More Money Podcast - From the Archives: Relistening to Daniel Crosby Discuss Being a Behavioural Investor

Episode Date: November 13, 2025

There's a lot more to investing than math and strategies. In fact, some would argue that behaviour is a bigger indicator of how good an investor you are. This is what I discuss in this episode with Dr. Daniel Crosby, a prolific psychologist, behavioural finance expert and author of several books, including The Behavioral Investor.This episode originally aired on December 4, 2019.To find the original show notes for this episode, visit jessicamoorhouse.com/218Follow meInstagram @jessicaimoorhouseThreads @jessicaimoorhouseTikTok @jessicaimoorhouseFacebook @jessicaimoorhouseYouTube @jessicamoorhouseLinkedIn - Jessica MoorhouseFinancial resourcesMy websiteMy bestselling book Everything but MoneyFree resource libraryBudget spreadsheetWealth Building Blueprint for Canadians course Hosted on Acast. See acast.com/privacy for more information.

Lou, Lulu, and welcome back to another re-listen episode of the More Money Podcast. Hey, I am your host, Jessica Morehouse. Welcome back to the show. And I'm so excited you're joining me to re-listen to another really special episode. And I'll explain why. This was my first interview, I think my only interview with Daniel Crosby. I feel like I've talked to him since then. But I can't. Time is weird. I don't know. Anyways, I recorded this episode in December 2019. And he is a behavioral finance expert, an author of multiple books, including the laws of wealth, the soul of wealth, and the behavioral investor. And that's kind of the book that we focus on in this episode. What's crazy, though, is I can't even remember how I got him on the show. It could have been his PR team reached out to me and I'm like, oh yeah, absolutely sounds really interesting. And he was such a fascinating guest and just knew so much. And it got me really interested in the world of behavioral finance. Cut to. however many years later, I guess 2023 when I was writing my book. And part of his book,

the laws of wealth, because I've read that and the behavioral investor, but the laws of wealth specifically really spoke to me. And I quoted part of that book in my book. And I wouldn't have had that section in my book, which is so important in my book, if I had never discovered him and interviewed him on my podcast. I don't know if that's really special to you, but for me, I was just like, isn't that crazy how things work out? Who knew that all these years later that, you know, there would be a connection there in my book anyways. But he is someone that I still continue to follow everywhere on LinkedIn, especially. He's very active on LinkedIn as you do. He's got 24,000 followers on LinkedIn. That's crazy. And he, you know,

we just have a really great episode about how behavior is really kind of sometimes a thing that most people ignore when we're talking about things like investing. People are always talking about, well how do I you know build wealth and how do I do this how sometimes it's not about the how sometimes it's about the why why do people do what they do why do people you know make choices that are very questionable is because we're human and behavior is a big component and we cannot ignore that because if we do we're just going to be in a cycle of you know repeating mistakes and so you're going to love this episode and it's going to get you all interested in the world of behavioral finance which I am still so fascinated about.

I did a whole course on it while I was writing my book. That's how fascinating and really wanted to integrate that into my book. I have a whole chapter really on behavior. So you should check that out. Everything but Money is my book. But great interview with Daniel, super, super smart. I think he has a PhD, so he really does know what he's talking about. So you're going to love this episode.

So with that, let's re-listen to episode 218 with Daniel Crosby. Thank you so much, Daniel, for joining me on the Mo Money podcast. My pleasure. Thanks for having me. I'm so excited to have you on the show because, surprisingly, after over 200 episodes, I haven't had an expert to talk to me about behavioral finance, which is becoming, I'd say, you know, more and more talked about, more popular. Still, there aren't a ton of people that, like, dedicate their whole career to that, which you obviously are the expert on it. So you just came out with a book called The Behavioral Investor have several other, you know, bestselling books

about this and you're a psychologist and a behavioral finance expert. So if I wanted to talk to someone about this topic, you would clearly be the worse into do so. Yeah, I, there's a couple handfuls of us. But yeah, it's funny. I told someone on a plane, a woman, you know, I sat next to one, a plane, asked me what I did. And I told her, and she's like, that's not a real job. And so there's, there's few of us that there's few of us that people don't even recognize it as a real job so oh my gosh well how did you so you are you have a doctorate you're a psychologist how did you become kind of focused on behavioral finance specifically well it's interesting my dad is a financial advisor and so i think the seed was planted long ago i grew up around the dinner table you know

