Ted Richards
speaker
214 appearances
1 recordings
1 series
first heard Jun 2019
last heard Jun 2019
Ted Richards’s voice in public audio — every appearance, attributed to the second.
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Appearances
People really get wrapped up in what has been performing well recently.
Yeah.
It's probably not so much a story right now, although it has kind of popped its head back up, is Bitcoin.
And we see how attracted people were, how allured they were to these double-digit performance returns month after month.
Yeah.
So it's be it Bitcoin, be it US tech stocks, be it lithium miners over here.
Marijuana stocks.
Yeah, or marijuana.
Yeah.
And so there'll always be the next one of those.
And it's just a matter of being aware that.
No one can predict all these things and what the genius does first, the fool does last.
So many people will just be trying to chase all these recently well-performing stocks and probably suffer some falls on the downside.
Another mistake is the hindsight bias, which I think people –
falsely put too much importance on their own memory and people assume that their memory events are engraved in their mind and they can recall them vividly.
But from what the research suggests is that our memory is more like an etch-a-sketch where we kind of can manipulate them to be... Yep, rewrite it.
Yeah, yeah.
Yeah, so when people, and this is some of the conversations I've had more recently, think about...
how they may behave in the next correction or crash, well, they'll go, well, you know, I learnt my mistake in 2008 and 2009, the financial crisis there, and I'll know that it's a buying opportunity.
But it's so easy to make mistakes.
Showing 81–100 of 214 · page 5 of 11
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