My Money MD

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Doctors who are Collectors: Beware of Buying Illicit Antiquities

July 10, 2017


Hobby Lobby: Nipped by a bargain, or something worse?

Becoming a Better Investor: Curbing The Herding Effect

June 14, 2017


Taking a closer look at the sudden rush to buy stocks.

Becoming a Better Investor: Hindsight Bias

May 31, 2017


As an investor, it's critical to document your reasons and expectations for purchasing stock. This helps to counter hindsight bias, which tends to make people overstate after the fact what they anticipated before they made the decision. This is an approach professional investors use, but other individuals do not.

Preparing for Investing Unknowns

May 17, 2017


Are we on an investment cliff? It’s in our nature to assume that current trends – whether good or bad – will continue. But it’s important to keep in mind that the market is random. Predicting its future from the recent past is less than accurate. That’s where the statistical principle, regression to the mean, comes in.

Space Travel on a Budget

April 12, 2017


Elon Musk is now saying that private citizens can fly to the moon. The cost? A lot — millions and millions and millions. But, there is a way for us lesser beings to participate. By visiting the Atacama Desert, the driest place on earth. Its terrain is like the moon. The advantage to more minor mortals is that the price is minimal compared to a moon jaunt, plus getting there and coming home is easier (also safer, I assume).

Doctors who are Collectors: More than Portfolio Diversification

April 05, 2017


Often doctors are collectors. In fact, some diversify their financial portfolios with fine art, wine or cars. This begs the question, what are collectors aside from sometimes being physicians? Two philosophers, John Dewey (1859-1952) and Jean Baudrillard (1929-2007), tackled this issue.

The Physiological Processes that Drive Financial Decisions

February 14, 2017


Neuroeconomics is an emerging field that uses economics and neuroscience to better understand the financial decisions that we make. Behavioral economics, which incorporates elements of psychology, is also helping us better understand monetary behavior.

How to Overcome Mental Fatigue During the Holidays

December 22, 2016


If there's one time of year that typically causes extra stress, it's during the holidays. But there are ways to overcome the mental fatigue.

Charitable Donations: The Picture Matters

December 15, 2016


The type of picture that charities use to encourage people to donate makes a big difference.

Which Gender Is More Likely to Give to Charity?

December 08, 2016


When we give to charities, money flows out from our pocket into theirs. This means more for the charities and less for us. The factors that influence this transfer of funds is important to understand as it affects our bottom line if we give.