Psychology is Key to Investing, says Nobel Prize Winner

Daniel Kahneman explains how tools such as using "regret proof" planning can lead to better investing

Morningstar News Team 18 June, 2018 | 2:20PM

The Investing Brain

Finding out how people tick is a vital part of the investment process, Daniel Kahneman, Nobel laureate and author of Thinking, Fast and Slow, told the 30th annual Morningstar Investment Conference in Chicago.

He had this advice for financial advisers hoping to steer clients towards reaching their investment goals: "You need to find out what the client's dreams are, what their fears are. And when bad things happen, you need to be there to help people stay on course."

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