We are back with another episode of The Money Game Podcast with Phil Pearlman. Today we talk about the inability for some people trade US stocks from the long side due to biases stemming from past experiences. This is a real thing that we see constantly. So we talk about the causes, being aware of these feelings and what can be done to overcome these hurdles. I’m lucky that I’ve been through enough bull market and bear market cycles to not get stuck into betting on just one side or the other. But some people have a real fear of admitting they’re wrong and turning bullish at, what they think might be, precisely the wrong time. Some of this is driven by ego and some is just irrational anxiety. This is a really important conversation and one that I will likely listen to again several times over in the future.
In this episode of The Money Game, Phil and I talk about the Availability Heuristic and why we are more likely to invest in certain types of companies depending on where we live. This is a really interesting phenomenon that makes a lot of sense. I’m lucky that I get to avoid this bias more than others simply because of the process I use to perform my analysis. It’s a solution to a problem I didn’t even know I had! This is a short one that I think is worth a listen just to learn a little bit more about yourself.
In this episode I sit down with Phil Pearlman to discuss Phone Addiction. Many of us are unaware and even more people don’t even care to be aware. Is it the power that we have in our phones? Or do the phones have the power over us? Phil offers some advice on this front and shares what he’s been doing.
Back in March I climbed up the Highlands Bowl in Aspen for the first time. 4 or 5 turns in my skis popped off and I tumbled down the entire mountain. About 100 yards later, there I was hanging off the side of the cliff waiting for ski patrol to come help me. Miraculously, it took them less than 20 minutes to find us and bring my skis down to where I was. Even though I was perfectly fine, my body overreacted to the existential risks and the primitive parts of my brain took over the duties of what other parts usually handle. I’ve had similar feelings before after experiencing a bad loss in the market. Phil does an amazing job in this one in explaining the differences and similarities between these two types of risk and why my body reacted the way it did.
In this episode of The Money Game, Phil answers my questions about the work/life balance with: “There is no such thing”. He says life is all about decisions. I tried to push back a bit and point out the extremes, both in my life and in those around me, but he says I’m overthinking things. I thought this was a really helpful conversation, selfishly, so I hope it adds value to your process as well.
We’re back with another episode of The Money Game with Phil Pearlman. Today’s conversation is about the internet troll. Phil gives us insight into the science of what is taking place when a person actually has the time, and interest, to go out of their way to consume someone’s content, take the time to think about it and then go even further to publish angry and hurtful words about it. There are psychological issues there that we discuss from both the perspective of the troll and the content producer who gets harassed. This is a good topic and just one of many that we’ll try and cover here on The Money Game.