get married to certain ideas. This is why some of your conservative listeners, Nicole, might

2024, the market went up most of the time. Investors became very confident and started throwing more money at the market. During COVID, the market went down. People freaked out. They started taking money out. That was a big mistake. We also have confirmation bias where we get married to certain ideas. This is why some of your conservative listeners, Nicole, might

read the wall street journal and watch fox and some of your liberal investors might read the new york times and watch cnn and and we go to this place that reaffirms what we're doing and we ignore the places that disagree with us and the investors do that you own a certain stock you go look for things that validate why you should own that stock people tend not to look for things that tell them they're wrong or they should exit something that they want to keep and so

read the wall street journal and watch fox and some of your liberal investors might read the new york times and watch cnn and and we go to this place that reaffirms what we're doing and we ignore the places that disagree with us and the investors do that you own a certain stock you go look for things that validate why you should own that stock people tend not to look for things that tell them they're wrong or they should exit something that they want to keep and so

read the wall street journal and watch fox and some of your liberal investors might read the new york times and watch cnn and and we go to this place that reaffirms what we're doing and we ignore the places that disagree with us and the investors do that you own a certain stock you go look for things that validate why you should own that stock people tend not to look for things that tell them they're wrong or they should exit something that they want to keep and so

And Warren Buffett famously said, when he buys a stock, he just doesn't look for things on why it will do well, but what could go wrong? And he is really looking for counter opinions. And that's a great way to fight that confirmation bias. And then lastly, another, and we cover a lot more of this in the book, but another one that's very powerful is

And Warren Buffett famously said, when he buys a stock, he just doesn't look for things on why it will do well, but what could go wrong? And he is really looking for counter opinions. And that's a great way to fight that confirmation bias. And then lastly, another, and we cover a lot more of this in the book, but another one that's very powerful is

And Warren Buffett famously said, when he buys a stock, he just doesn't look for things on why it will do well, but what could go wrong? And he is really looking for counter opinions. And that's a great way to fight that confirmation bias. And then lastly, another, and we cover a lot more of this in the book, but another one that's very powerful is

is the endowment effect, which is once you own something, you don't want to let it go. This is why when you go to a car dealer, they say, hey, do you want to get in the car and go for a drive? Because now you can see yourself owning the car at the jewelry store. They say, hey, go ahead and put these earrings on or put this necklace on because now it feels like it's yours.

is the endowment effect, which is once you own something, you don't want to let it go. This is why when you go to a car dealer, they say, hey, do you want to get in the car and go for a drive? Because now you can see yourself owning the car at the jewelry store. They say, hey, go ahead and put these earrings on or put this necklace on because now it feels like it's yours.

is the endowment effect, which is once you own something, you don't want to let it go. This is why when you go to a car dealer, they say, hey, do you want to get in the car and go for a drive? Because now you can see yourself owning the car at the jewelry store. They say, hey, go ahead and put these earrings on or put this necklace on because now it feels like it's yours.

That endowment effect kicks in. And that endowment effect is very powerful. If you own a stock, it takes a lot to get you to want to sell it because you feel very married to it. And so if you can become aware of these biases, it makes it easier to become a disciplined investor and stick to your plan.

That endowment effect kicks in. And that endowment effect is very powerful. If you own a stock, it takes a lot to get you to want to sell it because you feel very married to it. And so if you can become aware of these biases, it makes it easier to become a disciplined investor and stick to your plan.

That endowment effect kicks in. And that endowment effect is very powerful. If you own a stock, it takes a lot to get you to want to sell it because you feel very married to it. And so if you can become aware of these biases, it makes it easier to become a disciplined investor and stick to your plan.

You can't help it. Especially if you bought something that's done well, it becomes very hard to part ways with.

You can't help it. Especially if you bought something that's done well, it becomes very hard to part ways with.

You can't help it. Especially if you bought something that's done well, it becomes very hard to part ways with.

I think there's so much noise. Politics and social media have really put a lot of people on edge and it's starting to impact decision-making. And I personally see it with the thousands of clients that we work with at Creative. I see it impact the thinking of some of these clients. And I would just say-

I think there's so much noise. Politics and social media have really put a lot of people on edge and it's starting to impact decision-making. And I personally see it with the thousands of clients that we work with at Creative. I see it impact the thinking of some of these clients. And I would just say-

I think there's so much noise. Politics and social media have really put a lot of people on edge and it's starting to impact decision-making. And I personally see it with the thousands of clients that we work with at Creative. I see it impact the thinking of some of these clients. And I would just say-