Wealth Advisor Reveals How Money Plays Tricks on Your Mind (Feat. R’ Naftali Horowitz) | Kosher Money Lakewood Event


Think you know money? Think again!

Money has an interesting way on playing tricks on our minds and only those who are either gifted or trained will spot them!

Rabbi Naftali Horowitz reveals what EVERYONE should know.


00:00 Opening Remarks
02:31 Are Financial Behaviors Logic or Gut?
06:33 What is a Heuristic?
10:45 Heuristic #1: Representation Bias
15:54 Rabbi Horowitz’s Favorite Study
18:15 Investing Pitfalls
19:57 Why Affinity Fraud Happens
22:00 Racism and Stereotyping
22:56 Sponsor: Twillory
24:12 Heuristic #2: Mental Accounting Bias
30:00 The Car Dealership Trap
31:55 The 2008 Financial Crisis
34:53 The Lottery Effect
38:29 The Credit Card Trap
39:10 Sponsor: Approved Funding
40:39 Heuristic #3: Regret Aversion
44:32 Regret and Investing
49:16 Sponsor: Colel Chabad
51:04 Heuristic #4: Anchoring
54:52 Anchoring Investing Mistakes
58:04 Recap and Concluding Remarks
1:00:39 Outro

Book Recommendations:

Predictably Irrational
by Dr. Dan Ariely

Thinking, Fast and Slow
by Daniel Kahneman

Why Smart People Make Big Money Mistakes and How to Correct Them
by Gary Belsky

You Revealed: A Torah path to a Life of Success
by Rabbi Naftali Horowitz
(Please note that this book was written predominately for an Orthodox Jewish reader. Due to high demand the book sells out quickly but is usually back in stock within one week.)

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#Money #Podcast #psychology #moneytips #economy

Presented by:
N. Mark Horowitz
Managing Director
Senior Portfolio Manager – Financial Advisor
855 Franklin Avenue
Garden City, NY 11530
Phone: (212) 401-0565
NMLS ID: 2396920

The views expressed herein are those of the author and do not necessarily reflect the views of Morgan Stanley Wealth Management or its affiliates. All opinions are subject to change without notice. Neither the information provided nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Past performance is no guarantee of future results.

This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. The strategies and/or investments discussed in this material may not be appropriate for all investors. Morgan Stanley Wealth Management recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a Financial Advisor. The appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives.

Indices are unmanaged. An investor cannot invest directly in an index. They are shown for illustration purposes only and do not show the performance of any specific investment. Reference to an index does not imply that the portfolio will achieve return, volatility or other results similar to the index. The composition of an index may not reflect the manner in which a portfolio is constructed in relation to expected or achieved returns, portfolio guidelines, restrictions, sectors, correlations, concentrations, volatility, or tracking error target, all of which are subject to change over time.

Information contained herein has been obtained from sources considered to be reliable, but we do not guarantee their accuracy or completeness.

Morgan Stanley Smith Barney LLC. Member SIPC.
CRC 5595118 04/2023

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