How Not to Be Your Own Worst Enemy

Special Guest Dan Bortolotti 

Do you know how hard it is to find a decent full size picture of Dan Bortolotti online? Anyway, this one might not be like any other on the site, but then again, Dan isn’t like any other guest we have had on the show.

Dan Bortolotti is the writer behind Canadian Couch Potato, a blog about simple, low-cost index investing that has changed the way lots of Canadians invest (for the better). He’s also a journalist, a regular contributor to MoneySense Magazine, and author of nine books, including The MoneySense Guide to the Perfect Portfolio, Hope in Hell, and Wild Blue.

On top of all of that, he’s a licensed investment advisor who works closely with the team at PWL Capital on the DIY Portfolio Service.

You can read his complete bio here, check out the Canadian Couch Potato by clicking the image below, or you can watch Dan live on Episode 15 of the Because Money Podcast where we examine a number of behavioural biases and how investors can overcome them.

Canadian Couch Potato

Even the most steadfast investors can fall victim to their own destructive behaviour when it comes to managing their money.  We tend to be overconfident and take on too much risk with our investments.  We toss aside a carefully thought out investment plan the moment Mr. Market decides to have a temper tantrum.

Investors who’ve just started to build a portfolio within the last five years have only known the market to go one direction – up.  The crash of 2008-09 is a distant memory as our recency bias takes over and we forget how risky stocks can be in the short term.

So for those of us who keep 100% of our portfolio in Canadian stocks (home country bias) or who’ve held on to a losing stock because we’re waiting to break even (framing), we’re fortunate to have Dan Bortolotti on the show this week to help us train our investing brains.

Dan is the editor-at-large at MoneySense and the blogger behind Canadian Couch Potato.  His most recent MoneySense article – Train Your Investing Brain – examines a number of behavioural biases and how investors can overcome them.

We’ll talk about the reasons why our biggest problem as investors is likely to be ourselves.

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Season 1 | Because Money Podcast | All Episodes

Here is the list of all 27 episodes from Season 1 of the Because Money Podcast. Hosts Robb Engen, Sandi Martin and Jackson Middleton discuss relevant finance news, topics and issues with some of Canada's leading financial personalities.

Source: https://becausemoney.ca/

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S1 Ep27 | Robert R. Brown - Because Money

Here is a list of the resources we used for this episode! And go. Jackson: Hey everybody, welcome to another episode of The Because Money Podcast. This is Episode 27, the most exciting episode we've had so far. And with that, I've got nothing else to say and I'm turning it over to Robb Engen.

Sep 07, 2015 - becausemoney.ca - 1516
S1 Ep26 | Alexandra Macqueen - Because Money

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S1 Ep25 | So It's Your First Time Budgeting - Because Money

It's our last episode of 2014, and - in the spirit of the coming New Year - we're talking budgets. The Christmas bills are about to start rolling in, which means 'tis the season for resolving to control your money this year.

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Cent$ible Students | Because Money Podcast | Ep24

Teaching Kids About Money
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Nov 10, 2014 by Sandi Martin - becausemoney.ca - 1509
John Robertson PhD | Because Money Podcast | Ep23

Anonymous Advice | Value of Simple.
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Ellen Roseman | Because Money Podcast | Ep22

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Michael Katchen | Because Money Podcast | Ep21

What is Wealthsimple?
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Because Money Podcast | Ep20

Side Money.
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Nov 10, 2014 by Sandi Martin - becausemoney.ca - 1212
Because Money Podcast | Ep19

Insurance Nightmares.
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Barry Choi | Becasue Money Podcast | Ep18

Travelling on the Cheap.
Apparently everything you need to know about travelling on the cheap starts with www.airbnb.com

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Rob Carrick | Because Money Podcast | Ep17

Generation Y and Mindless Home Buying.
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Nov 10, 2014 by Sandi Martin - becausemoney.ca - 1462
Kyle Prevost | Becasue Money Podcast | Ep16

How Do You Teach Financial Literacy?.
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Nov 10, 2014 by Sandi Martin - becausemoney.ca - 1369
Dan Bortolotti | Because Money Podcast | Ep15

How Not to Be Your Own Worst Enemy,
Special Guest Dan Bortolotti Even the most steadfast investors can fall victim to their own destructive behaviour when it comes to managing their money. We tend to be overconfident and take on too much risk with our investments. We toss aside a carefully thought out investment plan the moment Mr. Market decides to have a temper ...

Mar 25, 2014 - becausemoney.ca - 1197
Noel D'Souza &amp; John Robertson PhD | Because Money Podcast | Ep14

Why You (Yes, YOU) Should Care About How Financial Advice is Regulated | Because Money.
We're stepping up on the soapboxes this week and using the dreaded SH word at you: should. You should care about how financial advice in Canada is regulated, even if it means sacrificing some time waiting for the next season of Doctor Who or Downton Abbey or whatever it is you watch.

Mar 19, 2014 - becausemoney.ca - 1385
Preet Banerjee | Because Money Podcast | Ep13

There Are No Bad Apples, Just Bad Barrels.
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Because Money Podcast | Ep12

How Rewarding are Rewards Cards Really?
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Mar 04, 2014 by Sandi Martin - becausemoney.ca - 1368
Because Money Podcast | Ep11

Home Buyers Plan.
RRSPs to fund a Downpayment? Good or Bad? Being that it is getting close to tax season (some argue tax season is already here), expect to see a lot more conversation about RRSPs. Of note lately is talk that the Home Buyers Plan is more of a downpayment loophole than anything.

Feb 12, 2014 - becausemoney.ca - 1259
Because Money Podcast | Ep10

The Fellowship of the Andex Chart.
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Jan 29, 2014 - becausemoney.ca - 1088
Because Money Podcast | Ep09

I Can't Afford to Not buy It.
How Canadian Economic News Impacts You No guests this week, instead you are stuck with us talking about what is making news in Canada this week. As usual, if you would like to join the conversation, don't hesitate to jump in using the #becausemoney hashtag on twitter.

Jan 16, 2014 - becausemoney.ca - 1352
John Robertson PhD | Because Money Podcast | Ep08

Borrowing Money Isn't Your Sacred Right as a Canadian.
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Jan 08, 2014 - becausemoney.ca - 1323
Melissa Leong | Because Money Podcast | Ep07

Time Travel, How My Stupid My Past Self Won't Listen To Me and Weddings.
Special Guest joins us for episode 7. January: month of snow, wind, more snow, snow days, unplowed sidewalks...and weddings. Forget June, January is the real wedding season, full of wedding shows and blowout dress sales. We talk about it all! A must watch if you are planning a wedding soon!

Dec 18, 2013 - becausemoney.ca - 1212
Because Money Podcast | Ep06

Return of the Small Business Owner.
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Because Money Podcast | Ep05

The Fees Strike Back.
We all hate paying fees and try to avoid them where we can, but some are worth paying because they add value/save time/give peace of mind. So our question to you! Which fees are worth the money? Also, the conversation might move towards managing your business finance much like you do personal finance...

Dec 04, 2013 - becausemoney.ca - 1434
Noel D'Souza | Because Money Podcast | Ep04

A New Hope with Noel D'Souza.
Low-cost, Hand-Holding, Fairy-Godmother, Fee-Only Financial Planning This week were joined by special guest Noel D'Souza. In case you are wondering... it's pronounced "Know-ell"... now you know. What we discussed Lots on the agenda, conversation included the following: Does my mother need a fee-only financial planner? What the mutual fund industry isn't telling you!

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Kerry K. Taylor | Because Money Podcast | Ep03

Women, Money and the Will to Wave Hands.
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