Dr. Bryan Foltice Behavioral Finance Podcast

Hosted by Dr. Bryan Foltice

Business Investing Education

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Latest episode

Aug 2026

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EN-US

About the show

Welcome to the Bryan Foltice Behavioral Finance Podcast, where we dive deep into the fascinating intersection of financial decision-making and human behavior. Your host, Dr. Bryan Foltice, aims to embark on this journey with you to explore the quirks, biases, and psychological factors that shape our financial choices. From understanding why we buy high and sell low, to uncovering the emotional drivers behind our investment strategies, each episode will uncover valuable insights to help you navigate the complex world of finance with clarity and confidence. So, please join us as we unravel the mysteries of personal and behavioral finance and unlock the secrets to making smarter, more informed decisions with your money.

Listen to episodes

60 recent

August 14, 202621 min

Automation Bias: The Brain’s Trust in Technology

Question, Comment? Send it Here! Automation Bias in Investing: When to Trust (and Challenge) AI | Bryan Foltice Behavioral Finance Podcast In this episode of the Bryan Foltice Behavioral Finance Podcast, we explore automation bias—the tendency to use technology as a mental shortcut in place of vigilant information seeking and processing—using examples like GPS routes and copying ChatGPT answers without thinking. We discuss early research from the 1990s on pilots and automated aircraft, outlining two error types: omission errors (failing to act when automation misses a problem) and commission errors (following a bad automated recommendation despite contradictory information). We connect automation bias to Type 1 vs. Type 2 thinking, arguing that as tasks become more complex and consequences rise—especially in investing, retirement, tax, and estate planning—we need a middle ground: use AI’s benefits while actively verifying, prompting, and challenging outputs. We close by previewing next episode’s topic: algorithm aversion. 00:00 Podcast Welcome 00:26 Automation Bias Defined 02:19 Origins in Aviation 03:47 Omission vs Commission 05:39 Why We Love Automation 08:04 GPS Jog Gone Wrong 11:35 Type Two Thinking Trigger 13:07 Finding the AI Middle Ground 16:08 Prompting and Staying Critical 17:57 Algorithm Aversion Teaser 19:37 Wrap Up and Next Episode Support the show Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter Bryan Foltice Personal Website - www.bryanfoltice.com Money Strong Website - www.moneystrong.net Instagram - www.instagram.com/dr.bryanfoltice Linkedin - https://www.linkedin.com/in/bryanfoltice Disclaimer: www.bryanfoltice.com/cv

August 7, 202616 min

Specialization vs. Diversification: The Investment Dilemma

Question, Comment? Send it Here! In this episode, we continue the discussion on the diversification heuristic, noting people are naturally good at diversifying but can mistakenly believe they’re diversified when holdings overlap. We explores when it might make sense not to diversify, inspired by millionaire profiles that often focus heavily on one area such as real estate, which can be risky when leverage is involved. Here we propose a framework: Diversify when you’re uncertain, but consider concentrating when you have special knowledge within a “circle of competence,” echoing Warren Buffett’s view that diversification protects against ignorance. The challenge is knowing whether you’re truly specialized, since people are poor judges of their abilities due to overconfidence and the Dunning-Kruger effect. We outline Dunning-Kruger’s four stages and suggests using feedback and time/experience to better gauge competence before concentrating. Support the show Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter Bryan Foltice Personal Website - www.bryanfoltice.com Money Strong Website - www.moneystrong.net Instagram - www.instagram.com/dr.bryanfoltice Linkedin - https://www.linkedin.com/in/bryanfoltice Disclaimer: www.bryanfoltice.com/cv

July 31, 202617 min

From Potluck to Portfolio: Understanding Our Diversification Heuristic and Mastering Our Decision Making

Question, Comment? Send it Here! In this episode, Dr. Bryan Foltice explains the diversification heuristic as a mental shortcut that often leads to smarter choices but can backfire in the wrong context. Using a buffet example and evolutionary reasoning, he shows how people naturally try a little of everything to avoid regret. He reviews research on sequential versus simultaneous choice: Simonson (1990) found far more variety when people choose for multiple weeks at once, and Read & Loewenstein (1999) showed children diversify more when choosing two candies together. In finance, Benartzi & Thaler (2001) and TIAA-CREF data illustrate “1/N” allocation, including Markowitz’s regret-minimizing 50/50 stock-bond split, which can ignore true risk tolerance. Foltice highlights pitfalls like overlapping funds (SPY vs. VOO), buying unfamiliar assets (e.g., crypto) for “diversification,” and over-diversifying time, concluding that awareness helps clients and individuals apply diversification appropriately. Support the show Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter Bryan Foltice Personal Website - www.bryanfoltice.com Money Strong Website - www.moneystrong.net Instagram - www.instagram.com/dr.bryanfoltice Linkedin - https://www.linkedin.com/in/bryanfoltice Disclaimer: www.bryanfoltice.com/cv

