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Education

Standard Deviations

Updated 8 days ago

Education
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The Standard Deviations podcast is a weekly production that looks at money, mind and meaning, all through a psychological lens. Each week, psychologist and New York Times bestselling author Dr. Daniel Crosby interviews a fascinating new guest, experts in everything from finance to literature to wellness. Each guest provides listeners with three concrete ways to apply what was learned that week, ensuring that weekly listening becomes part of a path to a richer life. Episodes are brief, research-based, and designed to fit perfectly within your commute time. So, tune in for practical news that will help you make more, think more and be more.Learn more by following Dr. Daniel @danielcrosby or visit the website at www.standarddeviationspod.com/Standard Deviations is presented by The Guardian Network®

Read more

The Standard Deviations podcast is a weekly production that looks at money, mind and meaning, all through a psychological lens. Each week, psychologist and New York Times bestselling author Dr. Daniel Crosby interviews a fascinating new guest, experts in everything from finance to literature to wellness. Each guest provides listeners with three concrete ways to apply what was learned that week, ensuring that weekly listening becomes part of a path to a richer life. Episodes are brief, research-based, and designed to fit perfectly within your commute time. So, tune in for practical news that will help you make more, think more and be more.Learn more by following Dr. Daniel @danielcrosby or visit the website at www.standarddeviationspod.com/Standard Deviations is presented by The Guardian Network®

iTunes Ratings

80 Ratings
Average Ratings
78
2
0
0
0

Growth

By huffcraig - Apr 16 2019
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Dr. Crosby helps make us aware of the flaws in our brain and it’s our job to overcome them.

Life is about more than money.

By Rocky Lal - Dec 06 2017
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Awesome information about why we behave the way we do and how to improve ourselves.

iTunes Ratings

80 Ratings
Average Ratings
78
2
0
0
0

Growth

By huffcraig - Apr 16 2019
Read more
Dr. Crosby helps make us aware of the flaws in our brain and it’s our job to overcome them.

Life is about more than money.

By Rocky Lal - Dec 06 2017
Read more
Awesome information about why we behave the way we do and how to improve ourselves.

Listen to:

Cover image of Standard Deviations

Standard Deviations

Updated 8 days ago

Read more

The Standard Deviations podcast is a weekly production that looks at money, mind and meaning, all through a psychological lens. Each week, psychologist and New York Times bestselling author Dr. Daniel Crosby interviews a fascinating new guest, experts in everything from finance to literature to wellness. Each guest provides listeners with three concrete ways to apply what was learned that week, ensuring that weekly listening becomes part of a path to a richer life. Episodes are brief, research-based, and designed to fit perfectly within your commute time. So, tune in for practical news that will help you make more, think more and be more.Learn more by following Dr. Daniel @danielcrosby or visit the website at www.standarddeviationspod.com/Standard Deviations is presented by The Guardian Network®

Rank #1: Jim O'Shaughnessy - What Works on Wall Street

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Jim O'Shaughnessy is the founder of O'Shaughnessy Asset Management and the author of "What Works on Wall Street", one of the most influential investing books of all time. He joins me this week to discuss:

- How we can overcome the "illusion of uniqueness" and understand that we are just as prone to bias as the next person
-Whether or not he in fact killed value investing
-The primary psychological risks of both active and passive investing
-How to raise well-adjusted, successful children

You won't want to miss one of the brightest minds in quant investing and one of the best follows on Twitter.

Aug 14 2019

1hr 7mins

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Rank #2: Dr. Sarah Stanley Fallaw - The Next Millionaire Next Door

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Dr. Sarah Stanley Fallaw - The Next Millionaire Next Door

Standard Deviations welcomes Sarah Stanley Fallaw, Ph.D. the founder and President of DataPoints LLC, a research-based technology company that gives advisors tools to identify and guide better financial behaviors in their clients.

Dr. Fallaw is continuing and furthering the important work begun by her father, Thomas Stanley, author of The Millionaire Next Door. In this data-packed episode, Dr. Fallaw shares with us:

What to look for in an appropriate measure of risk tolerance
The characteristics shown by young people who are likely to become millionaires
The steps you can take to become the next millionaire next door

Learn more about Dr. Sarah:

https://www.datapoints.com/ https://twitter.com/sarahfallaw

Sarah's new book:

https://www.amazon.com/Next-Millionaire-Door-Enduring-Strategies/dp/1493035355/ref=sr_1_1?ie=UTF8&qid=1538393280&sr=8-1&keywords=sarah+stanley+fallaw

Nov 29 2018

36mins

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Rank #3: Tyrone Ross Jr. - The Lessons of Failure

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Tyrone Ross is a financial advisor, cryptocurrency enthusiast and Olympic Trials qualifier in the 400 meters. In this week's episode, Tyrone shares intensely personal stories of how his brushes with defeat have made him the success that he is today.

