BEHAVIOR OVER INTELLIGENCE: ANALISIS MINDSET MORGAN HOUSEL DALAM MEMBENTUK INVESTMENT THINKING PADA GENERASI Z

Abstract

This study aims to analyze the role of behavioral factors compared to intelligence in shaping the investment thinking of Generation Z from the perspective of Morgan Housel. Using a descriptive quantitative approach, data were collected through a survey distributed via Google Forms to 50 respondents. The results indicate that although respondents perceive themselves as making rational investment decisions, behavioral factors such as emotions, social influence, and trend following tendencies remain dominant. This finding reveals a gap between perceived rationality and actual behavior supporting the view that successful investing is more influenced by behavior than intelligence. Therefore developing sustainable investment thinking in Generation Z requires strengthening emotional control, awareness of biases, and a long term orientation.