Ep 421: Bullshift & Bias: The Hidden Forces Sabotaging Your Finances — with John De Goey

Join us for an informative discussion with John De Goey, a professional portfolio manager, published author, and dedicated advocate for financial consumers. John shares his journey into finance, which was fueled by a desire to challenge the "amoral" practices of the financial services industry and protect consumers from misleading information. This advocacy is the foundation of his work and his books, including his latest, Bullshift: How Optimism Bias Threatens Your Finances. We discuss the core problem: both advisors and investors often fall victim to cognitive biases, believing things "for sure that just ain't so".

John explains that the industry benefits from keeping clients "bullish," leading people to ignore high debt, expensive markets, and other warning signs. To combat this, he champions Decision Hygiene—the active process of challenging your own assumptions and priors, rather than seeking out information that confirms what you already believe (confirmation bias). He shares why he transitioned to discretionary portfolio management to prevent clients' emotions from derailing sound investment plans, demonstrating that sometimes, letting a fiduciary make unemotional decisions is the best way to secure a client's wealth. An empowered human, John concludes, is simply one who is self-aware and makes choices based on truth, not just self-interest.

Connect with John:
Website: www.johndegoey.ca
YouTube: Make Better Wealth Decisions
X(Twitter): John De Goey

Let’s keep the conversation going!
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Facebook: Marta Spirk

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