One of the misconception is that agile process doesn't do enough planning. In reality, Agile does lot more planning and risk mitigation than traditional processes. Agile focuses on planning very often instead of doing comprehensive and assumption based planning once. Agile Planning (a.k.a. planning onion) has 6 levels - Strategy, Portfolio, Release, Iteration, Daily, and Continuous.
The following video blog peels off each layer of planning onion to provide details of planning at each level.