Nicolai Tangen, CEO of Norges Bank Investment Management, describes the social and psychological dynamics of seeking advice from peers.
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“They, because you must be very clever who asked me for advice. You know, he must be really clever. He understands how clever I am, and therefore he wants to have my opinion.”
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More from Nicolai Tangen
Insight
Tangen: Buying before researching creates urgency and relies on pattern recognition
“Well, I did that quite a lot, and I think it's, why do you want to do that? Well first of all, you, if your gut feel is good, and, you know, people don't believe in gut feel if you call it gut feel. If you call it pattern recognition, more people believe in it…”
Tangen: Contrarians should do less AI and more real estate
“Well, I think the stuff to lean against if you really want to do the opposite of everybody else would be to, you know, do less AI related investments and more real estate investments.”
Tangen: Passive investing tends to perpetuate market bubbles
“The natives is that you will, I mean, they would typically perpetuate bubbles because with more passive money, they go into, you know, stocks which have done historically well and they perpetuate the moves.”
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