Dec 23, 2013
Today on the show is Dan Ariely. Ariely is a professor of psychology and behavioral economics at Duke. He has a bestseller titled “Predictably Irrational”. He has given great TED Talks with millions of views. Covel and Ariely discuss irrationality and rationality on today’s show, including how we make decisions (with often poor processes). Covel and Ariely’s discussion includes the irrationality of fundamentals in equity markets; the wisdom of crowds, constraints and where else our money can go; the awarding of the Nobel Prize to professor Shiller and Fama--two famed professors with very different outlooks--and whether it’s irrational or not; macroeconomics vs. microeconomics; lessons learned during his life-threatening burns; why people lie; why the freedom to do whatever we want and change our mind is the shortest path to making bad decisions; and how 2008 became a constructive tool for Ariely; why Bubbles are some of the most imprecise factors out there; and Ben Bernanke. Want a free trend following DVD? Go to trendfollowing.com/win.