Tag: cognitive biases

Guest Post by Alex Berenson

Why can’t policymakers stop pushing obvious failures?

Your first loss is your best loss.

This is simple, brilliant Wall Street advice, another way of saying, Don’t throw good money after bad.

The best investors never get emotionally involved, especially when they’re down. They don’t panic if a stock goes against them. But they constantly reevaluate their positions as new facts arrive. If they see they’ve made a mistake, they admit the truth to themselves, pull the trigger, and sell, even if they’re down.

Sounds easy. But it’s not. Admitting you’re wrong is hard. It’s hard on Wall Street – and everywhere else.

Continue reading “On cognitive bias, Zach Wilson, and mRNA jabs”

Hat tip Boston Bob

Via Lifehacker

Cognitive bias occurs when we make subjective assumptions about people or situations based on our own perception of reality. This can lead to irrational decisions and judgement calls that affect those around us. They can alter the way you see everything without you even realising it.

Identifying the problem is the first step towards rational thinking. Here are 24 distinct biases that you need to be aware of – from “declinism” (believing the past was better than the present) to “fundamental attribution error” (judging others on their character but yourself on the situation).

Continue reading “24 Cognitive Biases You Need To Stop Making”