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Which is the strong emotion, gain or loss?
Let’s say next week you make a profit of $1,000 in the market. And the following week, you lose $1,000. Of course, making money was better than losing money. But was the joy of winning greater than the pain of losing? For most people, it isn’t – losing feels worse. The thrill of victory pales next to the agony of defeat. The fish that got away looms larger in the fisherman’s mind than the one that landed in the frying pan. But the human reaction for the pain of defeat to sting more than the delight of victory messes with our emotions. And that can lead to bad investment decisions. The way our brains perceive ... (full story)
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The elites think we are stupid. They are in the main quite correct.
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