Magazine : Archives : 2nd Quarter 2020

How Behavioral Finance Can Save Banking

In 2010, a 26-year-old graduate from the University of Southern California, Morgan Housel, attended an investing conference in Vancouver, British Columbia. It turned out to be a life-changing event. Housel recalls a presentation on behavioral finance by Barry Ritholtz, a prominent author and founder of Ritholtz Wealth Management. “All I could think was, ‘I want to do that.’ I wanted to speak at conferences,” he wrote years later. “But I knew I couldn’t. It’d never happen.” Housel is one of the estimated 1% of adults who stutter. “When I stutter, I can’t even say the word in my head, let...