Scott Nations

speaker

580 appearances 1 recordings 1 series first heard Jan 2026 last heard 16 Jan

Scott Nations’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jan 2026 with 1.

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Prof G Markets · Your Brain is the Worst Investor in the Room — ft. Scott Nations · 16 Jan 2026 podcast

I want to start with some concepts from your book, and then I want to sort of think about how we can apply these ideas to markets and how we can think about investing in 2026.

But let's just start with your book.

The opening line from The Anxious Investor is, quote, the human brain is ill-suited for making wise investment decisions.

I love that.

Why?

Why is the human brain so bad at making investment decisions?

The simple explanation is that investing is relatively new and evolution is not.

And so human beings evolved when they faced very different decisions versus, you know, what should I do with my portfolio or that sort of thing.

And let's face it, that for 100,000 years when humans were on the savanna,

They had to become loss-averse or risk-averse, two different things, but they're related.

Because the cost of making the right decision or the benefit for making the right decision would be relatively small.

You might get that night's meal.

But the cost of making a wrong decision could be catastrophic.

And so we've evolved and we've been socialized in ways that just are not really compatible with making great investment decisions.

And as I was writing the book and researching the behavioral biases that we all display, it dawned on me that of the 14 or 15 I talk about in the book, none of them, not a single one, Ed, makes you a better investor.

They all make you better.

a poor investor.

They all hurt investment returns.

And so that's why that is the case, because these biases were created hundreds of thousands of years ago in some cases.

But unfortunately, investing is relatively new.

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