Key Takeaways

• Denise Shull, who applies neuroeconomics and modern psychoanalysis and who inspired Billions’ Wendy Rhoades, argues that emotions play a role in how the brain processes risk.
• According to Shull, investors constantly predict whether something is “good or bad for them,” and that prediction shows up as a feeling rather than a purely rational thought.
• Neuroscience shows people cannot make decisions without emotion, meaning investors must learn to recognize their feelings rather than suppress them.
• Rapid changes, new players, and evolving structures make it harder for investors to understand the “poker game” behind price movements.