Dr. Bryan Foltice Behavioral Finance Podcast

Dr. Bryan Foltice
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Welcome to the Bryan Foltice Behavioral Finance Podcast, where we dive deep into the fascinating intersection of financial decision-making and human behavior. Your host, Dr. Bryan Foltice, aims to embark on this journey with you to explore the quirks, biases, and psychological factors that shape our financial choices. From understanding why we buy high and sell low, to uncovering the emotional drivers behind our investment strategies, each episode will uncover valuable insights to help you navigate the complex world of finance with clarity and confidence. So, please join us as we unravel the mysteries of personal and behavioral finance and unlock the secrets to making smarter, more informed decisions with your money.

  1. 1d ago ·  Video

    Algorithm Aversion: Fear of the Flawed Machine

    Question, Comment? Send it Here! Using AI Effectively: Pairing the Machine With Your Own Brainpower In this episode, Bryan Foltice explores how AI can be used really effectively only when it’s coupled with our own brain power. We discuss how conversations about AI often lead back to this core idea, and why it helps to name and formalize a continuum for where we and others fall in our attitudes toward AI. We explore the value of understanding prior research on these perspectives, building awareness of where others might be—like blind rejection—and how we can help move toward a more skeptical, exploratory stance that still involves dipping a toe into using the technology. 00:00 AI Needs Brainpower 00:39 Mapping Adoption Spectrum 00:46 From Rejection to Skepticism 00:59 Putting AI to Work 01:01 Closing Thoughts Support the show Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter Bryan Foltice Personal Website - www.bryanfoltice.com Money Strong Website - www.moneystrong.net Instagram - www.instagram.com/dr.bryanfoltice Linkedin - https://www.linkedin.com/in/bryanfoltice Disclaimer: www.bryanfoltice.com/cv

  2. Aug 14 ·  Video

    Automation Bias: The Brain’s Trust in Technology

    Question, Comment? Send it Here! Automation Bias in Investing: When to Trust (and Challenge) AI | Bryan Foltice Behavioral Finance Podcast In this episode of the Bryan Foltice Behavioral Finance Podcast, we explore automation bias—the tendency to use technology as a mental shortcut in place of vigilant information seeking and processing—using examples like GPS routes and copying ChatGPT answers without thinking. We discuss early research from the 1990s on pilots and automated aircraft, outlining two error types: omission errors (failing to act when automation misses a problem) and commission errors (following a bad automated recommendation despite contradictory information). We connect automation bias to Type 1 vs. Type 2 thinking, arguing that as tasks become more complex and consequences rise—especially in investing, retirement, tax, and estate planning—we need a middle ground: use AI’s benefits while actively verifying, prompting, and challenging outputs. We close by previewing next episode’s topic: algorithm aversion. 00:00 Podcast Welcome 00:26 Automation Bias Defined 02:19 Origins in Aviation 03:47 Omission vs Commission 05:39 Why We Love Automation 08:04 GPS Jog Gone Wrong 11:35 Type Two Thinking Trigger 13:07 Finding the AI Middle Ground 16:08 Prompting and Staying Critical 17:57 Algorithm Aversion Teaser 19:37 Wrap Up and Next Episode Support the show Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter Bryan Foltice Personal Website - www.bryanfoltice.com Money Strong Website - www.moneystrong.net Instagram - www.instagram.com/dr.bryanfoltice Linkedin - https://www.linkedin.com/in/bryanfoltice Disclaimer: www.bryanfoltice.com/cv

  3. Aug 7 ·  Video

    Specialization vs. Diversification: The Investment Dilemma

    Question, Comment? Send it Here! In this episode, we continue the discussion on the diversification heuristic, noting people are naturally good at diversifying but can mistakenly believe they’re diversified when holdings overlap.  We explores when it might make sense not to diversify, inspired by millionaire profiles that often focus heavily on one area such as real estate, which can be risky when leverage is involved.  Here we propose a framework: Diversify when you’re uncertain, but consider concentrating when you have special knowledge within a “circle of competence,” echoing Warren Buffett’s view that diversification protects against ignorance.  The challenge is knowing whether you’re truly specialized, since people are poor judges of their abilities due to overconfidence and the Dunning-Kruger effect. We outline Dunning-Kruger’s four stages and suggests using feedback and time/experience to better gauge competence before concentrating. Support the show Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter Bryan Foltice Personal Website - www.bryanfoltice.com Money Strong Website - www.moneystrong.net Instagram - www.instagram.com/dr.bryanfoltice Linkedin - https://www.linkedin.com/in/bryanfoltice Disclaimer: www.bryanfoltice.com/cv

