This mistake create the concept of the disposition effect most investors prefer to sell the winners . A rational investor looks at his portfolio as a whole. He sells shares that will not make money in the future whether they are winners or not. After reading You will be able to understand the motives of people’s actions which is useful not only in personal affairs but also in marketing research. Learn to make the right decisions that are not base on impulsive here and now. Learn how the human brain works and what mistakes it makes. 7. Black Swan Nassim Nicholas Taleb Summary The Black Swan is an unexpecte event which is unrealistic to preict but at the same time it is easy to explain it after the fact.
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Former trader Nassim Taleb has describe how black swans are affecting the world and has argue why it is pointless to try to anticipate them. When a person finds a logical explanation for an event he clings to it. This approach is very narrow and can lead to Indonesia Email List surprises so you should not rely on planning and forecasting. Why do people often make mistakes Often people believe that the future is a reflection of the past and draw conclusions base on this. At the same time they do not take into account unknown factors that do not agree with the assumptions. And when a black swan happens cognitive biases come into play. In this case an attempt to explain everything and confirm their own point of view.
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If you are sure that climate change is a real scientific theory you will google climate change facts or climate change evidence . But if you believe USA Business that this is a conspiracy theory the search will look like this climate change is a hoax. After reading You will understand why it is important to think outside the box learn how to turn your knowlege into actions choose the criteria for success in your own life. What is the economy here This is the area that the black swans have the most impact on because it is directly relate to human lives.
