If you trade stocks, you need an appetite for risk. But how much is too much? And can your risk tolerance change over time or is your “risk fingerprint” set in stone?
Stephen knows there’s no escaping risk once you place a trade. But he’s curious about how people decide what level’s right for them.
Michele says there are many factors to consider. It’s not just about personality. How comfortable you are in your immediate environment can impact your approach to risk. Some people’s moods change with the room temperature!
Risk tolerance is situational. Michele gets into the many ways a person’s risk tolerance can shift based on their foundation of safety at the time.
Stephen finds risk fascinating. Michele Wucker’s book changed how he thinks about appropriate risk.
Kim loves how Michele Wucker flips the risk script. She points out that people who force themselves into ‘safe’ jobs and lifestyles sometimes suffer long term.