Wealth Advisor Reveals How Money Plays Tricks on Your Mind (Feat. Naftali Horowitz) | KOSHER MONEY

Think you know money? Think again!

Money has an interesting way of playing tricks on our minds and only those who are either gifted or trained will spot them!

Rabbi Naftali Horowitz reveals what EVERYONE should know.

TIME STAMPS:

00:00 Opening Remarks
02:31 Are Financial Behaviors Logic or Gut?
06:33 What is a Heuristic?
10:45 Heuristic #1: Representation Bias
15:54 Rabbi Horowitz's Favorite Study
18:15 Investing Pitfalls
19:57 Why Affinity Fraud Happens
22:00 Racism and Stereotyping
22:56 Sponsor: Twillory
24:12 Heuristic #2: Mental Accounting Bias
30:00 The Car Dealership Trap
31:55 The 2008 Financial Crisis
34:53 The Lottery Effect
38:29 The Credit Card Trap
39:10 Sponsor: Approved Funding
40:39 Heuristic #3: Regret Aversion
44:32 Regret and Investing
49:16 Sponsor: Colel Chabad
51:04 Heuristic #4: Anchoring
54:52 Anchoring Investing Mistakes
58:04 Recap and Concluding Remarks
1:00:39 Outro

If you have questions/feedback to share on this weeks episode, please email [email protected]

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Book Recommendations:

Predictably Irrational
by Dr. Dan Ariely
https://tinyurl.com/396zu2zd

Thinking, Fast and Slow
by Daniel Kahneman
https://amzn.to/3OFLzQa

Why Smart People Make Big Money Mistakes and How to Correct Them
by Gary Belsky
https://tinyurl.com/yc6r9cj8

You Revealed: A Torah path to a Life of Success
by Rabbi Naftali Horowitz
https://amzn.to/36fxXbK
(Please note that this book was written predominately for an Orthodox Jewish reader. Due to high demand the book sells out quickly but is usually back in stock within one week.)

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