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Ep. 031: My Best Cryptocurrency Investing Advice: Control Your Lizard Brain with Terry Burnham

by | Aug 21, 2018

I was looking at the Q&A site Quora the other day. A common question around cryptocurrency is “What is your best cryptocurrency investing advice?”

The answers were your standard fare… things like #HODL, don’t #HODL, don’t invest more than you can afford to lose, doing lots of research, blah blah blah.

Mine is control your lizard brain. If you can’t do that, nothing else will matter.

So I decided to go to the wayback machine and dust off an interview I did with Terry Burnham, author of Mean Markets and Lizard Brains, for my radio show, all the way back in 2005.

Being an interview from 2005, Bitcoin wasn’t even a glimmer in Satoshi Nakamoto’s eye yet. But everything we say about the stock market is equally applicable to cryptoassets since, as I keep reminding you, just because crypto is a new asset class, all the same rules of investing still apply.

Terry Burnham is a leader in the application of biology to economics and finance. He was an economics professor at Harvard for many years, beginning at the Kennedy School and then Harvard Business School.

His biological research has taken him to Africa to observe wild chimpanzees and to the laboratory to study the role of testosterone in negotiation.

He is coauthor of the international best seller, Mean Genes. Before joining the Harvard Faculty, he worked at Goldman Sachs and was the President and CFO of a successful startup biotech firm.

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“Control your lizard brain. If you can’t do that, nothing else will matter.”

— Kim Snider

In this episode, we cover:

✓ Terry’s very diverse background

✓ Where he fits in the various schools of economic thought

✓ How those two schools are mirrored in our physical brains

✓ How our prehistoric lizard brain affects our investment decisions

✓ What is the answer? How do we fight back?

✓ His best investing advice

TO DIVE DEEPER INTO OUR BEST CRYPTOCURRENCY INVESTING ADVICE:

Mean Markets and Lizard Brains: How to Profit from the New Science of Irrationality – Terry Burnham (Amazon aff. link)

How To Be The Family CFO: 4 Simple Steps To Put Your Financial House In Order – Kim Snider (Amazon aff. link)

Family CFO Curriculum and Resources – SANE CRYPTO

QUESTIONS OR FEEDBACK:

Email: askkim@sanecrypto.com
Twitter: @sanecrypto https://twitter.com/sanecrypto

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