Jason Zweig, of the Wall Street Journal, has some thoughts on investing:
“…instead of opening their minds to the possibility of being wrong, investors often wall themselves off from new information that could threaten their views.”
“The common culprits in all this are two quirks of the human mind that psychologists call confirmation bias and hindsight bias. The first drives us to seek and favor evidence that confirms our pre-existing beliefs while ignoring warning signs that we might be wrong. The second compels us, after everyone knows the outcome, to believe we saw it coming all along.”
Here is the link: http://blogs.wsj.com/moneybeat/2016/12/30/to-be-a-great-investor-worry-more-about-being-wrong-than-right/
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