talking about how to evaluate stocks and how to invest in the power of you know watching your money grow. So I grew up sort of steeped in it in that respect. But, you know, like you said, I entered school to be a clinical psychologist and indeed my degree is in clinical psychology. But really, the long story short is I just burned out on doing clinical work. I just, you know, the prospect of having to talk to, you know, 40 or 50 people each week who were just having such a hard time was wearing on me as well. I was really taking my work home with me. It was stressing me out quite a bit, and I just found it difficult to be as engaged as I needed to be. And so I said, you know, I love human behavior. I love psychology. I love thinking about why people

do the things that they do, but I need to find sort of a non-clinical, less stressful way to this interest. And, you know, long story short, found my way to this weird little part of the world. And it's been a fantastic career. Yeah. No, absolutely. And it's so fascinating, because I think especially when we're talking about investing, it's like you cannot talk about how to invest or what you should know about investing without talking about behavior, which I think is a very important element, but missing element that a lot of people just like, I don't know, just kind of skate on by after and they just don't pay any attention to, which I think is a very big mistake because you're not really, you're just talking

about it in theory. You're not talking about it in practicalities or, you know, taking action on it. And I've definitely experienced it. I see other people, you know, investing and I can see those behaviors. So I kind of want to dive into, can we just define. If anyone's never heard of the term behavioral finance, what the hell does that mean? Yeah, so here's what the hell it means. It's the art of investing that accounts for human behavior, right? So a lot of the traditional theories of investment management, theories of econometrics, all define humans or account for humans as acting in entirely rational, predictable ways. And of course, you know, we know that that's not true. You don't have to observe your own behavior or the behavior of those of the behavior of those are.

around you for very long, especially around money, to know that we don't act in perfectly rational, predictable ways. So behavioral finance is basically just finance that tries to account for the messiness of the human element. That's all it is really. Yeah. And so this isn't something, you know, I think a lot of people have the idea that if you, you know, are like a finance expert or an advisor or someone who has a lot of experience that this isn't something that, you know, you have to worry about. It's just for people that don't know what they're doing. But really, this is a problem for everybody because we're all human. Yeah, what's so fascinating to me is it just like, just like so many things, you can know the right things to do and then, you know, not do

them. I wrote a blog post a while back about driving by the hospital and driving by the hospital and seeing 13 doctors and nurses out in their scrubs smoking in front of the hospital. And you're like, what? Like, you know, if anybody knows about the dangers, the medical dangers of smoking, it's a doctor or a nurse, and yet here's all these people doing it, we find the same thing with investment professionals, actually. The research is pretty unequivocal that people who work with a professional do better than those who don't. So there's lots of evidence that, you know, you working with an accountant or an advisor can have some really beneficial elements to your life, but that those professionals make poor decisions with their own money.

And so, like, oftentimes, even, you know, even if we're a pro, we're in a position to help other people make good choices, but the decisions that we make are suboptimal. You know, you see this all the time with nutrition, you know, you see this in love and romance. You know, you're able to give your friends clear-eyed advice about who they should date, and yet your own dating life is a mess. Like, you know, this is just a yet another sort of domain in which behavior. behavior is way more important than knowledge. And so what are some of, I guess, the behaviors that, you know, in your research and

talking to so many people, what are some of these like very common behaviors you see with investors? Yeah. So what I did in the behavioral investors, I took the universe of, you know, call it investor misbehavior, which is like 177 different biases and sort of cognitive shortcuts that I found in the literature. and I looked at them and I said, you know, what are sort of the common psychological tendencies that undergird all these nearly 200 ways that you can screw up your, you know, your financial life? And I shook out four that I thought were highly predictive that covered a lot of the waterfront. And so they were ego, emotion, attention, and conservatism. So you can talk about them, you know, however much you want. But ego is basically, you know, overconfidence. Emotion is just what it sounds like. like the tendency to go with sort of the heart over the head when making financial decisions. Attention is this idea that things that are scary or lurid or sexy or different kind of

stick out to us more than they should. And so we make decisions basically not around how likely something is, but how lurid it is or how sensational it is. And then conservatism is this tendency to just confuse things that we know with things that are safe or to to sort of ride with the status quo. Yeah, absolutely. And yeah, when I was going through your book and looking at those, I'm like, yep, I, those are all very familiar to me. I feel like the one that probably gets the most attention is emotion.

