Ross Bentley runs Speed Secrets, a race driver coaching service in Canada. He is also co-athor of Performance Pilot along with Phil Wilkes, whom we interviewed in Episode 3. His expertise not only covers the physical act of driving but also how to tame the mind, such as his presentation The Mental Game of Driving. He also has an eBook on the same topic, Mental Imagery Guide for Drivers. He has worked with Stanford psychology researcher Carol Dweck and grad student Fred Leach to apply Carol's growth vs fixed mindset concept to race drivers. For further info on this, she has written a book called Mindset. He was also involved in the development of the Garmin Catalyst™ Driving Performance Optimizer. Listen up for some great insights into how to program the mind with imagery and triggers and some enthralling racing stories.

INTERVIEWEE:

Tom Perfrement is a successful young Australian small-cap investor who also currently happens to be the nation's 432nd best tennis player (Tennis Australia Rankings). Along with studying for an MBA at Oxford University and helping lead a not for profit (Good Data Institute), he also runs T.E.P. Investments as his full-time occupation. At one point Tom also achieved a coveted red heart on Hot Copper. Listen in as he pitches a few small and nano-cap ASX businesses whilst talking about his method of behavioral investing and achievements in self-mastery.

The discussion covered some psychology research about loss aversion (Tversky & Kahneman, 1992) and fear of heights (Stefanucci & Proffitt, 2009), see references below.

Regarding his assessment of Connexion Telematics, see this valuation on Strawman. Wil's analysis of the same is found here.

TOM CAN BE FOUND HERE ON SOCIAL MEDIA:

Twitter

LinkedIn

Strawman

REFERENCES

Stefanucci, J. K., & Proffitt, D. R. (2009). The roles of altitude and fear in the perception of height. Journal of experimental psychology. Human perception and performance, 35(2), 424–438. https://doi.org/10.1037/a0013894

Tversky, A., & Kahneman, D. (1992). Advances in prospect theory: Cumulative representation of uncertainty. Journal of Risk and Uncertainty, 5, 297-323. https://doi.org/10.1007/BF00122574

THE BEHAVIORAL INVESTOR CAN BE FOUND HERE ON SOCIAL MEDIA:

Twitter

Strawman

This episode discusses a number of papers and some history. A summary of this is found in this document:

https://docs.google.com/document/d/14kKraJWU3hcRkXSidd_1X46ApqOPFGmYn7HWWV9W2QQ/edit?usp=sharing

TOPICS

0-18:24 - Blue Ocean Strategy

18-24:20 - Compounding in nature example: Prerast Velika Kapija (https://twitter.com/behafin/status/1317876834109952001)

24:20-43:50 - Comparing investing one's income and investing for income: (https://drive.google.com/file/d/1Qb4juXVZwtkrXoF4u5sm3prhdX6xYI6d/view?usp=sharing)

43:50-1:01:52 - How the stock market, as one of many mechanisms for purchasing a business, creates a distraction for amateur investors

1:01:52 - end - How being able to buy parts of very expensive businesses, cheaply (shares), introduces people into the market who lack discipline or expertise.

We interview Phil Wilkes, coauthor of Performance Pilot: http://performancepilot.net/. 

Tom Watts is a clinical psychologist. We interviewed him in order to learn from a master of human nature. His practice can be found here.

At the start of the episode, we mention a long term financial compounding example described in the previous episode. You are encouraged to listen to it for context. The same goes for this spreadsheet illustrating how much you can make from long term investing of this sort.

If you put the methods to work Tom discusses in this episode, you will have a chance attaining the goal expressed in that sheet.

Concepts and researchers mentioned by Tom with some Google Scholar links to send you down some profitable rabbit holes:

Ben mentions a few resources in the interview. 

Consolations of Philosophy by Alain de Botton:

https://www.youtube.com/playlist?list=PLxRuhrcSjnv2weFRcqOeCpk4Wy7_hay2j

Family Fortunes: How to Build Family Wealth and Hold on to It for 100 Years by Will and Bill Bonner:

https://www.amazon.com.au/Family-Fortunes-Build-Wealth-Years-ebook/dp/B008EB6BU0

A spreadsheet illustrating the effect of compounding $35,000 in a low cost index fund over 3 careers: 

https://docs.google.com/spreadsheets/d/1k0IDctrpzyLjFFjYqTiPXZuSTwYFJdK-QZQ3AG859Dw/edit?usp=sharing

We discuss how behavioral investing is about life: eating, laughing, crying and doing nothing.