Uploaded June 2019 | Updated September 2026, 13 minutes ago
We're guilty of behavior that's in the realm of confirmation bias quite a bit, yet the meaning of the term is frequently not understood properly.
Confirmation bias in decision making (financial decisions or otherwise) is one of those things that people will quickly tell you is wrong, yet the same people will make that mistake anyway, possibly even right after your conversation in which they tell you it's wrong :)
By understanding the definition of the term "confirmation bias" through an easy to follow explanation and relevant examples, you'll realize why it's one of the most widely known about yet least internalized concepts of decision-making.
Simply put, having a firm grasp of what confirmation bias is all about is paramount if you're serious about making better financial decisions or let's say decisions in general. No, memorizing the definition of the term is nowhere near enough.
The name of the game is internalizing it, seeing the deeply-rooted relationship between confirmation bias and... well, human nature. This video will help you do just that.
To support the channel, give me a minute (see what I did there?) of your time by visiting OneMinuteEconomics.com and reading my message.
Bitcoin donations can be sent to 1AFYgM8Cmiiu5HjcXaP5aS1fEBJ5n3VDck and PayPal donations to oneminuteeconomics@gmail.com, any and all support is greatly appreciated!
Oh and I've also started playing around with Patreon, my link is:
patreon.com/oneminuteeconomics
Interested in reading a good book?
My first book, Wealth Management 2.0 (through which I do my best to help people manage their wealth properly, whether we're talking about someone who has a huge amount of money at his disposal or someone who is still living paycheck to paycheck), can be bought using the links below:
Amazon - amazon.com/Wealth-Management-2-0-Financial-Professionals-ebook/dp/B01I1WA2BK
Barnes & Noble - barnesandnoble.com/w/wealth-management-20-andrei-polgar/1124435282?ean=2940153328942
iBooks (Apple) - itun.es/us/wYSveb.l
Kobo - store.kobobooks.com/en-us/ebook/wealth-management-2-0
My second book, the Wall Street Journal and USA Today bestseller The Age of Anomaly (through which I help people prepare for financial calamities and become more financially resilient in general), can be bought using the links below.
Amazon - amazon.com/Age-Anomaly-Spotting-Financial-Uncertainty-ebook/dp/B078SYL5YS
Barnes & Noble - barnesandnoble.com/w/the-age-of-anomaly-andrei-polgar/1127084693?ean=2940155383970
iBooks (Apple) - itunes.apple.com/us/book/age-anomaly-spotting-financial-storms-in-sea-uncertainty/id1331704265
Kobo - kobo.com/ww/en/ebook/the-age-of-anomaly-spotting-financial-storms-in-a-sea-of-uncertainty
Last but not least, if you'd like to follow me on social media, use one of the links below:
facebook.com/oneminuteeconomics
twitter.com/andreipolgar
ro.linkedin.com/in/andrei-polgar-9a11a561
We're guilty of behavior that's in the realm of confirmation bias quite a bit, yet the meaning of the term is frequently not understood properly.
Confirmation bias in decision making (financial decisions or otherwise) is one of those things that people will quickly tell you is wrong, yet the same people will make that mistake anyway, possibly even right after your conversation in which they tell you it's wrong :)
By understanding the definition of the term "confirmation bias" through an easy to follow explanation and relevant examples, you'll realize why it's one of the most widely known about yet least internalized concepts of decision-making.
Simply put, having a firm grasp of what confirmation bias is all about is paramount if you're serious about making better financial decisions or let's say decisions in general. No, memorizing the definition of the term is nowhere near enough.
The name of the game is internalizing it, seeing the deeply-rooted relationship between confirmation bias and... well, human nature. This video will help you do just that.
To support the channel, give me a minute (see what I did there?) of your time by visiting OneMinuteEconomics.com and reading my message.
Bitcoin donations can be sent to 1AFYgM8Cmiiu5HjcXaP5aS1fEBJ5n3VDck and PayPal donations to oneminuteeconomics@gmail.com, any and all support is greatly appreciated!
Oh and I've also started playing around with Patreon, my link is:
patreon.com/oneminuteeconomics
Interested in reading a good book?
My first book, Wealth Management 2.0 (through which I do my best to help people manage their wealth properly, whether we're talking about someone who has a huge amount of money at his disposal or someone who is still living paycheck to paycheck), can be bought using the links below:
Amazon - amazon.com/Wealth-Management-2-0-Financial-Professionals-ebook/dp/B01I1WA2BK
Barnes & Noble - barnesandnoble.com/w/wealth-management-20-andrei-polgar/1124435282?ean=2940153328942
iBooks (Apple) - itun.es/us/wYSveb.l
Kobo - store.kobobooks.com/en-us/ebook/wealth-management-2-0
My second book, the Wall Street Journal and USA Today bestseller The Age of Anomaly (through which I help people prepare for financial calamities and become more financially resilient in general), can be bought using the links below.
Amazon - amazon.com/Age-Anomaly-Spotting-Financial-Uncertainty-ebook/dp/B078SYL5YS
Barnes & Noble - barnesandnoble.com/w/the-age-of-anomaly-andrei-polgar/1127084693?ean=2940155383970
iBooks (Apple) - itunes.apple.com/us/book/age-anomaly-spotting-financial-storms-in-sea-uncertainty/id1331704265
Kobo - kobo.com/ww/en/ebook/the-age-of-anomaly-spotting-financial-storms-in-a-sea-of-uncertainty
Last but not least, if you'd like to follow me on social media, use one of the links below:
facebook.com/oneminuteeconomics
twitter.com/andreipolgar
ro.linkedin.com/in/andrei-polgar-9a11a561