People talk about that all day long about how when you're investing, it is actually more emotional than people realize because it's like, well, it's your money. It could be potentially your future, happiness or. It could be your retirement. And so a lot of people, I see this specifically too with millennials, which is surprising because we're a younger generation. However, I see because of the emotion part of it, a lot of millennials are afraid to even start investing because of fear and just all these, you know, they just can't, you know,

they're just like stuck basically. They're almost paralyzed. And so they just don't start, which is what I'm trying to help people, like hopefully having this podcast and having people like you on to help them kind of get over that fear. So do you want to talk a little bit more about that emotion behavior? What's involved? Maybe some people will be able to identify some characteristics that they're like, oh yeah, that's me. Yeah. So first I want to speak to sort of the importance of the service that you're providing here by helping people get started. You know, that's actually related to one of the other biases

I mentioned, which is conservatism. And, you know, a tendency we have, is to, you know, an object at rest tends to stay in rest and an object in motion tends to stay in motion. And so, you know, someone who's investing tends to keep investing and someone who's not started tends to keep not starting, right? And so it's funny that we can take these biases that sound bad on their face, right? Like this tendency to be prone to the status quo. And if we're smart about it, we can make them work in our favor. We can listen to your podcast. We can get started and we can lock that in place so that, you know, this tendency to be prone to the status quo can actually work for us. But, you know, to your, to your emotion question, it's tricky for us to

overcome because, you know, a lot of what I talk about in the book is some of the evolutionary roots of the behaviors we observe in modern day investors. And emotion was really, our first, you know, risk tolerance questionnaire, you know, back thousands of years ago, before there were formal ways to assess risk. You know, your gut was the best thing you had. And in many parts of life, your gut, you know, can lead you to the right place. And yet investing in particular, we're not very set up for it. Because your gut is reliable when you get rapid feedback and when that feedback is easy to sort of break down. Markets aren't like that.

You could buy Apple stock today, and you couldn't really say for years and years and years whether or not that was a good decision, right? Because, you know, it might go down today and you go, oh, well, that was dumb. Well, you know, maybe not. It might be up 300% in two or three years. You just don't know. And so the way that capital markets work, the way that investing works, emotion doesn't tend to be a very good indicator, but there's a lot of reasons why evolutionarily

we still want to fall back on emotion because it does work other places. Yeah, no, definitely. And I want to talk a little bit more about conservatism because that's not something that I've really heard about, but it did make a lot of sense. So I was watching this video and researching you and someone like made a video reviewing your book in depth, which I thought was very interesting. And they're talking about that conservatism can kind of look like we prefer either the devil we know or we tend to hold on to losing positions because we're still very familiar with that position. We're like, well, maybe it'll go back up. Do you want to kind of talk a little bit more about what conservatism can look like so people can identify it when they're doing it? Yeah, there's a couple of good examples, right?

So one is what's an investing called home country bias. So I'll pick on the U.S. because I'm American. We have the same thing here in Canada. That's for sure. I lived in Canada for three months a couple of years ago, and I lived in Western Canada and had the time of my life. And I definitely saw the same thing in Calgary that I observed here. But I'm not Canadian and I would never pick on Canada. So Canadians are too friendly. They would just, you know, they would take the good natured ribbing in stride. So I will pick on the US of A instead since

that's where I'm from. So America makes up about half of the worldwide equity market. So if you look at like all the size of all the stocks in the world, about half of them come from the U.S. And yet the average American investor tends to have about 85% of their equity exposure to U.S. stocks. Now, the U.S. is actually the least dramatic example because it's the biggest stock market in the world. If you look at Canada, right, which I'm not picking on Canada, but Canada is about, you know, Canada is about 4% of the world equity market. And so if you're a Canadian and you're holding, you know, again, 60, 70, 80% Canadian stocks, you actually have a very, very limited exposure to the worldwide market.

