"I probably owe Dan a lot of money... because he has been directly influential to saving my people in my ecosystem at least a hundred million dollars." -Jon
Dan Ariely is an Israeli-American professor of psychology and behavioral economics at Duke University. He is a best-selling author and TED speaker, known for his work in irrational decision-making and social norms.
We delve into the fascinating world of human decision-making:
- Critical role of emotions in our choices, challenges of achieving true rationality
- Impact of AI on decision-making
- Challenge conventional notion of risk attitude in finance
- Why splurge on coffee for employees
Video clips: youtube.com/@SatovskyAssetManagement
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Timestamps:
1:24 Importance of understanding human decision-making
3:57 Behavioral economics
6:15 How emotions play a role in decision-making
9:04 Challenges of making rational decisions
11:45 Impact of AI on decision-making
15:10 Role of empathy in decision-making
21:14 Misconception of risk attitude in finance
24:02 True responsibility of financial advisors
26:21 “I think what we need to do is not to eliminate emotions, but look at every decision context."
36:31 “You as my financial advisor should look at my financial situation, and tell me what my risk attitude should be. You shouldn't change my portfolio to fit my feelings."
Connect with Dan Ariely:
Website: danariely.com/
X: @danariely
Book: "Misbelief"
Your host:
For over 25 years, Jonathan has started with a simple question – How can I help? Driven by a deep curiosity and insatiable appetite for learning, his life’s passion is to solve challenges for others and unlock people’s potential to pursue their dreams. In his dual role as CEO and Chief Behavioral Coach of SAM, Jonathan provides leadership, coaching, advanced financial planning, and oversight across client relationships and business operations.
Connect - Jonathan Satovsky:
Podcast: satovsky.com/podcast/
Satovsky Asset Management: satovsky.com
X: @jonsatovsky
Instagram: @jonsatovsky
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