In investing, biases can manifest in a variety of different forms.

The first step is to recognize that we are all biased and must acknowledge this fact.

As a financial planner, I assume I have a bias.

Typical biases that I solve for are overconfidence, fear of loss, and status quo bias.

There are more, but these are key.

Creating some checkpoints to address the seen and unseen biases is critical.

The best marketers speak to my bias.

If I don't know my own bias, I can't plan for them.

If I can't plan for my own bias, I will likely suffer from them.

What I do is create a decision making matrix. Frame it. And use it.

None of the major wall street firms predicted the financial crisis. Probably, because they suffered from bias blindspot syndrome.

To address biases in business, I must surround myself with people with different opinions than my own.

Tune in today if you want to learn more about bias and investing decisions...

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