Kristof De Witte（联合国大学国际社会政策研究所） 原文链接： https://www.sciencedirect.com/science/article/pii/S2214635021000150 【本期看点】 声明：本系列文章基于原期刊目录和摘要内容整理而得，仅限于读者交流学习。如有侵权，请联系 删除。 本文基于以下论文整理而得： Francisco Pitthan, Kristof De Witte (2021). Puzzles of insurance demand and its biases: A survey on the rol e of behavioural biases and financial literacy on insurance demand. Journal of Behavioral and Experimental Finance 30, 100471 作者： Francisco Pitthan（比利时鲁汶大学） 保险需求及其偏差之谜： 行为偏差与金融素养 对保险需求影响的调查 摘要 本文系统梳理了保险需求领域的未解之谜，并从行为经济学视角对保障不足现象 ...

I recently joined The REIT Forum and if you are looking for more investment ideas like this one, get them exclusively at The REIT Forum with access to our subscriber only portfolios.Duolingo, Inc. (NASDAQ: DUOL ) just reported its Q3 FY25 earnings , and the stock got slaughtered despite the company posting a beat on both its top and bottom lines.Amrita runs a boutique family office fund in beautiful Vancouver, where she leads the investment strategy for the family fund. The fund's objective is to invest cap ...

[Applause] [Music] Although it was already over 5 years ago, I still remember vividly to this day that very first announcement that school was coming to a close at the onset of the CO 19 pandemic. Of course, being a mere 11 years old, I didn't understand the true scale of the matter beyond simply the fact that I was getting what I saw to be a longer summer break. But as time kept on passing and we went from March to April, the challenges of the pandemic began to present themselves to me in a very realistic ...

Core Insights - Maintaining a high Net Promoter Score (NPS) is essential for customer acquisition and retention, shifting focus from mass marketing to network-based advocacy [1][2] - The survey reveals that lower fees and recommendations from friends or family are the primary drivers for customers switching banks, yet only 1.93% of consumers globally changed their main bank in 2025, highlighting the importance of reputation and NPS [2][10] - Financial education is crucial, as many consumers lack confidence in investing, with only 33% investing for retirement and barriers like limited understanding persisting [8][9] Customer Behavior and Preferences - Satisfaction levels in banking drop significantly in areas such as pricing transparency and loyalty rewards, indicating a gap in traditional banks' focus on long-tenure clients [3] - Despite the dominance of online channels for daily activities, over half of consumers still prefer visiting branches for account openings and mortgage applications, particularly affluent clients [6][7] - The paradox of modern banking shows that while digital convenience is standard, personal connection and confidence remain key differentiators [7] Technological Investments - Banks are heavily investing in generative AI and cloud infrastructure to enhance customer support and reduce operating costs, allowing for lower fees and faster services [5] - Real-time payment systems now cover 79% of the global population, but only 19% utilize these systems for both peer-to-peer and retail purchases, indicating a need for broader adoption [11] Payment Models and Security - Open-banking-driven account-to-account payments are gaining traction, especially in regions like Asia-Pacific and the Middle East, enabling instant settlements and faster access to funds for merchants [12][13] - Security remains a critical factor in mobile payment adoption, with 30% of non-users willing to adopt mobile wallets if they offer better security than traditional methods [17] - The rise in financial fraud, with 28% of consumers affected in 2025, emphasizes the need for banks to implement advanced AI-based detection and consumer education [19][20] Strategic Imperatives - The report emphasizes that success in 2025 will depend on balancing automation with authenticity, as consumers expect personalized service while ensuring the safety of their money and data [21] - Institutions that achieve a balance of responsible data use, fair pricing, financial education, and secure transactions will lead the next phase of global banking transformation [22]

Core Insights - Hims & Hers Health, Inc. (NYSE: HIMS) was downgraded to Hold in February, reflecting concerns about stock price volatility since then [1] Company Overview - Hims & Hers Health, Inc. operates in the healthcare sector, focusing on providing telehealth services and wellness products [1] Investment Strategy - The investment strategy of a boutique family office fund led by Amrita emphasizes sustainable, growth-driven companies that aim to maximize shareholder equity [1] - The fund's approach includes democratizing financial literacy and simplifying complex macroeconomic concepts for better understanding [1] Market Position - The company has experienced significant stock price fluctuations, indicating a volatile market environment [1]