  4. Jul 31 ·  Video

    From Potluck to Portfolio: Understanding Our Diversification Heuristic and Mastering Our Decision Making

    Question, Comment? Send it Here! In this episode, Dr. Bryan Foltice explains the diversification heuristic as a mental shortcut that often leads to smarter choices but can backfire in the wrong context.  Using a buffet example and evolutionary reasoning, he shows how people naturally try a little of everything to avoid regret.  He reviews research on sequential versus simultaneous choice: Simonson (1990) found far more variety when people choose for multiple weeks at once, and Read & Loewenstein (1999) showed children diversify more when choosing two candies together.  In finance, Benartzi & Thaler (2001) and TIAA-CREF data illustrate “1/N” allocation, including Markowitz’s regret-minimizing 50/50 stock-bond split, which can ignore true risk tolerance.  Foltice highlights pitfalls like overlapping funds (SPY vs. VOO), buying unfamiliar assets (e.g., crypto) for “diversification,” and over-diversifying time, concluding that awareness helps clients and individuals apply diversification appropriately. Support the show Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter Bryan Foltice Personal Website - www.bryanfoltice.com Money Strong Website - www.moneystrong.net Instagram - www.instagram.com/dr.bryanfoltice Linkedin - https://www.linkedin.com/in/bryanfoltice Disclaimer: www.bryanfoltice.com/cv

  5. Jul 24

    The Psychology Behind Trading Cards - One Card, Three Different Motivations

    Question, Comment? Send it Here! In this episode, Dr. Bryan Foltice introduces behavioral finance using a trading-card example where three people buy the same $500 Patrick Mahomes card but act differently:  One sells it back to buy unopened boxes (the gambler), One files it into a personal collection (the collector), and one lists it for profit (the investor/flipper).  He traces how trading cards evolved from childhood collectibles to the mass-produced “Junk Wax Era,” then surged again during the pandemic, with the industry reportedly at $50 billion in 2026 and projected to reach $90 billion.  Foltice explains key behavioral concepts behind each type—overconfidence, availability bias, and variable rewards for gamblers; nostalgia, endowment effect, and identity for collectors; and mispricing, grading dynamics, herding, recency bias, and overconfidence for investors—arguing that identical assets can serve different psychological utilities. Support the show Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter Bryan Foltice Personal Website - www.bryanfoltice.com Money Strong Website - www.moneystrong.net Instagram - www.instagram.com/dr.bryanfoltice Linkedin - https://www.linkedin.com/in/bryanfoltice Disclaimer: www.bryanfoltice.com/cv

  6. Jul 17

    We Are Back!!! Why We Don’t Do What We Know We Should?

    Question, Comment? Send it Here! We're back BABY!!! Dr. Bryan Foltice returns to relaunch The Bryan Foltice Behavioral Finance Podcast and refocus it on true behavioral finance rather than generic personal finance content.  He explains how his work at Butler University, building Money Strong programming, and serving as department chair pulled him away, but with that role now over he’s energized to ramp the show back up and eventually pursue full professor.  The podcast will examine why people fail to follow simple financial advice like spending less than they earn, using behavioral finance—defined as the study of how psychology affects investors and financial markets—to bridge the gap between academic research and practical application.  Episodes will include bias-focused education, research insights (including around AI), market current events, and potential guests, and he invites listeners to submit topic ideas. 00:00 Welcome Back Intro 00:31 Host Background Reset 01:17 Money Strong To Now 03:14 Why Behavioral Finance 04:21 Personal Finance Gap 05:38 Behavioral Finance Defined 06:12 Markets And Current Events 06:38 Bridge Academia And Real Life 08:36 What Youll Learn Here 09:24 Community And Guests 10:28 Wrap Up And Subscribe 11:38 Outro Thanks Support the show Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter Bryan Foltice Personal Website - www.bryanfoltice.com Money Strong Website - www.moneystrong.net Instagram - www.instagram.com/dr.bryanfoltice Linkedin - https://www.linkedin.com/in/bryanfoltice Disclaimer: www.bryanfoltice.com/cv

