In many episodes of this podcast we refer to the psychological component of investing, and today we are very happy to host a global authority on the subject and share an absolute masterclass about behavioural psychology as it relates to our finances and the decisions we make. We welcome Professor Hersh Shefrin to the show, who is the author of many books including the seminal Beyond Greed and Fear, which he wrote in the last 1990s, and still holds much value and relevance in today's climate. Professor Shefrin is kind enough to share some reflections on how his understanding of the themes discussed in the book has evolved since those days and unpacks some great pieces from the book for listeners to digest. We get into some specific and technical questions about investing, looking at pursuing the alpha, momentum, and index funds, before our guest also weighs in with some broader, more philosophical responses to our queries. The conversation covers the psychological needs of investors, expected returns, and of course biases. Listeners can expect to come away with a clearer and more detailed picture of ideas we often reference, so make sure to join us for this incredible exploration with Hersh. Books From Today’s Episode: Beyond Greed and Fear — https://amzn.to/3E0C5J4 Thinking Fast and Slow — https://amzn.to/3dq37e8 Behavioral Corporate Finance — Behavioral Corporate Finance (mheducation.com) A Behavioral Approach to Asset Pricing — https://www.elsevier.com/books/a-behavioral-approach-to-asset-pricing/shefrin/978-0-12-374356-5 Behavioral Risk Management — https://link.springer.com/book/10.1057/9781137445629 Ending the Management Illusion: How to Drive Business Results Using the Principles of Behavioral Finance — https://amzn.to/3ze05EX Links From Today’s Episode: Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Shop Merch — https://shop.rationalreminder.ca/ Join the Community — https://community.rationalreminder.ca/ Follow us on Twitter — https://twitter.com/RationalRemind Follow us on Instagram — @rationalreminder Benjamin on Twitter — https://twitter.com/benjaminwfelix Cameron on Twitter — https://twitter.com/CameronPassmore Professor Hersh Shefrin — https://www.scu.edu/business/finance/faculty/shefrin/ Santa Clara University — https://www.scu.edu/ Merton Miller — https://www.investopedia.com/terms/m/merton-miller.asp Franco Modigliani — https://www.investopedia.com/terms/f/franco-modigliani.asp Daniel Kahneman — https://scholar.princeton.edu/kahneman/home Richard H. Thaler — https://www.chicagobooth.edu/faculty/directory/t/richard-h-thaler Lola Lopes — https://psychology.uiowa.edu/people/lola-lopes Meir Statman — https://www.scu.edu/business/finance/faculty/statman/ Hendrik Bessembinder — https://wpcarey.asu.edu/people/profile/2717225 Fama and French — https://www.investopedia.com/terms/f/famaandfrenchthreefactormodel.asp Warren Buffett — https://www.investopedia.com/articles/01/071801.asp GameStop — https://www.gamestop.com/ Frank Shefrin — https://blogs.lse.ac.uk/internationaldevelopment/2020/12/10/frank-shefrins-influence-on-the-shifting-paradigm-of-the-world-food-programme/ World Food Programme — https://www.wfp.org/