1. They watch or read the Mainstream Media
2. They have no knowledge of economic history
3. They are herd people AKA Sheeple
4. They are young and have never been burnt before
5. They are older but are stupid and buy the line this time it’s different
6. They believe they can time it and get out in time
7. They are like my brother in law and don’t even know what their 401k is invested in
Unstable
January 12, 2019 7:41 pm
What could go wrong?
Administrator
Author
January 12, 2019 8:09 pm
Piss poor behavioral finance patterns
January 12, 2019 9:19 pm
Im in the business and can tell you I speak to people daily that completely ignore their money. When i ask them very pertinent questions and if they thought about the answer they would make better decisions. Instead they lie to themselves and blurt out how satisfied they are with their losing strategy or dumb as a rock broker. I normally repeat the question then. Something like how or why does liking your broker or his location of office provide you a higher probability of success? Why do you specifically have that much money invested in that specific position? They just chalk it up to “diversification”. Then they retire and freak out about how they dont have enough money and cannot accept any volatility etc. Rather than making good decisions over a 20 year period they retire and get scared to make any decisions or take any appropriate risks and go broke slowly leaving no legacy or inheritance. Thats why this country is broke and the govt loves it. Govt hates an educated populace that has enough assets to stop producing. ANd paying taxes.
Apart from your terrible typing…What pearls of financial insight have you to offer us lesser beings ?
Seeing as you are a self proclaimed expert I bet you must be keeping Warren awake at 2am.
WHY?
1. They watch or read the Mainstream Media
2. They have no knowledge of economic history
3. They are herd people AKA Sheeple
4. They are young and have never been burnt before
5. They are older but are stupid and buy the line this time it’s different
6. They believe they can time it and get out in time
7. They are like my brother in law and don’t even know what their 401k is invested in
What could go wrong?
Im in the business and can tell you I speak to people daily that completely ignore their money. When i ask them very pertinent questions and if they thought about the answer they would make better decisions. Instead they lie to themselves and blurt out how satisfied they are with their losing strategy or dumb as a rock broker. I normally repeat the question then. Something like how or why does liking your broker or his location of office provide you a higher probability of success? Why do you specifically have that much money invested in that specific position? They just chalk it up to “diversification”. Then they retire and freak out about how they dont have enough money and cannot accept any volatility etc. Rather than making good decisions over a 20 year period they retire and get scared to make any decisions or take any appropriate risks and go broke slowly leaving no legacy or inheritance. Thats why this country is broke and the govt loves it. Govt hates an educated populace that has enough assets to stop producing. ANd paying taxes.
Apart from your terrible typing…What pearls of financial insight have you to offer us lesser beings ?
Seeing as you are a self proclaimed expert I bet you must be keeping Warren awake at 2am.