Mental Model: Expertise #14
Listen now
Expertise can serve an investor very well, although it can take 10,000 hours to be a true expert in a particular field. Skills developed in another discipline that has a similar process, can allow an investor to build grit by sticking to a specific discipline, while building a mind set to build towards expertise. Top tip, prioritize sleep because it is restorative and helps with memory and building of expertise. Also, investors will rely on industry 'experts' to understand a particular area, without checking that this individual understand the market, thus their advice may not be useful in the investing forum.
More Episodes
Follow along with our book “Understanding Behavioral Bia$” by Dr. Daniel Krawczyk and George Baxter, JD, CFA, (Chapter 8) while listening to this podcast. BUY on Amazon (copy and paste). Electronic version and paperback. The purpose of fundamental research during the...
Published 12/03/19
Book review and origin story of "Understanding Behavioral Bia$: A Guide to Improving Financial Decision Making”. This book is a great tool to improve your investing skills. This is not a list of biases, but a guide that provides best practices to overcome biases when investing. Remedies to...
Published 11/25/19
Idea vetting is the second step in the Investment Process - how to improve your process and what Biases are keeping your from your financial and investing goals. NEW BOOK "Understanding Behavioral Bia$: A Guide to Improving Financial Decision Making" Available on Amazon NOW. Behavioral finance...
Published 11/20/19