Monday, November 9, 2015

When Making Financial Mistakes, We Are As Good (Bad) As The Monkeys (Ted Video)

I am sure most of you heard about TED (no, not the foul mouth Teddy Bear movie, I am talking about the Ted Talks, the professional Talks series that sharing the "Ideas Worth Spreading"), I watched/listened to quite a fair bit of Ted Talks and most of them never failed to inspire me.
Recently, I chanced upon a 5-year old Talk by Laurie Santos which is very interesting and relevant to the theme of this blog. Hence, decided to share it here. From the Talk title like "A Monkey Economy As Irrational As Ours", we can deduced that we (as human being) will be compared to the monkeys and the outcomes, like many of you might have guess it : Both human being and monkeys are behaving quite similarly ;-) It introduces a new dimension to the term "Monkey see, monkey do".
The other more interesting part of the Talk is how the researchers mimic the financial market in the context of animals, monkeys in this instance (you do know that monkeys don't use money or bitcoins to buy or trade bananas right?). In the video, she termed it as "Monkeynomics". 
Hope you enjoy the Talk as much as I do:


  1. Hi Richard,
    I am stunned by this coincidence. I just watched this video two days ago and drafted my own blog post yesterday.
    Chirpy Laurie answers mainly three questions in her talk:
    1. Why we save so little
    2. Why evolution is to blame entirely for our stock losses
    3. Why we should think more about our limitations
    For those of you who are short on time, you might want to zoom in directly to the following passages of her talk:
    10.50 min - on Loss Aversion and Relativity Biases
    16.30 min - monkeys are as irrational as humans and this 'trait' is 35 million years old
    18.00 min - biases are really hard to overcome, first step is to understand our biological limitations

    1. Tacomob : wow! What a coincidence! Thanks for sharing slightly more details here. Oh, does it make us "great minds think alike"? Hahaha


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