Core Argument - Commerce is not a backup plan but a vital engine driving the economy and every business transaction [2][3] - Commerce connects various sectors, enabling creativity, innovation, and societal structure [4] - Commerce education is essential for financial literacy and self-protection in the digital age [13][14] Economic Impact - Global e-commerce sales reached $63 trillion, indicating commerce's significant role [8] - The service and commerce sector employs 50% of the global workforce [9] - Digital commerce demonstrated resilience during the COVID-19 pandemic, with companies like Amazon hiring 175 thousand employees in 3 months [9] Skills and Employment - Commerce jobs require human skills like empathy, creativity, and trust, making them resilient to automation [11] - Financial literacy is a growing need, addressed by commerce professionals [7] Societal Perspective - Intelligence should not be solely measured by science-related knowledge; commerce also requires intelligence [5][6] - Society should equally respect science and commerce, as both are crucial for progress [20][25] - Commerce ensures affordability and sustainability, complementing scientific advancements [19] Real-World Examples - Entrepreneurs like Jack Ma and Ratan Tata demonstrate that commerce drives innovation and economic contribution [14][15] - Even startups, non-profits, artists, and doctors rely on commerce skills [16][17] Financial Risks - Americans lost $125 billion to scams due to lack of financial literacy [12] - Investment scams accounted for $6 billion of the total losses [12]

Core Insights - Moomoo has launched the "Student Stock Showdown" challenge in collaboration with W!se to enhance financial literacy among high school students through interactive learning and simulated trading experiences [1][6]. Group 1: Initiative Overview - The challenge aims to engage thousands of high school students in New York State, providing a risk-free environment for developing investing skills through a simulated trading competition [2]. - Participants will have access to various online and offline investment courses to complement their learning, creating a comprehensive educational experience [2]. Group 2: Market Trends - There is a significant generational shift in investing, with Gen-Z starting to invest at an average age of 19, which is notably younger than previous generations [4]. - Moomoo's data indicates that the proportion of US clients aged 18–24 has increased from 8% in 2020 to 20% in 2025, with their average account balance rising over 24 times during the same period [4]. Group 3: Educational Tools and Features - Moomoo's paper trading feature allows users to trade with virtual funds under real-market conditions, helping them refine their investment strategies [5]. - This feature has been popular among millions of investors globally and is now being introduced to high school students through the challenge [5]. Group 4: Challenge Details - The "Student Stock Showdown" will run from October 14 to January 16, lasting 13 weeks, with participants using dedicated competition accounts on Moomoo's platform [6]. - The top three students will receive cash prizes up to US$2,500, along with trophies, certificates, and internship opportunities, while outstanding schools and educators will also be recognized [6]. Group 5: Organizational Background - Moomoo is a global investment and trading platform that provides user-friendly tools and insights to empower investors [8]. - As a subsidiary of Nasdaq-listed Futu Holdings, Moomoo operates in multiple countries and has received various accolades for its innovative approach to investing [9].

Core Insights - The article emphasizes that generational wealth is not solely about the money passed down, but rather the financial wisdom and discipline necessary to manage it effectively [2][3][4] Group 1: Generational Wealth - Many families fail to maintain wealth across generations due to a lack of financial discipline, leading to a phenomenon known as the "third-generation curse," where 70% of families lose wealth by the second generation and 90% by the third [4] - The importance of teaching financial literacy is highlighted, as less than half of Americans can answer basic finance questions correctly, with only 48% demonstrating knowledge of fundamental financial principles [5] Group 2: Financial Literacy - Despite a lack of financial literacy, many individuals overestimate their financial knowledge, rating themselves an average of 5.1 out of 7, while less than 30% can answer all financial questions correctly [6] - The article points out that younger generations are influenced by modern financial trends and may have different perspectives on wealth accumulation compared to previous generations, particularly in light of changing economic conditions [7][8]

Financial Literacy - Financial literacy is essential for effective money management and securing a comfortable future [1]

Financial Inclusion and Democratization - Finance is no longer exclusive but inclusive, common, and everywhere, accessible through digital means like apps, QR codes, and UPI [5][6] - Tokenization allows everyday people to participate in wealth creation by breaking down large assets into tiny tradable pieces, making investments accessible with small amounts like 100 rupees [16][17] - The RBI's digital rupee pilot program has the potential to reshape payments as a central bank-backed programmable currency [18] Economic Growth and Empowerment - MSMEs and startups are driving real change and building lives, particularly for women entrepreneurs who are creating opportunities and accessing credit through dedicated government schemes [7][8][9] - Rural entrepreneurs are turning tradition into enterprise with seed funding, mentorship, and tax benefits, achieving financial independence [11] - India is exporting confidence and promoting its currency through special rupee Vostro accounts with over 30 countries, reducing reliance on foreign exchange [12][13] Technological Transformation - The intersection of finance and technology is driving innovation, with examples like QR code payments for everyday transactions [4] - Cryptocurrency and tokenization are reshaping the financial world by providing autonomy and infrastructure that doesn't rely on traditional intermediaries [14][15] - Finance is evolving with technology, empowering individuals to take control, make informed choices, and participate in the financial system [3][22]