But the reason you're doing that is because it feels safe. You go, oh, you know, I know RBC. I know Scotia Bank. You know, I know all these, all these companies because I see the billboard. and I'm, you know, I know someone who works there. So it feels safer. But what you're actually doing is not giving yourself broad enough exposure. And, you know, we even see this regionally within the U.S. You know, parts of the country that have a heavy exposure to agriculture. People in the Midwest tend to be overweight farming stocks. People in the northeast where there's a lot of financial hubs tend to be overweight financial stocks. And this is really like double and triple loading risk because, you know, if you live in New York, you know, your housing is already tied to the financial sector. Your job is tied to the financial sector. Now you're going to put all your, now you're going to be overweight financials in your, in your holdings too. Like you've,

you've basically triple loaded the deck because it feels safe, because you know it. So we really have to fight this tendency to buy what we know. And in a weird way, buying what you don't know is is better advice than just, you know, loading up on the stuff you're familiar with. It feels like lots of the advice we've gotten in the past is like, do what you know or buy what you know. So you're just like, that may not actually make sense, but it comes to investing. Yeah. You know, I coined this phrase, Wall Street Bizarro world in my, in my previous book, The Laws of Wealth. And I just talk about all the ways in which the best investing advice makes no sense in any other context. You know, an easy example is,

you know, is activity. You know, if you want to get more fit, you should spend more hours in the gym. If you want to get smarter, you should, you know, spend more time with your nose in a book. But across 19 different countries, every, in every country that's ever been studied, the more you trade, the worse you do. And so, you know, in every other place in your life, if you want more of a good thing, you need to invest more time in it and investing, you just need to like, go away. It's a, you know, it's a weird, weird piece of advice to try and follow, though. Yeah. And I recently also saw that there was a video online of you doing a keynote for FinCon 2014. I think I was there, but I can't remember. It seems like a little while ago. But I go to FinCon like every year. And it was fascinating because you did talk about a lot of the stuff. But you talked about what really kind of hit home is people have an issue with the idea that investing like, you know, kind of like a smart way to invest is very, very simple. Like it's not overcomplicated. You know, need to make that many trades.

You just invest in, you know, index-based products and you'll, you know, probably hit your targets. But a lot of people just, you know, it's very simple information that they have a really hard time digesting that and believing that. Why is that? Well, you know, we think that a complex dynamic system like the stock market needs to be met with an equal level of complexity. But that's, you know, again, not the case. if you go back to your statistics class from college and you think about this concept of overfitting, you know, the more variables you have, if you regress them all against each other, and I mean, the stock market has effectively infinite number of variables that impact, you know,

everything from, you know, weather to every, you know, weather to all the economic indicators to, you know, the health of a citizenry and everything in between, if you regress these thousands and thousands of variables against each other, you're going to get lots of sort of stuff that looks important that's just screwy and unimportant. So there's a great, you know, there's a great example. There's a 96% correlation between the production of butter in Bangladesh and moves in the U.S. stock market. Like, it's just the total statistical artifact, you know, but if you, but if you were trying to, you know, approach this from the level of complexity, um, you find stuff like that that's meaningless. Meanwhile, simple approaches like taking a multi-asset class approach,

keeping your fees in check, you know, not being overactive, something like that, you're going to beat 90% of the hedge fund gurus with their, you know, with their million dollar computers. It's a very, again, it's Wall Street Bizarro world that less is more. Yeah. And I feel like I also come, you know, I talk to lots of other finance experts or, you know, go to events and people that work in finance. And there's almost this idea. And I think this probably falls into the ego category where they have this idea of like, oh, yeah, you know, index investing or, you know, just keep it kind of simple is great for like the average person, but I'm not average. I'm an expert. I'm advanced level. And so that means things are a bit more complicated.

