— David Brooks
People have a recency bias (that overweights fresh events), an anchoring bias (that overweights past events) and a loss aversion bias (that makes people fear loss more than they desire gain). These biases won’t go away. They’re the result of millions of years of evolution. But once you identify them, you can overcome them personally and factor them into forecasts of market behavior.
— Jim Rickards
We create entire worlds through the stories we tell. You could say humanity’s success is based on spinning useful fictions – telling stories about things that aren’t really there. In his hit book, Sapiens: A Brief History of Humankind, author Yuval Noah Harari shows that the success of human societies and other organizations is based …