PBS' Nightly Business Report and Kiplinger's Personal Finance Partner for Series on Investor Psychology

"Your Mind & Your Money"

Begins October 19 at 6:30 p.m. on WGVU TV

Why is it that people often make major financial decisions on the basis of "gut feelings" rather than logic? And why do investors recklessly buy into market bubbles-even when they know that prices are far out of line? PBS' Nightly Business Report and Kiplinger's Personal Finance will examine investor psychology in the upcoming series "Your Mind & Your Money" beginning Monday, October 19.

The series, airing twice monthly on NBR, with companion articles in Kiplinger's Personal Finance and at www.Kiplinger.com, will look at findings from recent studies in the fields of behavioral finance and neuroeconomics. Special series reporter Dan Grech will interview leading researchers and experts.

The first report in the series will feature Daniel Kahneman, the psychologist and winner of the 2002 Nobel Prize in Economics (among other things, Kahneman showed that the psychological pain of losing money far outweighs the joy that results from financial gains). The series will also feature Jonathan Cohen, a neuroscientist at Princeton University who believes that the tendency of many people to spend for today rather than save for tomorrow is actually "hard-wired" into their brains.

On the following Monday, October 26, the series will continue with an interview with behavioral finance pioneer Richard Thaler. A professor at the University of Chicago, Thaler was the first to connect Kahneman's findings to financial decision-making processes.

Other segments in the series will delve into how investors may be influenced by such matters as "herding" (the tendency to follow the crowd), fear of the unknown, and perceptions of patterns that don't exist. Additional information and resources for each of the subjects covered will be available on the "Your Mind & Your Money" section of NBR's website (www.pbs.org/nbr).

""Your Mind & Your Money" will do more than just report the findings of academic studies," said NBR Executive Editor Rodney Ward. "This series will show investors how to apply the lessons of behavioral finance to better understand their own impulses and to improve their own decision-making."

"At Kiplinger's Personal Finance, we have been helping our readers invest to reach their financial goals for more than 60 years," said Kiplinger's Editorial Director Kevin McCormally. "We are pleased to join Nightly Business Report to help Americans understand and embrace their emotions and predilections - and the important roles they play in investment decisions."