{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Moneywise","title":"He Studied 38,000 Twins and Says Your Money Habits Are Genetic","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/1552aaa9\"></iframe>","width":"100%","height":180,"duration":3215,"description":"JOIN HAMPTON:\nThese episodes often come directly out of conversations happening inside Hampton, a private community for founders and CEOs with $3M+ in revenue or $10M+ exits. Members range from $5M net worth to billions. They wrestle with these same questions off the record. Apply at http://joinhampton.com/mw.\nHOW FOUNDERS ARE BUILDING WEALTH:\nHow much do founders actually make, spend, invest, work, and keep in net worth? Hampton surveyed founders directly and put the answers into one report. Download it for free here: https://joinhampton.com/mw-wr\nEPISODE DETAILS:\nMost founders spend years learning how to make money. Almost none of them prepare for what their brain does once they have it.\nHenrik Cronqvist is a behavioral finance professor who trained under Nobel laureate Richard Thaler and has spent 25 years studying exactly that. His research has been cited over 7,000 times. He has studied 38,000 people to answer one uncomfortable question: how much of the way you save, spend, and invest is actually hardwired into your DNA?\nThe answer will change how you think about every financial decision you make after an exit.\nThis episode covers the science behind why the traits that made you a great founder may work against you as an investor, what actually happens in your brain the day the wire hits, and the one thing Henrik says every founder should do before making a single investment.\nTIMESTAMPS:00:00 — The traits that made you a great founder will make you a bad investor \n01:45 — What is behavioral finance and why should founders care \n04:35 — How Henrik got into this research (the Stockholm subway story) \n06:39 — The 38,000 twin study: how much of your money behavior is genetic \n10:56 — The first thing to do when the wire hits your account \n12:49 — Loss aversion, performance chasing, and home bias explained \n20:35 — Your personal mortgage predicts how you'll run your company's finances \n30:08 — Why your brokerage app is designed to work against you \n37:07 — Why...","thumbnail_url":"https://img.transistorcdn.com/vCvB-0dtzg339Iof9Uhri-E5Cu1YvE_goNcKch75CeI/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS83ZTZj/OWRiMTI3NjI1YWUy/MWY4ZWJkOTU2YzFl/NzE0Mi5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}