Why Smart People Make Big Money Mistakes quotes
People overconfidently confuse familiarity with knowledge. For every example of a person who made money on an investment because she used a company’s product or understood its strategy, we can give you five instances where such knowledge was insufficient to justify the investment. A classic example is Apple.
Why Smart People Make Big Money Mistakes summaryIn their fascinating investigation of the ways we handle money, Gary Belsky and Thomas Gilovich reveal the psychological forces--the patterns of thinking and decision making--behind seemingly irrational behavior. They explain why so many otherwise savvy people make foolish financial choices: why investors are too quick to sell winning stocks and too slow to sell losing shares, why home sellers leave money on the table and home buyers don't get the biggest bang for their buck, why borrowers pay too much credit card interest and savers can't sock away as much as they'd like, and why so many of us can't control our spending.
Similar books to Why Smart People Make Big Money Mistakes- Tools of Titans
- Decisive: How to Make Better Choices in Life and Work
- Predictably Irrational