Our longest episode to date, you'll understand why we needed all 1.5 hours to have this important conversation! Listen in to learn:

How a handful of heartbreaking failures set Tyrone on his current path to success
What gave him hope in his darkest hour
Why Tyrone is a crypto believer at a time when many others are losing faith
Whether crypto is a currency an asset class or something different entirely
If the "I like blockchain but not Bitcoin" stance is a sensible one

Learn more about Tyrone:

https://www.noblebridgewealth.com/team-member-01/tyrone-ross-jr

Dec 11 2018

1hr 17mins

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Rank #4: Money Minute - The 6 Behaviors That Lead To Wealth

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You may not have money today, but will you down the line? New research from Dr. Sarah Stanley Fallaw has the answer.

Mar 25 2019

4mins

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Rank #5: Do's And Don't For Volatile Markets

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The stock market can be extremely volatile, but with a little understanding of market history and dynamics, you can navigate its ups and downs with greater ease.

Jun 29 2018

14mins

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Rank #6: You Will Never Have Enough Money

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We’re all familiar with the term “keeping up with the Joneses” but it’s doubtful that we understand just how deeply ingrained this is in our concept of wealth and success. Each year, a Gallup poll asks Americans to determine “What is the smallest amount of money a family of four needs to get along in this community?” Gallup finds that the answers to this question moves up in line with average incomes of the respondents.

A recent Princeton study set out to answer the age-old question, “Can money buy happiness?” Their answer? Sort of. Researchers found that making little money did not cause sadness in and of itself but it did tend to heighten and exacerbate existing worries. For instance, among people who were divorced, 51% of those who made less than $1,000/month reported having felt sad or stressed the previous day, whereas that number fell to 24% among those earning more than $3,000/month. Having more money seems to provide those undergoing adversity with greater security and resources for dealing with their troubles. However, the researchers found that this effect (mitigating the impact of difficulty) disappears altogether at $75,000.

For those making more than $75,000 individual differences have much more to do with happiness than does money. While the study does not make any specific inferences as to why $75,000 is the magic number, I’d like to take a stab at it. For most families making $75,000/year, they have enough to live in a safe home, attend quality schools and have appropriate leisure time. Once these basic needs are met, quality of life has less to do with buying happiness and more to do with individual attitudes.

After all, someone who makes $750,000 can buy a faster car than someone who makes $75,000, but their ability to get from point A to point B is not substantially improved. It would seem that once we have our basic financial needs met, the rest is up to us.

Apr 23 2018

16mins

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Rank #7: Ten Questions For Your Financial Advisor

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On this week's episode we review the evidence around whether or not to hire a financial advisor and offer ten questions for separating great advisors from the not so great.

Jun 15 2018

15mins

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Rank #8: James Matthews - Millennial Money Mythbusting

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With all of the negative stereotypes around Millennials and money, it can be hard to separate fact from fiction. Luckily, Standard Deviations is joined by James Matthews, who is just the man for that job. Listen in to learn:

Couples' five most common sources of disagreement about money

Why James and Daniel are not fans of budgeting

How a deeply felt personal purpose can lead to better financial decisions

Jan 31 2019

1hr 3mins

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Rank #9: Dr. Jordan Turner - Understanding the Myers Briggs Type Indicator (MBTI)

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The Myers-Briggs Type Indicator is the world's most popular personality instrument but isn't without its controversies. Loved by loyalists and sneered at by many social scientists, Dr. Turner gives a candid assessment of the strengths and weaknesses of the MBTI and speaks directly to how it can be used to deepen our understanding of self. Specifically, we discuss:

The origins of the MBTI
Common criticisms of the MBTI including validity and reliability
Each of the four personality scales
The ideal applications of personality testing

Apr 08 2019

53mins

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Rank #10: Doug Boneparth - The Future of Retirement

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Douglas Boneparth is an InvestmentNews 40 Under 40 alum, the co-author of The Millennial Money fix, and financial Twitter's resident hair and coffee expert. In this episode, we discuss:

Whether or not online interactions can take the place of "in real life" connection
The case for authenticity and being candid about our own struggles
The changing shape of retirement and what it will look like in the future

So, grab a cup of your favorite caffeinated beverage and join us.

Feb 21 2019

51mins

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Rank #11: The Power of Goals Based Investing - Dr. Daniel Crosby

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The Power of Goals Based Investing - Dr. Daniel Crosby by Dr. Daniel Crosby

Mar 04 2019

56mins

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Rank #12: The Six Signs Of A Financial Bubble

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In today's episode we run through the six signs of a financial bubble.

Sep 07 2018

5mins

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Rank #13: Behavioral Finance And Investment Management - Dr. Daniel Crosby

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A discussion of the 4 Cs of behavioral investment management as found in The Laws of Wealth: Psychology and the Secret to Investing Success.

