Money Does Boost Happiness, But Not The Way We Think It Does | Daniel Crosby

<p>The clearest indicators of our financial solvency are based on the behaviors we exhibit with our investments. Dr. Daniel Crosby PhD is a psychologist, behavioral finance expert, asset manager and bestselling author of four books including “The Behavioral Investor”: <a href='https://amzn.to/3Bl4s3t'>https://amzn.to/3Bl4s3t</a>. We examine with him the question of whether financial success ultimately brings us happiness? Surprisingly it can, but not in the ways that we think it does. </p> <p>Having studied the growing list of 200 odd behavioral biases and heuristics, Daniel has whittled them down to what he describes as the four “Big Daddy” biases: ego, emotion, attention and conservatism. We learn about why these matter so much and interestingly what Coke Zero can teach us about our biases!</p> <p>Daniel touches on his other bestselling book “You’re Not That Great”: <a href='https://amzn.to/3ifiRFC'>https://amzn.to/3ifiRFC</a> which refreshingly embraces the fact that we are in fact all fairly average! That self esteem is built not by awarding prizes for participation, but by taking a risk, working hard and acknowledging that occasionally we will fall flat on our face along the way!</p> <p>In our Grooving Session with Kurt and Tim, following our interview with Daniel we talk about the ways that we can apply Daniel’s insights to improve our wellbeing and our relationships. [Tim quotes the infamous “Man in the Arena '' quote from Theodore Roosevelt but apologies, we incorrectly credited the quote to Eisenhower, not Roosevelt in the episode.] </p> <p>If you would like to invest in the work that Behavioral Grooves does to bring you interviews like Daniels every week, please support our Patreon page: <a href='https://www.patreon.com/behavioralgrooves'>https://www.patreon.com/behavioralgrooves</a> thank you.</p> Topics <p>(3:09) Welcome and speed round.</p> <p>(5:51) Why understanding people is vital to understanding markets.</p> <p>(8:20) Daniel's journey into behavioral finance.</p> <p>(11:02) What