Standard Deviations with Dr. Daniel Crosby

Latest Episodes:

Dr. Derek Griner - Empathy in Action: The Transformative Role of Compassion in Building Stronger Connections Mar 14, 2024

Show notes

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What lead Dr. Griner to focus his work and research around compassion specifically?
When clinicians like Dr. Griner talk about compassion, what are they talking about exactly and how might this differ from the popular conception of compassion?
How do we balance our desire to want to end someone’s suffering without falling into the trap of just wanting to fix everything or go directly to solutions?
What are some examples where compassion might look assertive, firm or even defiant?
How can we strike a balance between being service-driven and compassionate with meeting our own needs and self-compassion?
In his book Dr. Griner lays out six principles of compassion – what are a few of these and how did he arrive at them?
How might we apply the thought that “it’s not my fault, but it is my responsibility” in our daily lives?
What are the 3 emotional systems Dr. Griner lays out in his book and how do they interact?
Why is our “soothing system” typically the least developed of our 3 emotional systems?
For those who have particularly large red (anxiety system) or blue (motivation system) circles but malnourished green (soothing system) circles, how can they begin to cultivate this within themselves a bit more?
What is the relationship between self-compassion and compassion for others, and why is it often so hard to cut ourselves some slack?

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Compliance Code: 0385-OAS-2/21/2024

Dr. Daniel Crosby - Not Being Dumb Beats Being Brilliant Mar 07, 2024

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What is the “Dumb Ways to Die” music video and why was it originally created?
Was the above an effective behavioral intervention or did it fall short?
Why is buy-in for employer sponsored retirement savings plans so low and what might be done to remedy this?
Why might marketing campaigns with behavioral interventions outperform more overt, standard marketing approaches?
What did Charlie Munger say was a differentiator in Berkshire’s approach?

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Compliance Code: 0502-OAS-3/4/3024

Dr. Daniel Crosby - Not Caring What Others Think is a Valuable Asset (from The Soul of Wealth) Feb 15, 2024

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What were some of Nikola Tesla’s eccentricities?
What is “The Spotlight Effect” that Morgan Housel observed when working as a valet at a high-end hotel in Los Angeles?
What is Morgan Housel’s “Man in the Car Paradox” and what lessons can be learned from it?
What is the psychological principle “The Anchoring Effect?”
Why does ego driven spending do so little to sate our desire to belong?
How social media may be playing a role in the loneliness epidemic.

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The Soul of Wealth

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Compliance Code: 0317-OAS-2/12/2024

Dr. Daniel Crosby - Money Isn’t About the Numbers (from the Soul of Wealth) Feb 08, 2024

Show notes

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What strategy did Alexander the Great use to overtake Tyre in 332 BC? Why did this military victory leave Alexander feeling more grief stricken than triumphant in the end?
Why did Hephaestion’s death mark a turning point for the Macedonian Empire?
What are “The Top Five Regrets of the Dying?”
What makes up Martin Seligman’s “PERMA” model of well-being and how can we apply this in our own lives?

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The Soul of Wealth

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Compliance Code: 0275-OAS-2/5/2024

Dr. Daniel Crosby - Giving is the Path to Abundance (from the Soul of Wealth) Feb 01, 2024

Show notes

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What common ground, if any, can be found across nearly all spiritual and religious traditions on the globe?
What does academic research have to say about the benefits that accrue to those who are generous?
Why doesn’t spending money on ourselves bring about long-lasting joy and what role does the “hedonic treadmill” play in this?
Why do the benefits of giving transcend economic and cultural boundaries?
It is clear that generosity makes us happier, but can it also make us richer?

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The Soul of Wealth

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Compliance Code: 0239-OAS-1/31/2024

Jon Dauphine - The Benefits of Offering Pro Bono Financial Planning Jan 25, 2024

Show notes

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- With all of the possibilities out there, why has Jon landed on his current path and why does he think that pro bono work is so vital?

- Jon’s organization just completed a very comprehensive study on pro bono financial planning. Were there any results that really stood out or surprised him?

- What did Jon’s research unearth about the moral case for doing financial planning?

