Wealth Advisor Reveals How Money Plays Tricks on Your Mind (Feat. Naftali Horowitz) | KOSHER MONEY

Think you know money? Think again!
Money has an interesting way of 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.
TIME STAMPS:
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
If you have questions/feedback to share on this weeks episode, please email [e-mail]
✬ SPONSORS OF EPISODE 57 ✬
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Book Recommendations:
Predictably Irrational
by Dr. Dan Ariely
tinyurl.com/396zu2zd
Thinking, Fast and Slow
by Daniel Kahneman
amzn.to/3OFLzQa
Why Smart People Make Big Money Mistakes and How to Correct Them
by Gary Belsky
tinyurl.com/yc6r9cj8
You Revealed: A Torah path to a Life of Success
by Rabbi Naftali Horowitz
amzn.to/36fxXbK
(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

[@hoopchowder3510]

I’m not Jewish but I have found sound much value in subscribing to this podcast. This is episode was especially insightful and I’m grateful for the content you guys are sharing. Thank u.

[@hoopchowder3510]

So much value !

[@user-vd3pi7fz1j]

Impactful

[@michaelzurek6312]

I know it would be probably hard and near impossible for Naftali to have a podcast channel or make more KZbin videos due to all the work he does at JP Morgan Chase but it's always amazing to watch and hear him speak.

[@otjuve]

we need more of Naftali. May Allah bless him and bless you all for sharing knowledge

[@tavarisjones551]

The field of behavioral economics is fascinating. Great talk.

[@edumendes1965]

Absolutely brilliant!!! I can’t get enough of his teachings!!!

[@drsgopi]

the words of wisdom from Mr.Horowitz outshines any financial gurus out there!

[@Jiggysaw]

GREAT video, Naftali is a legend indeed. I learned so much from this episode, thank you for all your hard work!!!

[@YitzchakHorowitz]

Anchoring has a big effect on people salaries. Often when asking for a raise or changing jobs we ask for an amount based on what we are currently making instead of asking for as much as we think we can get.

[@jesserosado6282]

You all are awesome and I always learn so much from Neftali. I appreciate you for bringing this to us

[@manoloborja388]

I enjoy learning from my Jewish brothers. Very insightful.

[@kevinbarr9933]

Wow, Naftali Horowitz is simply the best I feel privileged to listen to his teachings and one of the best episodes ever! Thank you so very much Indeed!

[@aaronjennings8385]

Let's assume the cost of the ball is represented by "x" in dollars. According to the given information, the bat is $1.00 more expensive than the ball. So, the cost of the bat would be "x + $1.00". Together, the bat and the ball cost $1.10. Therefore, we can set up the equation: x + (x + $1.00) = $1.10 Simplifying the equation: 2x + $1.00 = $1.10 Subtracting $1.00 from both sides: 2x = $0.10 Dividing both sides by 2: x = $0.05 Hence, the ball costs $0.05.

[@estherhersh2217]

I listen to all of Naftali’s video 20+ times - every time I learned something new! I’ve only found about 5 videos on KZbin of him speaking - would love more. keep teaching!!!

[@keonhercules]

I love how he gets more "Brooklyn" as the program progresses! Blessings to Naftali and thank you for sharing your wisdom!

[@durexuncensored]

success comes down how you think

[@gragolawncarepatrick7058]

Naftali thank you for your guidance. We appreciate you greatly!

[@mt8073]

Impactful! Thank you for this enlightening episode!!! Keep up the great content!

[@yonaunger]

Always with new strong points getting better every time. Thank you so much

[@justovalverde2810]

I would like to buy the speaker’s book. Such a great speaker and common sense advisor.

[@steele0strella]

It's amazing how well Naftali Horowitz teaches Torah at the same time as teaching finance! thank you Living L'chaim❤

[@njabulompofu667]

Glad you brought back the video, l have been looking for it

[@421sap]

Amen for the blessings. Thank you, Rabbi. Impactful!