Is that probably what the ego thing is probably about? Yeah. Well, it is interesting. So if, you know, if taken to its extreme, if everyone indexed, indexing would cease to work, right? Like if everyone indexed, indexing would cease to be valuable. And so you hear criticisms like that, which are true in theory, but I'm not very worried about them in practice because of overconfidence, because there are still so many people out there who are like, nope, I can beat this, I can do better. I need to be more active. I'm going to keep my, you know, my finger on the pulse of this. And so, you know, that's not wrong. I mean, you do need some level of active management to serve as a price discovery mechanism. People who are actively trading and even shorting stocks do a service to keep markets robust. But those of us who are not that interested in that can kind of get a free lunch by just diversing. diversifying, keeping our costs down, and, you know, letting other folks, let other folks bang their head into that wall. And you can do quite well and not work very hard at it. Yeah, that's kind of my thinking too. Because, yeah, I hear that argument all the time. It's like, well, if everyone index invests, then, you know, we're all screwed. I'm like, I don't think that'll ever happen. If you've met any person who is really into investing, they do not like indexing. Like, they find it too boring. They want something a bit more exciting. And I, uh,

recently, like, just binge watched the show that's on Amazon Prime. What is it called? Like Jack Richard, or Jack Ryan or whatever. And it has nothing to do with investing. However, there was a weird scene where they were on a boat. They were on some investigative mission. It was all very exciting. And there's lots of action.

And then someone said, oh, if you want to do something, you know, boring. If you don't want to join us, then just go buy an index fund. And then they all laughed and then, like, continue to want their adventure. And I'm like, that's actually good advice, though. Yeah. Yeah, but if you're an international, international spies are the ones that are that are making active bets there. I know, I know. I just thought that was so funny.

I'm like, oh, people are going to watch it. They're like, yeah, index funds, I'm like, no, no, no, no, they're really great. But it's okay. It was a good joke. But another thing you mentioned was the attention behavioral risk, which I think we see that all the time, people paying too much attention to the news or paying too much attention to their friend who's like, hey, have you seen this? Do you want to talk a little bit about that? Yeah, so that's definitely a part of it, right, is letting the news creep in. I think in the U.S. right now, we're in a time where there's a highly polarized political climate. I know that's certainly the case in Western Europe. I know Canada has had some rumblings in that direction as well. And so I see a lot of that. I see a lot of people investing alongside their politics or alongside things that they wish were. true that perhaps are not. You know, another piece of attention is just letting things that are

sort of noisy overrule our process. And so you have seen for over the course of, you know, what's been a wonderful 10-year market, you have seen every couple of months some profit of doom coming out saying, you know, this is the end and, you know, the sky is falling. And people read these things and they get scared and they, you know, they make decisions. based on this. I forget who said it, but, you know, much more, much more money has been lost preparing for corrections than in the actual corrections themselves. And yet, you know, events like the Great Recession, events like 2008, 2009 are so dramatic and they stick with us that we spend a lot of time focused on this thing that doesn't happen all that often

when we should really be focused on things like, again, are we appropriately diversified? Are we working with someone who can, you know, help us manage our taxes and stay the course? Are we, you know, are we keeping our fees where they need to be? All these things are much, much, much more predictive of whether or not you cross the financial finish line than something like your ability to time the next recession. So that's sort of attention in a nutshell. And yeah, I hear that too. I actually recently did a workshop. And afterwards, there's this young guy who's still in university came to me.

And he started, you said, you know, started learning about investing. And he was so, he was like, it is 20s. And he was so worried about the next recession. He's like, I don't want to start investing now because I'm afraid I'll lose some for the next or should I just wait. So then I can pile all the money when that recession happens. I'm like, no one has a crystal ball though. No one knows when it's going to happen. So don't, because I see that all the time people wait years to get started or to pile a bunch of money into their investments because they're waiting for that correction. But, you know, in my personal experience, when there is a correction, it's very difficult for me to actually pile money into my investments. I'm just like, my gut is like, don't, you're losing money. Don't lose more. And so for me, the most I can personally do just based on my own like wrist tolerance and my own behaviors is actually do nothing. That's the only thing I can do to not like lose all my money. So I'm sure you come across that scenario quite a bit.

