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cover of episode Behavioral Finance Mistakes That Hurt Your Portfolio and What “Good” Returns Look Like

Behavioral Finance Mistakes That Hurt Your Portfolio and What “Good” Returns Look Like

2025/2/24
logo of podcast NerdWallet's Smart Money Podcast

NerdWallet's Smart Money Podcast

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Sam Taube
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Yohance Harrison
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Yohance Harrison: 我是行为金融顾问,我解释了行为金融学如何影响投资决策。人们常常因为情绪或心理学而非理性地做出金钱决策。认知失调会导致锚定偏差和近期偏差,这两种偏差会相互影响,形成恶性循环。锚定偏差是指第一个看到的数字会影响你的决策,即使不应该。例如,投资者可能会在股票价格下跌后拒绝出售,因为他们锚定在最初的价格上。近期偏差是指我们假设正在发生的事情会永远发生下去,导致投资者在市场上涨时认为市场只会上涨,在下跌时认为市场只会下跌。为了对抗这些偏差,投资者应该放眼长远,认识到市场有周期性波动,并为长期投资做好准备。不要让情绪影响投资决策,要制定计划并坚持下去。将投资视为长期游戏,目标是长期获胜,而非短期投机。对股票市场运作的了解有助于减少偏差,但更重要的是控制情绪。了解行为偏差,制定明确的计划并坚持计划,以及减少外部干扰,有助于对抗行为偏差。面对市场波动,有时最好的策略是保持平静,坚持既定计划。在做出投资决策前,要区分是基于情绪还是基于事实和基本面。金钱恐惧和财务创伤会增加人们受行为偏差影响的可能性,金钱恐惧会导致投资者采取不行动,错失良机。机器人顾问可以帮助避免情绪化决策,但它们并非完美无缺,也需要人工干预。机器人顾问需要结合人类的专业知识和判断进行调整,以适应客户需求和市场变化。即使是专业人士也会受到行为偏差的影响,需要自我反思和调整。投资的目的是低买高卖,而不是无限持有。 Sean Pyles: 我与Yohance Harrison讨论了行为金融学以及如何避免常见的投资陷阱。我们探讨了锚定偏差、近期偏差以及情绪化决策如何损害投资。我们还讨论了如何制定长期计划以克服情绪化投资,以及机器人顾问如何帮助投资者坚持计划。 Elizabeth Ayoola: 我与Sean Pyles和Yohance Harrison一起讨论了行为金融学以及如何避免常见的投资陷阱。我们探讨了锚定偏差、近期偏差以及情绪化决策如何损害投资。我们还讨论了如何制定长期计划以克服情绪化投资,以及机器人顾问如何帮助投资者坚持计划。

Deep Dive

Chapters
The episode introduces the topic of behavioral biases in investing and sets the stage for the discussion. It also introduces the hosts and announces a new co-host and logo for the podcast.
  • Behavioral biases can hinder progress towards financial goals.
  • The episode will help overcome self-imposed roadblocks to make smarter money moves.
  • Elizabeth Ayoola is the new full-time co-host.
  • The podcast has a new logo.

Shownotes Transcript

Learn how behavioral biases impact your investments and what a “good” return from your portfolio looks like.

How do behavioral biases affect your investing decisions? What kind of returns should you expect from your investments? Hosts Sean Pyles and Elizabeth Ayoola discuss common psychological traps investors fall into and how to set realistic expectations for long-term portfolio growth. They begin by speaking with Behavioral Financial Advisor Yohance Harrison, founder of Money Script Wealth Management, about behavioral finance, with insights on anchoring bias, recency bias, and how emotional decision-making can hurt your investments. They also discuss strategies to counteract these biases, how long-term planning can override emotional investing, why patience is key to market success, and how robo-advisors can help you stick to your plan.

Then, investing Nerd Sam Taube joins Sean and Elizabeth to answer a listener’s question about whether their investment returns are on track. They discuss what a "good" return looks like, how different types of mutual funds impact performance, and when to consider adjusting your investment strategy. 

7 Best Mutual Funds for February 2025 and How to Invest: https://www.nerdwallet.com/article/investing/how-to-invest-in-mutual-funds

In their conversation, the Nerds discuss: behavioral finance, investment biases, anchoring bias, recency bias, emotional investing, stock market psychology, long-term investing, short-term investing, market volatility, mutual fund returns, index fund returns, S&P 500 average return, risk tolerance, investment performance, robo-advisors, automated investing, when to sell stocks, how to manage investments, financial anxiety and investing, how to pick mutual funds, investment education, investment portfolio strategy, when to rebalance your portfolio, how to diversify investments, investment growth expectations, financial planning, how to avoid bad investments, investment risk management, and active vs passive investing.

To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected]).

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