Terry Burnham's guest appearances

Terry Burnham

Michael Covel's Trend Following

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Terry Burnham is a Professor of Finance at Chapman University, and an author whose works include Mean Genes and Mean Markets And Lizard Brains.But he was also in the military, a former Goldman Sachs employee, and founded a startup; all experiences which lend to his unique perspective on biology, economics, and psychology.In this episode of unSILOed with Greg LaBlanc, we talk about his time at Harvard Business School, using biology to make sense of human behaviors, and the very human concept of privacy, willpower, and more.Episode Quotes:On studying human behavior vs animal behavior:“The idea that we're stupid is just crazy, right? We developed a COVID vaccine in a few months, et cetera, et cetera, et cetera. So humans are super, super, super smart. And any idea that they're stupid is in itself crazy. So the difference between people who study animals and people who study people is that animal people have a better framework. And that framework is grounded in natural selection”On reputation management &amp; road rage:“You have to manage your reputation. You have to be willing to fight for yourself, but not in stupid situations on the road. It's a one-shot interaction. You'll never see that person again. So goodbye. Go ahead. Thank you. You won goodbye. I'll go home to my kids tonight.”On the methodologies of biologists and the methodologists of economists:“What's challenging for economics is that humans live in a very strange world. And that world is so different from the world that we evolved in that most of our behavior looks silly. So when you do maximization models, they don't predict human behavior very well at all because what are we maximizing? No one knows.”Show Links:Terry Burnham WebsiteLinkedInFacebookOrder Book: Mean Markets and Lizard BrainsOrder Book: Mean Genes

Terry Burnham is a Professor of Finance at Chapman University, and an author whose works include Mean Genes and Mean Markets And Lizard Brains.But he was also in the military, a former Goldman Sachs employee, and founded a startup; all experiences which lend to his unique perspective on biology, economics, and psychology.In this episode of unSILOed with Greg LaBlanc, we talk about his time at Harvard Business School, using biology to make sense of human behaviors, and the very human concept of privacy, willpower, and more.<h3>Episode Quotes:</h3>On studying human behavior vs animal behavior:“The idea that we're stupid is just crazy, right? We developed a COVID vaccine in a few months, et cetera, et cetera, et cetera. So humans are super, super, super smart. And any idea that they're stupid is in itself crazy. So the difference between people who study animals and people who study people is that animal people have a better framework. And that framework is grounded in natural selection”On reputation management &amp; road rage:“You have to manage your reputation. You have to be willing to fight for yourself, but not in stupid situations on the road. It's a one-shot interaction. You'll never see that person again. So goodbye. Go ahead. Thank you. You won goodbye. I'll go home to my kids tonight.”On the methodologies of biologists and the methodologists of economists:“What's challenging for economics is that humans live in a very strange world. And that world is so different from the world that we evolved in that most of our behavior looks silly. So when you do maximization models, they don't predict human behavior very well at all because what are we maximizing? No one knows.” <h3>Show Links:</h3> <ul><li><a href="http://www.terryburnham.com/" rel="nofollow" target="_blank">Terry Burnham Website</a></li><li><a href="http://www.terryburnham.com/" rel="nofollow" target="_blank">LinkedIn</a></li><li><a href="https://www.facebook.com/tcburnham" rel="nofollow" target="_blank">Facebook</a></li><li><a href="https://www.amazon.com/Mean-Markets-Lizard-Brains-Irrationality/dp/0470343761" rel="nofollow" target="_blank">Order Book: Mean Markets and Lizard Brains</a></li><li><a href="https://www.amazon.com/Mean-Genes-Taming-Primal-Instincts/dp/0465031242" rel="nofollow" target="_blank">Order Book: Mean Genes</a></li></ul>

Biological Economics and Human Behavior feat. Terry Burnham

Michael Covel

My guest today is Terry Burnham, an economist who studies the biological and evolutionary basis of human behavior. He has a Ph.D. in Business Economics from Harvard University, a Masters from the MIT Sloan School with a concentration in finance. Terry was a professor at the Harvard Kennedy School, the University of Michigan, and the Harvard Business School. His non-academic experiences include working briefly for Goldman, Sachs &amp; Co., being the chief financial officer for Progenics Pharmaceuticals , a start-up biotechnology company, and being the director of portfolio management for Acadian Asset Management, a quantitative equity manager. The topic is his book Mean Markets and Lizard Brains: How to Profit from the New Science of Irrationality. In this episode of Trend Following Radio we discuss:  Burnham removed $1 million from his Bank of America account and said “I don’t trust the banks” The two ways to think about risk Separating the ideas of luck and skill The lizard brain and how it relates back to our choices A story about interacting with Paul Tudor Jones Why markets have momentum The great driver of conformity Rationality and irrationality Captive chimps vs. chimps in the wild and the differences in behavior Predicting when the Fed will step in Thinking of the worst case scenario for equities and looking to Japan for an example Negative interest rates  Jump in! --- I’m MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I’m proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show. To start? I’d like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/ You can watch a free video here: https://www.trendfollowing.com/video/ Can’t get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-ending podcast conversation!

My guest today is Terry Burnham, an economist who studies the biological and evolutionary basis of human behavior. He has a Ph.D. in Business Economics from Harvard University, a Masters from the MIT Sloan School with a concentration in finance. Terry was a professor at the Harvard Kennedy School, the University of Michigan, and the Harvard Business School. His non-academic experiences include working briefly for Goldman, Sachs &amp; Co., being the chief financial officer for Progenics Pharmaceuticals , a start-up biotechnology company, and being the director of portfolio management for Acadian Asset Management, a quantitative equity manager. The topic is his book Mean Markets and Lizard Brains: How to Profit from the New Science of Irrationality. In this episode of Trend Following Radio we discuss: <ul> <li>Burnham removed $1 million from his Bank of America account and said “I don’t trust the banks”</li> <li>The two ways to think about risk</li> <li>Separating the ideas of luck and skill</li> <li>The lizard brain and how it relates back to our choices</li> <li>A story about interacting with Paul Tudor Jones</li> <li>Why markets have momentum</li> <li>The great driver of conformity</li> <li>Rationality and irrationality</li> <li>Captive chimps vs. chimps in the wild and the differences in behavior</li> <li>Predicting when the Fed will step in</li> <li>Thinking of the worst case scenario for equities and looking to Japan for an example</li> <li>Negative interest rates</li> </ul> Jump in! --- I’m MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I’m proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show. To start? I’d like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: <a href="https://www.trendfollowing.com/trend/" rel="noopener nofollow" target="_blank">https://www.trendfollowing.com/trend/</a> You can watch a free video here: <a href="https://www.trendfollowing.com/video/" rel="noopener nofollow" target="_blank">https://www.trendfollowing.com/video/</a> Can’t get enough of this episode? You can choose from my thousand plus episodes here: <a href="https://www.trendfollowing.com/podcast" rel="noopener nofollow" target="_blank">https://www.trendfollowing.com/podcast</a> My social media platforms: Twitter: <a href="https://twitter.com/covel" rel="noopener nofollow" target="_blank">@covel</a> Facebook: <a href="https://www.facebook.com/trendfollowing/" rel="noopener nofollow" target="_blank">@trendfollowing</a> LinkedIn: <a href="https://linkedin.com/in/covel/" rel="noopener nofollow" target="_blank">@covel</a> Instagram: <a href="https://www.instagram.com/mikecovel/" rel="noopener nofollow" target="_blank">@mikecovel</a> Hope you enjoy my never-ending podcast conversation!

Ep. 262: Terry Burnham Interview with Michael Covel on Trend Following Radio