Understanding Behavioral Finance with Lisa Kramer: From Seasonal Affective Disorder to OverconfidenceIn this episode of Barenaked Money, host Colin White from Verecan Capital Management interview Lisa Kramer, the inaugural Verecan Chair in Behavioural Finance at the University of Toronto. They discuss the importance of behavioural finance, which integrates psychology into economic and financial contexts to understand decision-making processes. Key topics include the impact of sunlight on financial risk preferences, the differences between behavioural economics and behavioural finance, and practical advice for mitigating the effects of seasonal mood changes on investment decisions. Lisa also shares her research on the broader implications of overconfidence in trading. The episode emphasizes the need for awareness and informed decision-making in personal finance.00:00 Introduction to Barenaked Money00:16 Special Guest: Lisa Kramer00:50 Behavioural Finance and Its Importance02:49 Behavioural Finance vs. Behavioural Economics05:35 Seasonal Effects on Financial Decisions10:42 Strategies to Mitigate Behavioural Biases21:47 Financial Decision Making32:42 Conclusion and Final Thoughts

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