FYI: SSomething I try to stress in these columns is the importance of a valid process. Sure, I have a fondness for behavioral economics, but that’s because I know how cognitive errors can so easily derail our thought processes. Rather than impose a belief system on the reader (“ABC asset class is great!”), I prefer instead to help readers think through their own approaches: the classic “give a fish” versus “teach to fish” test, which dates back (literally) to biblical times.
Regards,
Ted
https://www.bloomberg.com/view/articles/2017-02-27/don-t-let-a-bad-process-derail-your-investments