Yeah, you know, you do. And you make a great point there, which is everyone you talk to, Everyone I talk to says, you know what, I'm cautious right now, but the next time there's a 2008, 2009, I'm going to be buying stocks with both hands. And every time I say to them, no, you're not. Because all of the research, you know, all of the research points to how influenced we are by externalities, like externalities like what the market's doing, externalities like what we're watching on TV, what people at parties are whispering about. All of this is, is, is, is, profoundly influential on our behavior, and we have this restraint bias, which is we think that we can, you know, walk through the fire and make the right decision, but it's much, much, much more predictive of your success to just have a program, to just have a dollar cost averaging program where every, you know, every month, you just set aside a little money, you know, whether the market's high, low, or in between, that's much, much, much more predictive

of your success than something like you timing the next recession and then having the courage to throw your money into what seems like a wood chipper at the time. So, you know, much, much, much better program to just sort of stay the course and to have a have a process monthly. Yeah, yeah, no, absolutely. So since we talked a lot about those behaviors, and we've kind of touched on some of the kind of solutions or things that people can do to kind of not just fall into those traps, Let's kind of go through some of them. I wrote some notes just based on some information. I kind of gathered on you. So if you feel like you are kind of succumbing to that ego behavior, what is something you can do to kind of mitigate that?

So the first thing you need to do to become a great behavioral investor is to realize that you're no different than the next person. Like you're no, you know, you're no lucky or you're no more special. You're no better at timing the market or picking stocks than the next person. And once you realize that, you begin to have the sort of humility that's required to do the right thing. So in terms of keeping ego in check, like I think, you know, something like reading a book like mine and seeing, you know, just how bad most people are at this helps. I think working with a professional who can, you know, kind of help keep you in place can help. And I think that keeping, you know, keeping the money out of your reach to an extent can help too. you know, just the same way that someone on a diet shouldn't, you know, keep cookies in their

cupboard, I hire a financial advisor to sort of be a wall in between me and in poor choices. And I mean, I should know better than anyone, you know, having written all these books on this stuff, like I should know better than anyone. And yet I know that if I had all my money in, you know, in an e-trade account, that I could access hourly, I would be making all sorts of dumb decisions with it. So you need the right, you need the right environment as well. So I guess that's kind of just a word of caution for anyone doing DIY investing. It's like if you know that you're not the type of person that will be able to kind of

not go crazy if there is something that happens in the markets, that maybe DIY investing isn't the best because there's too much easy access to your money. So here's what's funny, though, because, you know, we, It's the best time in the history of the world to be an investor. You know, investment product is cheap. Technology is fantastic. So in some respects, it's never been easier to be a DIY investor. And yet, most DIY investors, the research shows,

handily underperform those who work with professionals, even though the professionals are charging a fee. So that's where you have to be careful. And paradoxically, if you're, listening to this and going, oh, no, I'm totally, I've totally got this under control, never a worry, I've got this in hand. You're probably exactly the wrong person to be a DIY investor. It's actually, you know, you're suffering from that ego bias that we talked about. It's the person who heard you say that who went, hmm, maybe, maybe that's me that might actually

be okay to do with themselves. So it's very, again, very paradoxical. And, and technically, it's not, it's sort of simple but not easy, right? We've got all the technology to do it ourselves in many respects. And yet most people don't and most people can't because of the behavioral impediments. No, absolutely. And I think that's like my husband's a DIY investor and he has a, yeah, basically we do a monthly kind of, you know, money checkup, you know, see what's going on with their money. And every time he looks at his portfolio and he's basically, I'm that person to be like, don't touch it. So maybe you need an accountability part of your DIY investor, be like, don't do anything. That's right. So talking a little bit more about conservatism, what are some

things that people can do to make sure they don't kind of fall into that trap as well? So conservatism, you know, by what you don't know, diversify away from your career in your geography and make sure you have exposure to the U.S., to things outside of the U.S., to fixed income, to treasuries, to, you know, to real estate, to all sorts of different asset classes, you know, some of which you may not be very familiar with, but it's easy to get cheap exposure to all sorts of asset classes now. So those are the biggest things. And sort of, you know, advice that cuts across all four of these, you know, I talk about these three E's and we've touched on them a bit, you know, today. The first is education, right? So you need to teach yourself what you know.

You need to know the basics. And then more importantly, you need to know what you don't know. So education is sort of the foundation. The next thing you need is the right environment, which in this case is the right portfolio, right? you need a portfolio that's suitable to your risk tolerance, so it won't buck you off the ride. And then finally, you need encouragement. You know, for your husband, that's you. You're that encouragement.

