Alex Edmans is an economist and Professor of Finance at the London Business School. His book ‘May Contain Lies’ is about how our biases are exploited and what we can do about it. You can get Alex's book here: https://www.amazon.com/May-Contain-Lies-Statistics-Biases_And/dp/0520405854 🤝 Improve your finances with our adviser service - book free consultation: https://makingmoney.email/financial-advisors-video 🎉Sponsors Vanta - Get secure and compliant with $1k off: https://vanta.com/makingmoney Manual - Get help with your hair loss with 55% off using the code ‘MM55’: https://makingmoney.email/ukb43j ✉️ Newsletter If you want a summary from this episode in an easy format, please subscribe to our newsletter: https://makingmoney.email/S4E3 Disclaimer: This is not financial advice. The reason it’s not financial advice is because it’s not tailored to you. We explain the principles of building wealth but if you want personalised advice, it’s worth speaking to a financial advisor. As with everything financial, please do your own research. We really encourage that because no one cares more about your money than you and if you learn the basics then it will change your life. Chapters: 00:00-00:37 - Intro 00:37-04:26 How misinformation affects our money 04:26-08:24 Why having the facts isn’t enough 08:24-13:04 - The impact of social media 13:04-13:55 - Vanta ad 13:55-19:37 - Why the 10,000 rule is wrong 19:37-23:41 - Be aware when you agree 23:41-26:09 - Practical tips for avoiding bias 26:09-30:48 - The dangers of data mining 30:48-31:41- Manual ad 31:41-35:35 - Misinformation is all around us 35:35-44:35- Seek out arguments you disagree with 44:35-50:18 - Keeping your finances bias-free 50:18-54:37 - Should we bin the ESG label? 54:37-01:02:08 - How we can fight misinformation 01:02:08-01:02:35 - Outro