  7. 08/18/2025

    Millions on the Field: NIL and the New Age of College Entrepreneurs

    Question, Comment? Send it Here! Welcome to the Money Strong Monday morning broadcast with Dr. Bryan Foltice!  In this episode, we break format to discuss the latest economic updates, including the state of the S&P 500, inflation rates, and interest rates, and their impacts. Dr. Foltice then dives deep into this episode's primary topic—NIL (Name, Image, and Likeness) money and its significant effect on student-athletes in U.S. colleges.  Learn about the various tiers of NIL compensation, financial challenges, and opportunities athletes face, and the importance of providing the right support and education to help them navigate this new landscape. Also, get a sneak peek into Dr. Foltice's upcoming fall courses and plans for supporting student-athletes with money management and financial wellbeing. 00:00 Introduction and Today's Agenda 00:59 Economic Update: Market Trends and Federal Reserve Policies 06:57 Preparing for the Upcoming Academic Year 08:29 Deep Dive: NIL Money in College Athletics 15:34 Understanding the Tiers of NIL Earnings 26:23 Conclusion and Upcoming Discussions Check out www.moneystrong.net and www.bryanfoltice.com for more information.  Support the show Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter Bryan Foltice Personal Website - www.bryanfoltice.com Money Strong Website - www.moneystrong.net Instagram - www.instagram.com/dr.bryanfoltice Linkedin - https://www.linkedin.com/in/bryanfoltice Disclaimer: www.bryanfoltice.com/cv

  8. 08/11/2025

    Financial Expert Makes Terrible Spending Decisions: Bad Luck or Something Deeper?

    Question, Comment? Send it Here! How I Overspent $3300 in June & What I Learned From It | Money Strong Podcast In this episode of the Money Strong Podcast, Dr. Bryan Foltice shares his real-life experience of going over his monthly budget by $3300 in June. He provides insights into how unexpected expenses and impulsive spending can derail financial plans. Learn about his approach to dealing with the aftermath and how he aims to throttle back, simplify life, and regain control over his finances. Follow along as Dr. Foltice wraps up his series on financial well-being, emphasizing the importance of mindset in managing money. Don't miss his tips on how to bounce back from financial mistakes and build a more stable future. Remember to like, comment, and subscribe! 00:00 Introduction and Episode Overview 03:11 A Month of Overspending: My June Story 05:01 The Financial Impact of Summer Activities 08:37 Unexpected Expenses and Financial Missteps 12:44 The Day of Reckoning: Realizing the Overspend 16:04 Strategies to Regain Financial Control 17:30 Reflecting on the Root Causes of Overspending 21:03 Simplifying Life for Better Financial Health 23:41 Mid-July Update: Progress and Optimism 26:45 Conclusion and Final Thoughts Support the show Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter Bryan Foltice Personal Website - www.bryanfoltice.com Money Strong Website - www.moneystrong.net Instagram - www.instagram.com/dr.bryanfoltice Linkedin - https://www.linkedin.com/in/bryanfoltice Disclaimer: www.bryanfoltice.com/cv

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About

Welcome to the Bryan Foltice Behavioral Finance Podcast, where we dive deep into the fascinating intersection of financial decision-making and human behavior. Your host, Dr. Bryan Foltice, aims to embark on this journey with you to explore the quirks, biases, and psychological factors that shape our financial choices. From understanding why we buy high and sell low, to uncovering the emotional drivers behind our investment strategies, each episode will uncover valuable insights to help you navigate the complex world of finance with clarity and confidence. So, please join us as we unravel the mysteries of personal and behavioral finance and unlock the secrets to making smarter, more informed decisions with your money.

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