[@jmc8076]

Thank you for always sharing valuable insight on money Naftali and LL team. I watch videos and support those who can build bridges and understanding in humanity now vs further divide. Let’s respect each other’s views and beliefs. We share ~99% DNA incl with all life. Namaste 🙏

[@ambition112]

0:14: 🧠 The speaker realized that studying finance did not prepare them for the irrational behavior of investors and decided to learn about behavioral finance. 6:53: 😮 Our perception can be easily biased, leading to incorrect judgments and decisions. 14:24: 🤔 Representation bias is a common cognitive bias that influences decision-making based on what is visually represented or perceived. 22:08: 💰 The concept of mental accounting and how people make decisions based on different scenarios involving money. 29:26: 💰 Mental accounting affects people's decision-making when it comes to spending money and investing. 35:59: 😳 People often make irrational decisions when it comes to money, prioritizing emotions over logic. 42:26: 💡 Regret plays a significant role in investment decisions, causing people to avoid taking action and leading to missed opportunities. 49:07: 📊 Anchoring effect can lead to biased decision-making based on irrelevant numbers. 55:12: ✅ The speaker discusses cognitive biases that can affect financial decision-making. 1:01:39: 📢 The host thanks sponsors and promotes their products, asks for feedback, and mentions upcoming episodes in Israel. Recap by Tammy AI

[@angusseletto1511]

Very good work 👏

[@JenMarco]

You’re the best!

[@luisarce6234]

Thanks

[@adinoeznite6605]

Listen to naftali is always learning and Unlearning all i know about investing ❤

[@sajjanpaudel2820]

I am glad I found this video.. Thanks a bunch..

[@constitutionalcarrot3720]

Thank the algorithms this was recommended to me. Been binge spending since a death in the family. Advice I needed to hear, even if it wasn’t all the advice I needed to hear.

[@Veganisbadhunter-wx5nt]

Man.... this is awesome. I have thought in my head nearly all of these money mantras/beliefs. It's crazy. A mind melt.

[@nadiaMendizza]

I would like to express my heartfelt gratitude to your channel and for the opportunity to listen to Naftali Horowitz for his captivating and enlightening presentation. Thank you for sharing your wisdom.

[@alex5308]

Naftali is such a great teacher. I love listening to him

[@skqq3250]

Yes he is a great teacher. He dispels are the myths about money decisions. I would like for Kosher money to sponsor a trip to Israel every 2 years with Shalom Tours so everyone can meet up.🎉🎉🎉❤❤❤

[@clintcowan9424]

Impactful. Psychology of money is very important

[@georgeleles3710]

This is the best speech on money that I have ever heard.

[@oceanstateyakfishing]

Thank you for all your knowledge Mark

[@andriimarchuk9649]

One day after video in the morning I realised that I used the similar sign of mental laziness for my interview process. I never realised there such thing exist, and it was still possible to get thru but only by people who love the work and know approaches well. This is such novel information for me. Unknown unknown. Thank you for sharing this video.

[@kalember37]

Outstanding , eyeopening and excelent Thank you .

[@davidbergamelli4773]

Thanks for everything! Wish you all the best.

[@AliEbrahimian]

Incredibly useful speech, thanks for sharing this.

[@144Donn]

Great insight..and actually frightening how gullible the human being can be. But, knowing and being aware of our faults can help us overcome them. These ideas and concepts can be applied to many area of life. The ending about "regret" was one of the strongest messages. Fear really is the only thing to fear...and then walk through. Continued Yeshar Koach for your excellent and I mean EXCELLENT work!

[@hackmedia7755]

very similar to a book called "how to lie with statistics"

[@FilipeCardoso1]

Always good to hear Mr Horowitz. 👍

[@pistopitpit]

Presenting something as a bargain to trick you into buying something is a very easy to spot trick. It is because it’s a well and commonly known sales technique.

[@MTN99999]

Shalom to you all brothers and sisters. Mr Naftali is the real deal and I can attest and relate to everything he said. I have learned to hard way but over the years my mindset about the value of money vs time completely shifted. And until you get that Ahah moment the easiest and simplest things to do are oftern the hardest things to do however all worth it at the end. Good luck to you all and God bless. Shalom

[@andreamorris1789]

Love listening to naftali. This ìs one of the best talks I've heard.😊wish I was younger! Thanks Naftali. Andrea.

[@abr7192]

Love the presentation! Mr. Naftali is my favorite presenter on this channel. He is always very insightful and candid.

[@patrickhemmen]

Impactful. Thanks for bringing Naftali Horowitz back

[@skqq3250]

I listened to him first time on Kosher Money. I never knew his name until today. So so glad for the content. So good!😊

[@davidnkansah6523]

Impactful and insightful!

[@yountune9799]

Thank you for sharing. Information is more impactful because it's given in a speech rather than in written form.... for most of us.

[@Heru2088]

Thank you, For Sharing This Amazing and, Intellectually Behavioral of Financial Literacy very much impress with your Teaching Brother, Thank you Kosher Money., Blessings and, Great Health., to everyone at Kosher Money.