- What case can be made for doing pro bono financial planning from a business perspective?

- What accounts for the delta between how many advisors want to do this work and how few firms are offering it?

- What professional development opportunities does pro bono work open your firm up to?

- From a behavioral perspective, how do we ensure that pro bono clients have skin in the game and are proactive about changing their financial circumstances?

- Can pro bono financial planning begin to chip away at the racial wealth gap?

- If listeners are excited by the prospect of getting involved with the pro bono movement but their firm doesn’t currently support this path, what is the best way for them to get started?

www.ffpprobono.org

Compliance Code: 0124-OAS-1/17/2024

Richard Shotton - The Psychology Behind the Illusion of Choice: Why We Think We Have Control Jan 18, 2024

Show notes

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- If so much of what accounts for our behavior is habitual, what hope do we have and how can we change that as we look to the New Year?

- Why do such small bits of friction have an outsized influence on our behavior?

- Does publicly stating your goals have any drawbacks or does it help you stay accountable?

- What is the rhyme-as-reason or fluency effect and how might understanding these effects impact your client education?

- Why can subtle tweaks in the framing of an appeal have such massive impacts on how it is received ?

- In a field like finance, what is an appropriate application of the behavioral reality that humor is sticky without coming across as unserious?

https://www.richardshotton.com

https://www.astroten.co.uk

Compliance Code: 0023-OAS-1/3/2024

Stacy Havener - The Scientist and the Storyteller Miniseries (Pt. 4) Jan 11, 2024

Show notes

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- Why do overly linear, or bullet-pointy, stories tend to fall short? What are the risks of making your backstory too similar to a resume?

- What is the psychological principle “peak-end rule” and how can it be applied to better your backstory?

- Why is knowing your audience such an important part of effective storytelling?

- Why “time of possession” is so important, especially in discovery meetings

- Why is differentiation such an important part of storytelling and how can we stand apart in a field that is getting quite crowded?

- Why is simplicity such a powerful tool to channel in storytelling?

- What is the “Ikea Effect” and how can a bit of well-placed complexity create more buy in to your backstory? How do you find the sweet spot between simplicity and complexity?

https://www.stacyhavener.com

https://www.billiondollarbackstory.com

Compliance Code: 0036-OAS-1/5/2024

Dr. Daniel Crosby - Embracing the Human-First Future: How It Will Shape Every Industry Dec 21, 2023

Show notes

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- Why will AI, automation and algorithms likely lead to an increase in human centered connection in the financial services industry and beyond?

- What is one of Thomas Hobbes’ most famous remarks and how do people take it out of context?

- Why loneliness has far reaching implications for longevity that exceed even obesity.

- How did Volvo make their cars more safe for women in particular?

- How did France address the problem of people peeing in their metro stations?

- How have behavioral scientists addressed the problem of poor hand washing compliance among children in India and Africa?

- What are some small things advisors can do in their practice that have an outsized effect?

https://orion.com/behavioral-finance

Compliance Code: 2129-OAS-8/2/2023

Anthony Damtsis - Building Wealth Confidence: Key Strategies to Boost Your Financial Mindset Dec 14, 2023

Show notes

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- Why do only 13% of American millionaires describe themselves as wealthy? Why don’t we recognize our abundance for what it is?

- What is wealth confidence and what are its broader implications within portfolio management?

- Wealth confidence is definitely somewhat correlated with portfolio performance, but why is net worth alone not a sufficient measure for one’s wealth confidence?

- Is there a sense in which $1,000,000 doesn’t actually get you that far with the rapidly increasing costs of living an upper-middle class lifestyle?

- When there’s a disconnect between composure and capacity, should you accommodate the personality preference, the facts on the ground or land somewhere in the middle?

- If we want to be content and confident with our money, what type of environment should we cultivate for ourselves from a social comparison standpoint?

- Does Anthony have any other practical takeaways from his research for those looking to increase their wealth confidence?

https://www.td.com/behaviouralfinance

Compliance Code: Code: 3239-OAS-12/5/2023

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Standard Deviations with Dr. Daniel Crosby

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