PODCAST EPISODE 151: IS THE SKY FALLING? THE MARKET REACHES ANOTHER NEW HIGH, PART 1

EPISODE SUMMARY

In this episode of Your Business, Your Wealth, Paul explains what we should do when the market reaches new highs and puts us in a position to try and make sense of the latest news and advice as well as how to notice the signs to slow down. Paul explains how some perceive the market when it reaches a new high and how most people associate this rise to a market pullback or recession. This then creates the fear of potential losses which is also correlated to the fear of missing out on gains. This is part 1 of a 2-part series.

WHAT WAS COVERED

  • 02:57 – How Robinhood App Works and its hidden cost
  • 03:52 – “Payment for Order flow” in Robinhood App explained
  • 07:31 – What do people mean when they say “The sky is falling”
  • 08:34 – We are Pattern Recognition Machines
  • 09:28 – We are not rational beings
  • 10:34 – The meaning of Hindsight Bias explained
  • 12:00 – Effects of Hindsight Bias to our beliefs
  • 12:19 – Example events of Hindsight Bias
  • 16:21 – What does it really mean when somebody says “The Market is High”
  • 19:35 – Simulated performance of sample asset class mixes
  • 23:54 – Paul announces a special giveaway to those who leave a podcast review

TWEETABLES

LINKS

Sound Financial Group’s Website for a Financial Inquiry Call – Info@sfgwa.com (Inquiry in the subject)

Your Business Your Wealth on Instagram

Your Business Your Wealth on Facebook

Sound Financial Group on LinkedIn

Paul Adam’s on LinkedIn

Cory Shepherd on LinkedIn

Cape Not Required (Cory’s Book)

Sound Financial Advice (Paul’s Book)

Robinhood Trading App

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MUSIC CREDITS

“Legends Are Made” Copyright 2017. Music, arrangement and lyrics by Sam Tinnesz, Savage Youth Music Publishing SESAC and Matt Bronleewe, UNSECRET Songs SESAC

ATTACHMENTS

PRODUCTION CREDITS

Podcast production and marketing by FullCast

Recorded using Switcher Studio: sales@switcherstudio.com