[@miltonmartins8217]

Very Helpfull speech by Mr. Horowtz!!!

[@TomArrrrr]

I stop and listen anytime I see his videos. Thank you

[@raylopez99]

Hey I got the ball and bat one right (I skipped the second one) using algebra. But only because I figured it was a trick question. Haven't done algebra in ages. As for the video, it's old news but vital. Not sure it has practical application however, since people don't easily change their minds.

[@swaucepapi]

The truth in this has offended me but also inspired a change of thought. This was good my boy!

[@jgreaders2451]

Thank you very much for sharing.

[@veritas3179]

Great lecture. Thank you.

[@oldgadfly8398]

...Appreciate his wisdom and insights. (Impactful)

[@cskessler]

Impactful. Thanks!

[@mattadams3315]

Impactful! Thanks guys

[@bogbrither]

A lot of the examples here are from Daniel Kahneman's Thinking Fast and Slow, in case anyone wants to go deeper into the topic.

[@ThaiNguyen-cp1ue]

Very great presentation, thank you so much!

[@KittyNinjas]

Thank you very much for such a wonderful video. So true!!!!

[@hsoley]

great man, thanks for the content

[@Lex41127]

Regarding the Heloc check, I can see why someone would pull the money to have it liquid and pay a "low" interest rate when the bank can close the HELOC anytime.

[@Mllehistoire]

Thank you for sharing, lot of food for thought

[@danmarsh1337]

Solid teaching. I'm sharing this. Great job!

[@jahidmuhammad1428]

Priceless wisdom and very powerful.....

[@et8893]

I had a flooring store, when there were things that wouldn't sell, I would mark it up then put it on sale back to its original price and it would fly out the door. It always amazed me.

[@levelupii4663]

Impactful! 🔥🔥🔥

[@maneshroy4511]

Impactful. Excellent content

[@plato7771]

Very interesting talk. Well done!

[@summertime1977]

Thank you!

[@julietann26]

Thank you for this session.

[@TallerdeVitrales]

Impacful. Thank you very much

[@angusseletto1511]

Lastly thanks Eli,youre invaluable

[@m.showers1242]

Outstanding presentation with valuable content. I learn much and intend to watch again. Thank you!

[@Tealeafsong]

I needed this! Thank you :)

[@MichaelMagestus]

Thank you for this it was awesome

[@vansiam7491]

He is the best money advisor so far

[@johnnymorawski6543]

Love listening to this man talk money

[@scottgreen132]

Wonderful video 🙏🙏🙏

[@randomrickreviewsrrr4662]

Wait just a minute! Did I just find someone telling true facts about money on KZbin? Good stuff.

[@Kakanato]

I feel as i have read one of the books of Dan Ariely. Amazing!

[@AtricanProverblifestyle]

Impactful cant wait to come to the seminars one day

[@S_Edward_Burns_ArtsEditor]

My thanks. Carry on!

[@zawarshah508]

Great insights and excellent advice 👌

[@analia525ana]

Impactful! Thank you!

[@Rentcollector]

To make a long lesson short and to the point, don’t buy single stocks! Buy all in one ETF’s that are covered separately such as jepi, HYLD, svol and fire 🔥 your broker!

[@couldbe8348]

Big mistake

[@MarjorieOcho]

Impactful!!

[@TheWhale1337]

Yup best advice for 95% of investors, but makes very little sense to those who actually understands how to value an asset.

[@SK-ii4yy]

Thanks

[@MrPiedrapiedra]

​@@couldbe8348😊😊😊

[@geffeniz]

Thank you for availing this knowledge 🇰🇪

[@righteousdivine]

👏👏👏👏👏👏 Impactful! ❤

[@YH-ez7qr]

Truly IMPACTFUL

[@alexmoss3228]

This is all from the book thinking fast and slow. Great book

[@Imawarrior]

So much knowledge and wisdom from Naftali, thank you for sharing. God bless!

[@ProfessorMgtow]

This is pure gold🔥🔥🔥

[@frannelwokatega4057]

Great advice

[@mervz2targets361]

Very insightful (impactful indeed 😉)

[@dannyarias8786]

Excellent video!

[@PulpFreePress]

This is a great presentation! Thank you!

[@lunchbox6576]

I wish he would create a recommended reading list.

[@LivingLchaim]

We got you! www.livinglchaim.com/general-5

[@jedidahcmelly4508]

Great list

[@oceanstateyakfishing]

EXTREMELY IMPACTFUL!

[@rootsrawka801]

This was a good one!

[@Don_elCHARTO]

Powerful insights 💯