Beating The Dumb Money Effect
Investors routinely underperform the indices on which they trade because they do the exact opposite of what we all know is correct – they buy high and sell low. As easy as it is to point out the mistake, it’s much harder to find a solution that investors will stick to. Michael J. Mauboussin, Head of Global Financial Strategies for Credit Suisse Investment Banking argues that investors need a process that takes them out of the rough and tumble of the market and keeps their biases in check.
How the interpreter gets investors into trouble
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