One Study Found That People Who Just

One Of The Major Biases In Risky Decision Making Is Optimism. Optimism Is A Source Of High-risk Thinking.

Many People Will Admit That They Made A Mistake [putting Money In Dot-coms Or Telecoms At Their Peak] But That Doesn’t Mean That They’ve Changed Their Mind About Anything In Particular. It Doesn’t Mean That They Are Now Able To Avoid That Mistake.

We Deeply Want To Be Led By People Who Know What They're Doing And Who Don't Have To Think About It Too Much.

After A Crisis We Tell Ourselves We Understand Why It Happened And Maintain The Illusion That The World Is Understandable. In Fact, We Should Accept The World Is Incomprehensible Much Of The Time.

Question: So Investors Shouldn't Delude Themselves About Beating The Market? Answer: "they're Just Not Going To Do It. It's Just Not Going To Happen."