Anthony “Tony” Cerino, financial advisor at UBS, discusses the influence of psychological biases and emotions that can affect market outcomes. Why do investors lack self control and act against their own best interests to make decisions when it comes to money, and why do people base decisions on their own personal biases or fears vs. facts? Tony explains the three types of biases that clients have, and the importance of understanding their life goals and reframing their short- and long-term time horizons to create the most effective, comprehensive and sustainable financial plan.