Navigating uncertainty - Episode 3 | Season2

Nudging Financial Behaviour

In episode 3 of The Nudging Financial Behaviour Podcast, we’re looking at uncertainty and how it differs from risk. This discussion is all about known and unknown probabilities. We also unpack two biases – The Gambler’s Fallacy and The Hot-Hand Effect.

We thought that the best way to really get to grips with these biases was to chat to someone who knows a lot about trading. Our guest is Garth Mackenzie, a prolific trader with plenty of exciting stories to tell about his years working on the markets.

Useful links:

More about Garth Mackenzie:

• LinkedIn - https://www.linkedin.com/in/garth-mackenzie-05115a52/
• Talking with Traders - https://iono.fm/c/4983

Risk, Ambiguity, and the Savage Axioms by Daniel Ellsberg - https://www.jstor.org/stable/1884324

Belief in the Law of Small Numbers but Amos Tversky and Daniel Kahneman - https://www.stats.org.uk/statistical-inference/TverskyKahneman1971.pdf

Be sure to like this episode and hit the subscribe button to get notified when the next episode drops.

You can also read more on our blog: https://www.nudgingfinancialbehaviour.com/navigating-uncertainty/ 

Or watch to the video version of this podcast episode: https://youtu.be/jSbbeBHaW8Y

Special thanks to everyone who has helped put this series together:    

• Our sponsors: IG Markets South Africa    
• Producer: Faeron Wheeler of F Creations    
• Original music and sound mix: Neil Leachman    
• Video and editing: Deetlefs Smith and Matthew Carew 
• Hair and makeup: Ida Webster    
• Set styling: Michelle Murray of Interiors Etc.  
• Voice over: Sizo Mphti