A01=John J. De Goey
Author_John J. De Goey
bear market
behavioral finance
behavioural finance
bonds
can you trust your financial advisor
Category=KFCM
Category=KFFM
Category=VSB
cognitive dissonance
decision-making
disinformation
eq_bestseller
eq_business-finance-law
eq_isMigrated=1
eq_isMigrated=2
eq_nobargain
eq_non-fiction
eq_self-help
financial advice
fix my finances
groupthink
herding
heuristics
hubris
Investing
mental shortcuts
motivated reasoning
optimism bias
overconfidence
rationalization
self-awareness
stocks
unconscious bias
understand your investments
value of advice
willful blindness
Product details
- ISBN 9781459750906
- Weight: 340g
- Dimensions: 152 x 228mm
- Publication Date: 16 Mar 2023
- Publisher: Dundurn Group Ltd
- Publication City/Country: CA
- Product Form: Paperback
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People are unwittingly taking risks with their investments by entrusting them to advisers who are biased but don’t know it.
Does your financial adviser tell you to hold on and never sell? That markets recover in the long run? Does your adviser seem to always have an optimistic disposition? Do they tell you not to worry, no matter what is going on in the outside world?
In Bullshift, John J. De Goey explores the hidden relationship between bias and financial markets. He makes clear that investors and financial advisers are not the rational decision makers that economic theory assumes them to be, and that “tried and true” investment advice is not always sound. De Goey shows that advisers are immersed in a culture of Bullshift — they simply don’t realize how their positive outlook on markets is based on industry-wide groupthink.
Unfortunately, this problem affects much more than just your own investment portfolio. After three years of an international pandemic, the full economic impact of the response to it still hasn’t been felt. There’s more pain coming, but the financial industry’s eternal optimism, abetted by government policies designed to consistently encourage growth and avoid tough choices, is walking us toward a cliff for the global economy.
De Goey helps readers understand the subtle but profound challenges of industry bias, with optimism bias as a particularly vexing issue. The next downturn may be deeper than anything you or your adviser has ever experienced. True optimism comes from a shift to unbiased realism.
Does your financial adviser tell you to hold on and never sell? That markets recover in the long run? Does your adviser seem to always have an optimistic disposition? Do they tell you not to worry, no matter what is going on in the outside world?
In Bullshift, John J. De Goey explores the hidden relationship between bias and financial markets. He makes clear that investors and financial advisers are not the rational decision makers that economic theory assumes them to be, and that “tried and true” investment advice is not always sound. De Goey shows that advisers are immersed in a culture of Bullshift — they simply don’t realize how their positive outlook on markets is based on industry-wide groupthink.
Unfortunately, this problem affects much more than just your own investment portfolio. After three years of an international pandemic, the full economic impact of the response to it still hasn’t been felt. There’s more pain coming, but the financial industry’s eternal optimism, abetted by government policies designed to consistently encourage growth and avoid tough choices, is walking us toward a cliff for the global economy.
De Goey helps readers understand the subtle but profound challenges of industry bias, with optimism bias as a particularly vexing issue. The next downturn may be deeper than anything you or your adviser has ever experienced. True optimism comes from a shift to unbiased realism.
John J. De Goey is an author, senior investment advisor, and portfolio manager at Wellington-Altus Private Wealth. With over twenty-five years of industry experience, he is a sought-after commentator, a frequent BNN guest, and a recognized industry thought leader. He lives in Toronto.
