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🚀 Are you degen trader that's down 50% on a MindMed yolo? I'm your stock therapist and I'm here to help you understand your emotions. In this video I go over some basic behavioral economic concepts (like utility theory, risk aversion and risk seeking) and demonstrate how they apply to the psychology of traders using MindMed as a case study.
- What should MindMed investors do now that they're 50% below the highs?
- Why are emotions so much higher with meme stocks?
- Why do we get more skittish as stocks climb higher?
- Why do losses after big wins bother us more than losses after small wins?
- How can we be more rational investors?
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0:00 - intro
1:45 - disclaimer
2:30 - utility theory
5:00 - risk aversion
7:00 - risk seeking degens
11:00 - risk neutral
13:00 - loss vs pain
16:00 - how risk averse and risk seeking investors bet
18:30 - how we feel losses after different sized gains
21:00 - applying these concepts to MindMed
26:00 - so what now?
Disclaimer: This presentation is not financial advice. You should not make any investment or trading decision based on the contents of this presentation. Do not consider anything in this presentation to be professional advice. Brom holds long positions in MindMed as well as other psychedelic stocks.