You're that voice of reason when he wants to, you know, when he wants to make a poor choice. It could be an accountant. It could be an advisor. It could be a partner, whoever that is. Even if you're in the right portfolio, even if you have the right education, there's going to be moments in time. where you're going to want to do the wrong thing and you need that coach in your corner, whoever that is for you to help keep you on the path. Absolutely. It is, yeah, just like we've talked about, it's investing isn't as simple. It's just like numbers and just knowing what you're doing

and having a plan. It's the human in us that messes it all up and makes it more. Just, yeah, like you said, it's easy but not simple or simple but not easy. One of those. Yep, simple but not easy. There we go. Well, I'm not going to, to go through the other two because I know the answers are in your book. So people will have to go check it out and grab it. I really appreciate you taking the time to chat with me. You are such a wealth of knowledge. And I, yeah, I feel like everyone needs to know about this stuff on top of all the kind of theoretical and strategy kind of components of investing. So I appreciate you taking the time to chat with me. And where can people find more information about you and grab a

copy of your book? So the easiest place is on Amazon. The books are called The Laws of Wealth and the Behavioral Investor. I'm active on Twitter and LinkedIn at Daniel Crosby on Twitter. And I have a podcast called Standard Deviations where I talk all about behavioral finance. So people can dive really deep and just listen to this on their, yeah, I love that. I love it. Thank you so much. It was a joy. Thank you so much. And that was my episode with Daniel Crosby, Ph.D. He's a psychologist and behavioral finance expert. He works at Orion Advisor Solutions, but he's an author of four different books. You should check them all out, quite honestly. But, you know, in order of when they came out, there's the personal benchmark from 2014, the laws of wealth, 2016, the behavioral investor 2018, and his recent book, The Soul of Wealth came out in 2024. So lots of a books to check out after this episode if you are so inclined. If you wanted to check out the original show notes for this episode, you can. All you have to do is go to Jessicamorehouse.com

slash 218. Take you right there. And then you can find kind of some links and stuff about Daniel if you want to. And if you were kind of curious more about my take on money and behavior and how that's wrapped up into our relationship with money, make sure to check out my book, Everything But Money. I have a whole chapter called You're Only Human. about all the ways behavior really kind of gets in our way when it comes to money management, when it comes to spending, when it comes to investing. It's crazy what our behaviors, our biases, the heuristics of it all, really have a big impact on our financial futures. It's not just dollars and cents and math and money. It really is human behavior. It's such a big component that

I feel like only now we're starting to pay more attention to. my book if you did want to grab a copy it's available in paperback audio book i am the narrator and digital ebook and if you wanted to access some free book extras you can find them at jessicamorehouse com slash book more information on there and to get them for free you just have to give me a rating or review on whatever platform you like and there's all the details on there it's super it's take you two seconds it'll help me get the word out because as people judge books based off how many reviews they have. Yeah, that's just what people do and helps you because you'll get access to all these extra videos, audio workshees that I've made specifically for readers of my book,

everything about money. So make sure to check that out. Now, that's it for this week. But next week, I will be back next Wednesday with a new guest on the show. It is going to be the author Nick Woolney. He just came out with a book called Money Proud, The Career Guide to Generate Wealth, Slay Debt, and Build Good Habits to Secure Your Future. Can't wait to have him on the show, and I will be giving away copy of his book, as I love to give away books, spread the joy and get some good karma back, hopefully. But currently, I'm also giving away a copy of Rose Hans book at zero. I will be continuing to add books to the contest page throughout this season as I book guests and know who the hell I have on the show. And you can find all the details for that at

Jessicamorehouse.com slash contest. So check that out. Otherwise, you know, follow me on Instagram. if you're not already following me, you can find me at Jessica I. Morehouse. And of course, I am putting out new videos every week on my YouTube channel, Jessicamorehouse.com slash YouTube or just Google Jessica Morehouse in YouTube. I'm your gal. I'll be right there, number one listing. Because who has this last name? I've only met one other person who was not related to me with that last name. And it was a shock being like, is this for real or is this, am I getting punked? No. Same spelling and everything. Crazy. There are other more houses out there apparently. Anyways, that is it for me. Thank you so much for listening. See you back here next week. Enjoy the rest of yours. See you soon. The more money podcast would not be possible without the amazing talents of podcast producer Matt Riteout, who you can find at m rav canada.com.