Autopilot investing
Posted : December 6, 2005 at 3:23 pm [America/Los_Angeles]
Sorry folks but your brain is a very, very bad computer; irrational, clueless, extremely vulnerable to mistakes. Junk it! Get an upgrade, like Kahneman’s “permanent autopilot portfolio.” Then set your savings up so new money is automatically transferred from your bank into your portfolio. Get your error-prone brain out of the loop.
- Paul B. Farrell, “Nobel Prize for ‘clueless’ investors”
Try out the 8 psychological rules that Paul talks about in his article. Good stuff for “all” investors irrespective of whether you are a rookie, a pro or somewhere in between when it comes to investing your money.
- Anand
Category: Finance |
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