‘Mind Over Money’ Documentary: Why We Make Irrational Financial Decisions
Watch the Nova – Mind Over Money documentary, examining why and how emotions interfere with making sound investment decisions, leading instead to irrational financial choices.
“In the aftermath of the worst financial crisis since the Great Depression, NOVA presents Mind Over Money, an entertaining and penetrating exploration of why mainstream economists failed to predict the crash of 2008 and why we so often make irrational financial decisions. The program reveals how our emotions interfere with our decision-making and explores controversial new arguments about the world of finance. In the face of the recent crash, can a new science that aims to incorporate human psychology into finance—behavioral economics—help us make better financial decisions?”
Originally aired on PBS on April 26, 2010
The ups and downs of the market will always continue, at least as long as markets operate in the current form. In the financial markets there always need to be winners and losers, and crashes are a part of that. No matter what policies are introduced by officials, and no matter what new science reveals about decision-making processes, at the end of the day we are emotional creatures and that emotion drives prices up and then down.
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