William Green speaks with Emily Haisley, who heads the Behavioral Finance team at BlackRock, the world’s largest asset manager, with $14 trillion under management. Here, she explores the critical intersection of investing & psychology, explaining how she helps elite fund managers identify & counteract their behavioral biases, regulate their emotions, optimize their physiological state, avoid systematic mistakes, & take risks that align with their edge. This conversation offers powerful insights on how to win the inner game of investing. What you'll learn here: 00:00:00 - Intro 00:00:47 - How Emily Haisley became head of Behavioral Finance at BlackRock 00:25:24 - How her team helps fund managers recognize their behavioral biases 00:30:32 - How to counteract a notoriously destructive bias, myopic loss aversion 00:37:42 - Why disposition bias leads investors to hold losers & sell winners 00:42:19 - Why it’s helpful to experience investment pain, not just learn about it 00:51:41 - How investment teams can profit by “beating up” their decision makers 00:55:02 - How the best investors benefit by subjugating their own ego 00:59:12 - What practical steps Emily recommended to one elite investment team 01:12:52 - Why she views “tainted altruism” as “the saddest bias” 01:20:48 - What investors can do to manage stress & its impact on their decisions 01:24:56 - How BlackRock uses AI to simulate decision making amid extreme volatility 01:30:53 - Why she’s learned to embrace uncertainty, false starts, mistakes, & change 01:48:14 - How 3 new year’s resolutions nudged Emily toward a happier life Transcript & Guest Info: https://www.theinvestorspodcast.com/richer-wiser-happier/the-psychology-of-investing-w-emily-haisley/ ▶️ Related Episodes: - A Gambler’s Guide To Investing & Life w/ Annie Duke: https://youtu.be/lIrAtIZcH5o - Thinking Fast & Slow by Daniel Kahneman | Psychological Biases Explained Simply: https://youtu.be/S2UcEwn31os - Making Smarter Decisions & Why Great Investors Are Great Quitters w/ Annie Duke: https://youtu.be/84Uisiv6VVI 📖 Books Mentioned: - The Intelligent Investor by Benjamin Graham: https://amzn.to/4oMkvAe - ⁠On Right Livelihood by J. Krishnamurthi: https://amzn.to/4eAmhzC - Richer, Wiser, Happier⁠⁠ by William Green: https://amzn.to/4w8xXAK Listen to our episodes here: https://open.spotify.com/show/28RHOkXkuHuotUrkCdvlOP Visit our website: https://www.theinvestorspodcast.com/the-investors-podcast-show/ Free PDF: Investing for Beginners: 4 Principles of Stock-Picking: https://www.theinvestorspodcast.com/subscribe-youtube/ ⚠️ Disclaimer: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor's Podcast Network. Written permission must be granted before syndication or rebroadcasting. #BehavioralFinance #InvestingPsychology #BlackRock #ValueInvesting #InvestorMindset