FYI: A few years ago, I read Michael Mauboussin’s “The Success Equation: Untangling Skill and Luck in Business, Sports, and Investing.” It remains one of my dozen favorite investment-related books. I finally got around to reading his “Think Twice: Harnessing the Power of Counterintuition” on how we make—and all too often mismanage—decisions (including, but not limited to, investment decisions). He explains that mistakes are made because we fall victim to simplified mental routines that prevent us from coping with the complex realities. He also shows us how to recognize and avoid common mental errors.
Regards,
Ted
https://www.etf.com/sections/index-investor-corner/swedroe-power-counterintuition?nopaging=1
