Everybody has an inner voice that either consciously, or subconsciously, affects our judgment and decision-making.
When it comes to investors, this internal voice can become very deep seeded in our thought processes and can become hard to identify, leading to poor decision-making.
This phenomenon is called cognitive bias and it affects each person to some degree.
Learning how to avoid cognitive biases can allow you to make better investment decisions which leads to a more secure and favorable future.
Our guest for today is Steve Settlage who is a full-time passive and semi-active investor.
Steve has a significant amount of experience investing in real estate and related vehicles.
He has been investing in a variety of asset classes since 2011 and has intimate knowledge of a broad spectrum of investment opportunities and structures as well as the marketplace as a whole.
Today we are going to discuss…
- What to learn from a bad deal and a bad partnership that our guest had where he lost a significant amount of money
- Some of the cognitive biases that occur
- Economic Biases
- Operator and mentor biases
- Intelligence bias (80% of the population thinks they are above average intelligence)
Take Control,
Hunter Thompson
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