Groupthink Part I: #3

We take a deep dive into the benefits of thinking in groups and how our mental models change through group interactions. Team members can help us to flesh out our mental models in a variety of situations. Seeking multiple opinions can give you a wider perspective, but other people’s opinions can have an oversized effect on your thinking. Benjamin Graham spoke about the quality of your analysis making a big difference, but also that listening to groups can aid you to be a better investor. Psychologists call this process of understanding motivations of others “theory of mind”, or perspective taking. Trying to understand others’ mental models is important because others can be right, wrong, or even misleading. Interested in a master guide to winning the market? – listen in! Groupthink is a rich topic, relevant whenever we work in teams. Team work influences our financial decisions. Keep an eye out for Groupthink Part 2 focused on the specific risks and benefits of working with investment teams. BUY “Understanding Behavioral BIA$” http://amzn.to/2XHtsOE | NEW Behavioral Finance BOOK | Behavioral finance advice and solutions. #mentalModels Behavioral finance advice Visit mentalmodelspodcast.com for more insights. This book will help you overcome the biases that are keeping you from investment success! Authored by Daniel Krawczyk, Ph.D. & George Baxter, JD, CFA your hosts of Mental models Podcast. Published by Business Expert Press Behavioral Finance Book AVAILABLE NOW ON AMAZON http://amzn.to/2XHtsOE Do you want strategies to make better financial decisions? Do you need a translational guide to Thinking Fast and Slow? Do you want to be a better investor and earn more money? If you said yes to any or all of the above questions then this book is for you! #understandingBehavioralbias