July 24, 202626 min

The Psychology Behind Trading Cards - One Card, Three Different Motivations

Question, Comment? Send it Here! In this episode, Dr. Bryan Foltice introduces behavioral finance using a trading-card example where three people buy the same $500 Patrick Mahomes card but act differently: One sells it back to buy unopened boxes (the gambler), One files it into a personal collection (the collector), and one lists it for profit (the investor/flipper). He traces how trading cards evolved from childhood collectibles to the mass-produced “Junk Wax Era,” then surged again during the pandemic, with the industry reportedly at $50 billion in 2026 and projected to reach $90 billion. Foltice explains key behavioral concepts behind each type—overconfidence, availability bias, and variable rewards for gamblers; nostalgia, endowment effect, and identity for collectors; and mispricing, grading dynamics, herding, recency bias, and overconfidence for investors—arguing that identical assets can serve different psychological utilities. Support the show Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter Bryan Foltice Personal Website - www.bryanfoltice.com Money Strong Website - www.moneystrong.net Instagram - www.instagram.com/dr.bryanfoltice Linkedin - https://www.linkedin.com/in/bryanfoltice Disclaimer: www.bryanfoltice.com/cv

July 17, 202612 min

We Are Back!!! Why We Don’t Do What We Know We Should?

Question, Comment? Send it Here! We're back BABY!!! Dr. Bryan Foltice returns to relaunch The Bryan Foltice Behavioral Finance Podcast and refocus it on true behavioral finance rather than generic personal finance content. He explains how his work at Butler University, building Money Strong programming, and serving as department chair pulled him away, but with that role now over he’s energized to ramp the show back up and eventually pursue full professor. The podcast will examine why people fail to follow simple financial advice like spending less than they earn, using behavioral finance—defined as the study of how psychology affects investors and financial markets—to bridge the gap between academic research and practical application. Episodes will include bias-focused education, research insights (including around AI), market current events, and potential guests, and he invites listeners to submit topic ideas. 00:00 Welcome Back Intro 00:31 Host Background Reset 01:17 Money Strong To Now 03:14 Why Behavioral Finance 04:21 Personal Finance Gap 05:38 Behavioral Finance Defined 06:12 Markets And Current Events 06:38 Bridge Academia And Real Life 08:36 What Youll Learn Here 09:24 Community And Guests 10:28 Wrap Up And Subscribe 11:38 Outro Thanks Support the show Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter Bryan Foltice Personal Website - www.bryanfoltice.com Money Strong Website - www.moneystrong.net Instagram - www.instagram.com/dr.bryanfoltice Linkedin - https://www.linkedin.com/in/bryanfoltice Disclaimer: www.bryanfoltice.com/cv

August 18, 202526 min

Millions on the Field: NIL and the New Age of College Entrepreneurs

Question, Comment? Send it Here! Welcome to the Money Strong Monday morning broadcast with Dr. Bryan Foltice! In this episode, we break format to discuss the latest economic updates, including the state of the S&P 500, inflation rates, and interest rates, and their impacts. Dr. Foltice then dives deep into this episode's primary topic—NIL (Name, Image, and Likeness) money and its significant effect on student-athletes in U.S. colleges. Learn about the various tiers of NIL compensation, financial challenges, and opportunities athletes face, and the importance of providing the right support and education to help them navigate this new landscape. Also, get a sneak peek into Dr. Foltice's upcoming fall courses and plans for supporting student-athletes with money management and financial wellbeing. 00:00 Introduction and Today's Agenda 00:59 Economic Update: Market Trends and Federal Reserve Policies 06:57 Preparing for the Upcoming Academic Year 08:29 Deep Dive: NIL Money in College Athletics 15:34 Understanding the Tiers of NIL Earnings 26:23 Conclusion and Upcoming Discussions Check out www.moneystrong.net and www.bryanfoltice.com for more information. Support the show Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter Bryan Foltice Personal Website - www.bryanfoltice.com Money Strong Website - www.moneystrong.net Instagram - www.instagram.com/dr.bryanfoltice Linkedin - https://www.linkedin.com/in/bryanfoltice Disclaimer: www.bryanfoltice.com/cv

August 11, 202527 min

Financial Expert Makes Terrible Spending Decisions: Bad Luck or Something Deeper?