Feb 25 2019

57mins

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Rank #14: Dan Egan - Good Behavior Through Good Design

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Our guest this week is Dan Egan, Director of Investing and Personal Finance at Betterment. Dan is an expert at improving decisions through smart technological design and he brings that wisdom to a show that includes talk of:

How "centaur" approaches (combining human advisors with tech) are the future of finance

Why investors need to have faith in their own approach

The future of behavioral finance

Whether it is most effective to change the person or the product

Learn more about Dan:

https://www.dpegan.com/

Dan recommends:

https://www.amazon.com/Engine-Not-Camera-Financial-Technology/dp/0262633671/ref=sr_1_1?ie=UTF8&qid=1538390664&sr=8-1&keywords=an+engine+not+a+camera

Dec 06 2018

46mins

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Rank #15: The Psychology Of Investment Momentum

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Momentum has existed for hundreds of years and has persisted for two decades post discovery. This sort of staying power in capital markets full of hungry arbitrageurs is always the mark of human psychology.

Many experts consider momentum to not just be a factor but THE factor. Fama and French don’t mince words, “The premier market anomaly is momentum. Stocks with low returns over the past year tend to have low returns for the next few months, and stocks with high past returns tend to have high future returns.” As James O’Shaughnessy says, “of all the beliefs on Wall Street, price momentum makes efficient market theorists howl the loudest.” In a perfect world, there would be no good reason to pay more for a business today than yesterday simply because of positive price action. But this isn’t a perfect world, it’s a world ruled by human behaviour and thus exhibits all of the attendant quirks.

Like peanut butter and chocolate, momentum and value are wonderful on their own, but even better together. Cliff Asness says it best in his piece, A New Core Equity Paradigm:

“Value and momentum remain the two strongest findings of academic and practitioner research of the last 30 years. While academics continually identify new market anomalies, which purport to offer significant risk-adjusted excess returns, and the Street routinely spins new stories to sell them, value and momentum stand head-and-shoulders above the rest-no other styles have performed so well, for so long, and in so many places. Both value and momentum have long histories of providing attractive returns, have performed well across markets and across asset classes, and have persisted for decades after their discoveries. Importantly, the two strategies perform even better when combined.” Value and quality work, independently and in concert, precisely because they exhibit the three hallmarks of an investable factor: empirically evidence, theoretical soundness and a behavioral foundation.

Apr 16 2018

13mins

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Rank #16: Brian Portnoy - The Geometry of Wealth

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This week on Standard Deviations, Dr. Crosby speaks with Brian Portnoy, Ph.D., CFA, an expert at simplifying the complex world of money.

In his two books, The Investor's Paradox and The Geometry of Wealth, he tackles the challenges of not only making better investment decisions but also how money figures in to a joyful life. He is currently the Director of Investment Education at Virtus Investment Partners and has spent the last 25 years as educator, investor, and strategist.

He holds a doctorate from the University of Chicago and currently lives on the north side of Chicago with his wife and three children.

Listen in to learn:

Why Brian has banished the word busy from his life
The difference between experienced and reflective happiness
The strengths and limitations of money as it intersects with meaning

Sep 25 2018

41mins

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Rank #17: Aaron Klein - New Horizons in Risk Profiling

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Aaron Klein is the CEO and co-founder of Riskalyze, a fintech company that has taken the world of financial advice by storm over the past five years. In this episode, Aaron touches on:

The Riskalyze origin story
Why he favors numerical over psychometric approaches to measuring risk
What the future of fintech looks like
How Riskalyze hires and trains for culture

Mar 21 2019

58mins

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Rank #18: Nichole Mayer - Breaking The Chains Of Debt

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Nichole is wealth management advisor with Westpac Wealth Partners who has 13 years of industry experience. She joins Dr. Crosby this week to discuss the good, bad and ugly of taking on personal debt. Listen in to learn:

How certain types of debt can actually be good
What she thinks can be done about the student debt crisis
Why you might not be able to afford as much home as that mortgage calculator suggests
What to consider when taking on credit card debt

Many personal finance professionals consider "debt" another four letter word but Nichole's nuanced take will give you much to consider.

Aug 22 2019

35mins

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Rank #19: John Nolan - Business Lessons From a Spy

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This week, Dr. Crosby is joined by John Nolan, who may just be the most interesting man in the world. Mr. Nolan is a Vietnam veteran who then spent 22 years in the CIA before going on to found and sell his own corporate espionage firm.

Listen in for fascinating discussion of:

The one skill that separates good from great spies
The surprising lengths to which companies and countries go to steal secrets
How to get complete strangers to share their secrets

Learn more about John:

https://www.expectlittlemiracleshsv.org/

Jan 24 2019

58mins

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Rank #20: Brian Ford - The Eight Pillars of Financial Wellness

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Brian Ford - The Eight Pillars of Financial Wellness

This week on Standard Deviations, Dr. Crosby sits down with financial wellness executive Brian Ford to understand the eight pillars of financial readiness. Discussion points include:

The behavioral benefits of automation
The most ignored source of additional money
The psychological and planning benefits of giving money away

Learn more about Brian:

https://www.momentumonup.com/

Brian's book about the 8 pillars:

https://www.amazon.com/8-Pillars-Financial-Greatness/dp/1432737481/ref=sr_1_1?s=books&ie=UTF8&qid=1538055109&sr=1-1&keywords=brian+nelson+ford

Oct 25 2018

46mins

Play