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Published on:

11th Apr 2025

Fix It Friday - Rich Yet Reckless: The Surprising Investment Missteps of the Ultra Wealthy

Welcome to another insightful episode of Fix-It Fridays, the podcast segment that simplifies financial strategies to help you make smarter decisions. Hosted by Jonathan Blau, CEO of Fusion Family Wealth. Each episode dives into common biases that impact our financial choices—and how to fix them. This week, Jonathan discusses the common investing behavioral mistakes the ultra-wealthy make. He shares insights from TIGER 21 and the analysis of billionaire investing habits, bias, and strategy. Tune in!

IN THIS EPISODE:

  • 00:00 Podcast Intro and Disclaimer
  • 01:29 What is TIGER 21 and what does the acronym stand for?
  • 02:52 Behavioral Mistakes of Ultra-Wealthy Investors
  • 05:24 What is Overconfidence Bias in Investing?
  • 06:25 What happened with the TIGER 21 Madoff Ponzi Scheme Scandal?
  • 07:57 Familiarity Bias In Real Estate Investments
  • 08:59 The Correlation Between Wealth and Investment Wisdom

KEY TAKEAWAYS:

  • TIGER 21: A Glimpse into Billionaire Investing - Overview of TIGER 21, an investment group managing $170 billion.
  • Behavioral Biases Affecting Billionaire Investors - Ultra-wealthy investors are not immune to common investment biases, often magnified by their resources and confidence.
  • Case Studies of Billionaire Investment Missteps - Real-world examples show the dangers of recency bias and overconfidence in investment decisions.
  • Human Nature and Investing - Understanding and mitigating biases is crucial for successful investing, regardless of wealth.


ABOUT THE HOST: Jonathan Blau is the President and CEO of Fusion Family Wealth, founded in 2013 to focus on behavioral finance and guide clients toward rational financial decisions. A sought-after speaker in wealth management, Jonathan previously held senior roles in tax and estate planning at Arthur Andersen. He has a BS in Finance, an MS in Taxation, and an MBA in Accounting. Based on Long Island, Jonathan is active in the local business community, supports causes like the Middle Market Alliance and Sunrise Day Camp, and enjoys boating with his family.


RESOURCE LINKS 

Fusion Family Wealth - Website

Jonathan Blau - LinkedIn


Please Note: No individual has been provided nor promised any direct or indirect economic benefit for sharing Fusion podcasts/articles/opinions. No post should be construed as any assurance that a reader will find the podcast/article/opinion beneficial. Please click below for important disclosure information.


https://www.fusionfamilywealth.com/disclosures

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About the Podcast

Crazy Wealthy Podcast
Welcome to The Crazy Wealthy Podcast, a resource for understanding and mastering the biases that often lead to short-term personal finance, investing, budgeting and savings decisions and strategies that are counter to our best interests over the long-term. Whether you are a professional, entrepreneur, young adult, retiree, or family looking to protect your current wealth and secure a financially stable future, this podcast provides the latest insights into investor behavior in the context of current trends and current events that may influence investor perceptions of the financial markets and interfere with the ability to make rational wealth planning decisions.


Hosted by financial and investor behavior specialist Jonathan Blau, the podcast simplifies the complexities of wealth management and seeks to offer practical, actionable advice listeners can implement immediately. Each episode covers topics ranging from money management and investor behavior fundamentals to prudent investment strategies, equipping listeners with the knowledge and tools needed to build, grow, protect and be comfortable with their wealth.


The podcast covers essential financial topics and behaviors that may help listeners increase the odds of achieving their financial goals. It also breaks down complex financial news and market updates, keeping listeners informed and empowered and helping them to learn not to reflect any fears or euphoria incited by the news by altering their financial plans or portfolios in response. Whether building wealth early in a career, navigating the financial challenges of entrepreneurship, or preparing for a comfortable retirement and family legacy, the thought-provoking insights offered guide listeners every step of the way.


Designed to be relatable and practical, The Crazy Wealthy Podcast caters to all financial experience levels. The podcast presents financial concepts clearly and concisely, endeavouring to enable listeners to take actionable steps immediately. It seeks to provide the tools and knowledge necessary for informed financial decisions that lead to empowerment and minimize the negative influence that human biases and emotions often have on financial decisions.


Listeners can gain straightforward financial and behavioral investment counseling insights, learn how to develop a personal financial plan, discover wealth-building strategies, and stay current with the latest financial news and trends, especially in the context of behavioral finance. In depth interviews with top professionals in the financial and behavioral finance industry, current investors and others provide valuable perspectives and proven tactics for financial success.


Whether planning for retirement, managing family finances, or growing a business, The Crazy Wealthy Podcast can serve as a trusted resource for achieving financial freedom. Subscribe today and take the first step toward a more secure financial future!


About the Host

Jonathan is the President and CEO of Fusion Family Wealth, a financial advisory firm he
founded in November 2013. Behavioral finance is an important aspect of his business and he brings a thought-provoking perspective and clarity to his work with clients by seeking to teach them how to consistently make rational money decisions under conditions of uncertainty.

Jonathan is a sought-after speaker for podcasts and media publications, bringing a fresh wealth management and investing perspective shaped by insights from the world of behavioral finance.

His insights and clarity on working with clients make him a distinguished voice in the field, illuminating and demystifying the complexities of financial decision making.
Jonathan honed his planning and technical skills during his tenure as a senior tax and estate planning specialist in the Tax and Family Wealth Planning division of Arthur Andersen from 1992 to 1996. In his free time Jonathan enjoys boating.


DISCLOSURE:
https://www.fusionfamilywealth.com/disclosures

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