Joe Wiggins

A connoisseur of human folly. I write about investor behaviour.

[Joe Wiggins @BehaviouralJoe]

The Intelligent Fund Investor is published today!

Most of us are fund investors, but there are very few books that can help help us with the unique set of behavioural challenges it poses. The aim of The Intelligent Fund Investor is to fill this gap.

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[Joe Wiggins @BehaviouralJoe]

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[Joe Wiggins @BehaviouralJoe]

The damage done to investment writing by AI generated content is far worse than its incessant and tedious 'its not just X, it's Y' framing. Its widespread use kills the very human benefits of writing and reading.

[Joe Wiggins @BehaviouralJoe]

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[Joe Wiggins @BehaviouralJoe]

When markets feel particularly challenging investors often feel the urge to engage in activities with a very low chance of success - such as trying to time markets. This is a very human response to uncertainty and also a very costly one.

[Joe Wiggins @BehaviouralJoe]

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[Joe Wiggins @BehaviouralJoe]

We should expect a lower financial return from assets that make us feel good when we own them.

[Joe Wiggins @BehaviouralJoe]

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[Joe Wiggins @BehaviouralJoe]

Financial market commentators face a similar challenge to psychics. They are expected to predict the future, but as that is impossible they have to talk in ways which makes it look like they can.

[Joe Wiggins @BehaviouralJoe]

Ask not for whom the AI disruption bell tolls, it tolls for thee.

[Joe Wiggins @BehaviouralJoe]

https://t.co/LoXFx8ZSk1

[Joe Wiggins @BehaviouralJoe]

It is hard to predict the winners and losers from AI disruption, but it seems likely that some companies with large intangible assets will find out that they were intangible for a reason.

[Joe Wiggins @BehaviouralJoe]

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[Joe Wiggins @BehaviouralJoe]

The more an asset price goes up the more convincing the story is about why it went up, which makes the price go up more...

[Joe Wiggins @BehaviouralJoe]

A 2024 study of 160 years of New York Times' articles found that equity market returns were higher following periods when there were more headlines about war.

Dealing with geopolitical risk is not straightforward for investors.

[Joe Wiggins @BehaviouralJoe]

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[Joe Wiggins @BehaviouralJoe]

I asked three AI models to make predictions about financial markets in 2026. Here is what they said...

[Joe Wiggins @BehaviouralJoe]

https://t.co/2FHLnsRmHV

[Joe Wiggins @BehaviouralJoe]

Our ability to meet our long-term investment objectives is really about one thing: managing the conflict between our desire to save for the future and our craving to make ourselves feel better in the present.

[Joe Wiggins @BehaviouralJoe]

https://t.co/8o4QZ7dNlT

[Joe Wiggins @BehaviouralJoe]

Last year I ran a survey asking finance professionals 10 questions about their market expectations for 2025. Unsurprisingly their predictions were a bit wayward. But does the incredible difficulty of forecasting short-term market moves matter for most investors? Not one bit.