The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: GraceZ who wrote (12935)	8/26/2003 2:18:08 PM
From: gpowell	Read Replies (1) of 306849

It might take another such revolution to get back to that frame of mind. I have my doubts considering I've had to explain the value of tax cuts to a zillion friends and family members. I can't figure out how they did it (repeat it frequently enough I guess) but somehow the Democratic party has convinced it's members that high taxes are better than low ones for the economy. People don’t think very much. Evidently it’s just not a productive use of most people’s time. It takes time to develop critical skills. It takes time to gather information about issues. It takes time to apply critical thought to relevant information. Consider: it seems most participants in this investment site don’t have the capacity or the time to investigate the investment potential of the companies they post about. Little of the bandwidth here is consumed on the exchange of company specific information. People seem to use price trends convoluted with their own psychological state to make investment decisions, or just rely on their resident thread guru. Whereas all available information is reflected in the price of stock, its price does not necessarily reflect relevant information or rational assessments, partly because novice, lazy, or incompetent investors use price as a proxy for information. In the same vein, people lack the time or the ability to think critically or rationally about most of the issues in their lives. Further, most seem incapable of making or assessing a sound argument. Thus people use rules of thumb, expert opinion, what other people think, and past trends as a proxy for critical thought. Mostly people display adaptive behavior rather than rational behavior.

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