Embrace that we think at multiple levels, not just fast and slow. Our thought process is constructed in 3 levels, due to the complexity of our brains. The first level is instinct, which is our emotional response, the second level is intuition, a learned response or skill, and the third level is reasoning, which is your conscious mind involved in complex thought. Be disciplined in your investment decision making while playing the long game. A loss is felt more keenly than a win, and there will be loses in investing. But, when you lose, it will be more likely attributed to bad luck, than a bad decision due to having made the best decisions along the way.
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More information at https://www.mentalmodelspodcast.com
This book will help you overcome the biases that are keeping you from investment success!
Authored by Daniel Krawczyk, Ph.D. & George Baxter, JD, CFA
Published by Business Expert Press
Behavioral Finance Book AVAILABLE NOW ON AMAZON
Do you want strategies to make better financial decisions?
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