Contrast-Caused Misperceptions In InvestingRupert Hargreaves
Part three of a short series on Charlie Munger’s Human Misjudgment Revisited:
“The sensation apparatus of man is over-influenced by contrast – it has no absolute scale but it has a contrast scale. And it’s a scale with quantum effects too – it takes a certain percentage chance before it’s noticed. Here the great truth is that cognition mimics sensation. People are manipulating you all day with contrast. If it comes to you in small pieces you’re likely to . . .
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