Question, Comment? Send it Here! How I Overspent $3300 in June & What I Learned From It | Money Strong Podcast In this episode of the Money Strong Podcast, Dr. Bryan Foltice shares his real-life experience of going over his monthly budget by $3300 in June. He provides insights into how unexpected expenses and impulsive spending can derail financial plans. Learn about his approach to dealing with the aftermath and how he aims to throttle back, simplify life, and regain control over his finances. Follow along as Dr. Foltice wraps up his series on financial well-being, emphasizing the importance of mindset in managing money. Don't miss his tips on how to bounce back from financial mistakes and build a more stable future. Remember to like, comment, and subscribe! 00:00 Introduction and Episode Overview 03:11 A Month of Overspending: My June Story 05:01 The Financial Impact of Summer Activities 08:37 Unexpected Expenses and Financial Missteps 12:44 The Day of Reckoning: Realizing the Overspend 16:04 Strategies to Regain Financial Control 17:30 Reflecting on the Root Causes of Overspending 21:03 Simplifying Life for Better Financial Health 23:41 Mid-July Update: Progress and Optimism 26:45 Conclusion and Final Thoughts Support the show Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter Bryan Foltice Personal Website - www.bryanfoltice.com Money Strong Website - www.moneystrong.net Instagram - www.instagram.com/dr.bryanfoltice Linkedin - https://www.linkedin.com/in/bryanfoltice Disclaimer: www.bryanfoltice.com/cv

August 4, 202515 min

Breaking Free From the (Financial) Shame Wizard and Anxiety Mosquito

Question, Comment? Send it Here! Tackling Financial Anxiety and Shame: Steps to Overcome Welcome back! In this episode, we delve into the often overlooked aspects of financial well-being—financial anxiety and shame. Dr. Bryan Foltice explains how money is more than just numbers; it's tied to our emotions and past experiences. Using references from the show 'Big Mouth,' he illustrates how anxiety and shame manifest, especially in finances. Dr. Foltice provides actionable steps to overcome these feelings: identifying triggers, removing judgment, taking small steps, building habits, and seeking support if needed. Join us in breaking down the stigma around financial struggles and improving your financial confidence. Don't miss next week's episode, where Dr. Foltice shares his own financial mistakes and how he's dealing with them. 00:00 Introduction and Recap 01:31 Understanding Financial Anxiety and Shame 04:15 The Impact of Financial Shame on Students 07:30 Steps to Overcome Financial Anxiety and Shame 12:47 Seeking Support and Resources 14:21 Conclusion and Upcoming Topics Support the show Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter Bryan Foltice Personal Website - www.bryanfoltice.com Money Strong Website - www.moneystrong.net Instagram - www.instagram.com/dr.bryanfoltice Linkedin - https://www.linkedin.com/in/bryanfoltice Disclaimer: www.bryanfoltice.com/cv

July 28, 202521 min

The Hidden Side of Finance: The Influence of Money Beliefs

Question, Comment? Send it Here! Unpacking Money Beliefs: Key to Financial Wellbeing Welcome to the Money Strong Podcast hosted by Dr. Bryan Foltice, where we dive deep into the psychology behind our financial decision-making. In this episode, we explore the hidden beliefs about money that stem from our upbringing, culture, media, and personal experiences. Dr. Foltice discusses common money beliefs such as money avoidance, money worship, and money vigilance, and how these beliefs impact our financial behaviors. Learn how to identify and shift these beliefs through awareness, questioning, and rewiring, to improve your financial wellbeing. Don't miss this insightful conversation designed to help you build confidence and take control of your financial future. 00:00 Introduction to the Money Strong Podcast 00:49 Understanding Money Beliefs 01:46 Types of Money Beliefs 05:14 Impact of Money Beliefs on Behavior 08:00 Common Money Beliefs and Their Effects 17:03 Shifting and Rewiring Money Beliefs 20:26 Conclusion and Final Thoughts Support the show Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter Bryan Foltice Personal Website - www.bryanfoltice.com Money Strong Website - www.moneystrong.net Instagram - www.instagram.com/dr.bryanfoltice Linkedin - https://www.linkedin.com/in/bryanfoltice Disclaimer: www.bryanfoltice.com/cv

July 21, 202519 min

Revamp Your Financial Habits: A Step-by-Step Approach

Question, Comment? Send it Here! Understanding and Changing Your Financial Behavior | Money Strong Podcast Join Dr. Bryan Foltice on the Money Strong Podcast as he dives into the psychology behind financial decision-making. Discover why knowing the right financial behaviors isn't enough and learn how to change your habits for the better. In this episode, Dr. Foltice discusses the influence of habits, emotions, and environment on financial behavior and introduces a five-step process to foster lasting change. He also shares personal insights and encourages listeners to start small, celebrate milestones, and prioritize progress over perfection. Tune in for actionable tips to improve your financial wellbeing and gain control over your money. 00:00 Introduction to the Money Strong Podcast 00:49 Understanding Financial Decision Making 01:53 The Challenge of Changing Financial Behaviors 02:37 Identifying and Changing Financial Habits 05:49 The Five-Step Process to Behavior Change 14:51 Replacing and Automating Positive Behaviors 17:19 Tracking Progress and Celebrating Milestones 19:17 Conclusion and Final Thoughts Support the show Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter Bryan Foltice Personal Website - www.bryanfoltice.com Money Strong Website - www.moneystrong.net Instagram - www.instagram.com/dr.bryanfoltice Linkedin - https://www.linkedin.com/in/bryanfoltice Disclaimer: www.bryanfoltice.com/cv