Ted Richards, famous defender for the Sydney Swans, behavioural economist and now Business Development Manager at Six Park, helps first-time investors tackle the biases that may be affecting their investment decisions and introduces us to the low-fee world of investing with robo advice.
"My investment philosophy is not to put all my eggs in one basket and try and pick the next best performing asset class but rather taking a diversified view and getting exposure to multiple asset classes."
Ted didn't waste his time off the field when playing AFL for the Sydney Swans and Essendon. He taught himself about investing and soon turned his passion into a career. After gaining a Bachelor of Commerce he completed an MBA in finance. Now at Six Park he is committed to investors having professional advice at a low cost.
"We're disrupting investment management"
We spoke about his first investing book One Up on Wall St given to him by his father, how buying shares in an Australian bank, miner and supermarket is not diversification and the biases that affect our investment decisions.
Be aware of your bias
Most of the time you are not making rational decisions. The best investors remove emotion from their decision making. Ted explains the thinking that you should avoid.
"Recency bias is when...we put an emphasis on things that happened more recently than in the distant past"
"I found Geelong a real surprise package this year, but..."
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