Your Money & Your Brain

It is a challenging task to describe something really complicated such as neuroeconomics in a simple way. Benefiting from scientific research is hard to do for most of us layperson until someone comes along to show the practical use to us. Jason Zweig does a really good job in showing us how our investing brains are wired and how we can improve on our biases and thought processes. Your Money & Your Brain is an interesting read and one that is much more about the brain and human response than it is about money.

The book shows in fascinating detail how different parts of the brain react to the types of stimuli presented to us by investing, whether it’s greed, prediction, confidence, risk, fear, surprise or regret. Zweig takes us through how the brain reacts under those pressures, making the kinds of decision investors have to make and demonstrates not only what happens in the brain, but how our natural responses make us highly unsuited to the whole business.

Investing brains often drive us to do things that make no logical sense, but make perfect emotional sense. That makes us partially irrational but it also makes us human. Our brains were originally designed to get more of whatever would improve our odds of survival and to avoid whatever would impair the odds. Emotional circuits deep in our brains make us instinctively crave whatever feels likely to be rewarding and dodge whatever seems to be risky.


Zweig borrows many findings from Kahneman and Tversky but applies them specifically on the topic of our money. It is therefore a much more hands-on book than Thinking, Fast and Slow which makes it easier and more entertaining to read while for Kahneman, you need to work the book really hard and invest a lot of energy and time to extract all the valuable information. 

The book helps us getting one step closer to understanding how our brain works and how we think as a person, especially when it comes to money. I can therefore recommend the read as understanding how we are wired should be as important in investing as knowing the technicalities of how to value a company or how to structure our asset allocation. 

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Thomas Tiroch, aka TwiceT, aka TT.

My one-line pitch is: I am a business addict. In my early 20s, I graduated in Business Administration with a major in Entrepreneurship. Recently, now in my early 30s, I successfully completed a program on Venture Capital and Private Equity.

While formal education certainly does not hurt, I do not think that it is essential for entrepreneurial success. I have a strong opinion on gaining experience in projects or companies by having "own skin in the game". There are just so many skills a business school or university cannot teach us.

From 2008 to 2013 I enjoyed a professional career in playing some of the world’s most popular card games. Yes, these are skill games and you can even make a few $$.

While playing millions of poker hands (mostly online, but towards the end also offline in casinos) I worked as a content video producer and coach for the biggest online poker school. Beyond that I also offered private coachings to players around the world. My blog posts and strategy videos had > 1,000,000 views from platform members. Even though I quit contributing to the blog in 2013 it still is #1 in terms of all-time views on the English site.

At the end of my career I wrote a book (The Education of a Modern Poker Player) with JB, who is a math professor in Nottingham, UK, and Manu, who - fast forward three years - is now the BO$$ of Adefy. As JB tricked me into writing a book with him, I tricked Manu into moving to Vienna in order to join forces with us and work on our united mission.

Things are moving at an enormous pace and we are living in exciting times. My way of experiencing and influencing our world is mainly through my entrepreneurial lenses. Especially since 2013 I dived into full-time business mode and I don't see that changing anytime soon. For my passive stakes I try to mostly invest in companies that generate a positive and sustainable impact, mostly in the energy industry (consulting, renewables, energy efficiency). While I might be below average in many skills, I consider mindset, adaptability, competitiveness and work ethics my biggest strengths.

Interested in: Poker. Venture Capital and Private Equity. Renewables. Energy efficiency. E-mobility. Performance Marketing. Finance. Management. Investing.

Hobbies: Golf. Tennis. Badminton. Reading. Racing. Snowboarding.

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