BIAS: Beware Overconfident Investing

Posted on July 13, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters and A.I.

SPONSOR: http://www.CertifiedMedicalPlanner.org

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OVERCONFIDENT INVESTING BIAS

Overconfident Investing Bias happens when we believe we can out-smart other investors via market timing or through quick, frequent trading. This causes the results of a study to be unreliable and hard to reproduce in other research settings.

Example: Data convincingly shows that people and financial planners/advisors and wealth managers who trade most often under-perform the market by a significant margin over time. Active traders lose money.

Example: Overconfidence Investing Bias moreover leads to: (1) excessive trading (which in turn results in lower returns due to costs incurred), (2) underestimation of risk (portfolios of decreasing risk were found for single men, married men, married women, and single women), (3) illusion of knowledge (you can get a lot more data nowadays on the internet) and (4) illusion of control (on-line trading).

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Filed under: "Ask-an-Advisor", CMP Program, economics, Experts Invited, finance, Financial Planning, Funding Basics, Glossary Terms, mental health, Portfolio Management | Tagged: , , , , , , , , , , , , , | Leave a comment »

Psychiatrist V. Psychologist V. Psychotherapist

Posted on July 13, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

DEFINITIONS
By A. I. and Staff Reporters

SPONSOR: http://www.CertifiedMedicalPlanner.org

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The terms “psychologist” and “psychiatrist” are often used interchangeably to describe anyone who provides therapy services, but the two professions and the services they provide differ in terms of content and scope. A major difference between the two types of experts is that psychiatrists can prescribe medication [Rx].

  • As physicians [MD/DO] psychiatrists are trained to recognize the ways biological processes affect mental functioning.
  • Psychologists are oriented to how thoughts, feelings, and social factors influence mental functioning.

PSYCHIATRIST

Psychiatrists are medical or osteopathic doctors who are able to prescribe psychotropic medications, which they do in conjunction with providing psychotherapy though medical and pharmacological interventions are often their focus.

PSYCHOLOGIST

Though many psychologists hold doctorate degrees, they are not medical doctors, and most cannot prescribe medications. Rather, they solely provide psycho-therapy, which may involve cognitive and behavioral interventions, psycho-dynamic or psycho-analytic approaches.

NOTE PROTECTED TITLE: The title of “psychologist” can only be used by an individual who has completed the required education, training, and state license requirements. Informal titles, such as “counselor” or “therapist,” are often used as well. Other mental health care professionals, such as licensed social workers, can claim those titles, but not the title of “psychologist.”

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Filed under: Ask a Doctor, Career Development, CMP Program, Drugs and Pharma, Glossary Terms, Health Economics, Health Insurance, Health Law & Policy, Healthcare Finance, mental health | Tagged: , , , , , , , , , , , , , , , , , | Leave a comment »

HEALTH CARE SPENDING: Projected to Exceed $8.5 Trillion by 2033

Posted on July 13, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

By Health Capital Consultants LLC

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On June 25th, 2025, the Centers for Medicare & Medicaid Services (CMS) released its forecast on U.S. healthcare spending through 2033. The analysis, published in Health Affairs, estimated healthcare spending growth in 2024 and projected the growth into 2033. CMS found that overall healthcare spending growth has decreased slightly but is still elevated compared to pre-pandemic levels, and is expected to continue to moderately grow.

This Health Capital Topics article examines the factors underlying the forecasts. (Read more…) 

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Filed under: "Ask-an-Advisor", Accounting, Ethics, Funding Basics, Health Economics, Health Insurance, Health Law & Policy, Healthcare Finance, Interviews, Investing, Managed Care, Op-Editorials, Sponsors | Tagged: , , , , , , , , , | Leave a comment »